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Sachin=GOD

By Sachin=GOD
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Kalia_Test Newbie

Kalia_Test

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This is a tricky issue for sure but India needs to move away from defined benefit concept to defined contribution - already done for Civilian Govt employees from 2004 through NPS. This is the only sustainable way i.e you contribute to your pension yourself during working years and at retirement - get part lumpsum and part invested in an annuity with an insurer. As one of the article suggested, pay scale for Armed forces can be more and Govt can also contribute more towards their NPS ( after bringing them under NPS ) during their active service. This will not result in any huge outgo to ex-chequer. Other out-of-box things that I can think of ( in addition to a few mentioned in link like absorption into Police forces,etc ). - Additional tax concessions like higher tax-slabs for ex-servicemen ( we already have higher slabs for women and senior citizens ) - Additional percentage ( or whatever is feasible ) return on fixed deposits for ex-servicemen by Public Sector Banks ( already Senior citizens get the benefit ). This can be done during service too. - Lower housing interest rate for armed forces through PSBs/LIC HF,etc - Some direct subsidy mechanism ( for fuel,etc ) in addition to the subsidized grocery that they are anyway entitled to through Canteen Stores Department ( CSDs) - Some additional concession to current/ex-servicemen on Public Sector Company shares during divestment Also, quite a few things like railway concessions ( currently available only to vir chakras or disabled,etc can be extended ), medical ( currently only out-patient is available in military hospitals and in-patient for select cases - can be enhanced through comprehensive Health insurance coverage ), education ( more Army schools/colleges? ) can be relooked. Basically, spread the liability around ( with PSBs, LIC, Railways,etc each contributing a bit) and make it more focussed i.e reduce the expenses from pocket of ex-servicemen.

Clarke Mentor

Clarke

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It cannot be done for sarkari babus. The armed forces move heaven and earth for us and deserve exceptions, the less said about the babus the better.

Sachin=GOD Newbie

Sachin=GOD

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This is a tricky issue for sure but India needs to move away from defined benefit concept to defined contribution - already done for Civilian Govt employees from 2004 through NPS. This is the only sustainable way i.e you contribute to your pension yourself during working years and at retirement - get part lumpsum and part invested in an annuity with an insurer. As one of the article suggested, pay scale for Armed forces can be more and Govt can also contribute more towards their NPS ( after bringing them under NPS ) during their active service. This will not result in any huge outgo to ex-chequer.
Problem is that for a large number of soldiers the working years are very small as compared to other services so if they contribute to their own pension it won't amount to much.
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