New Pension Scheme draws flak

The new pension scheme has drawn flak on two counts - limiting investment in equity to 50 per cent of one's contribution and levying annual account management fee of Rs 350, irrespective of its size, thus clearly being pro-wealthy in its approach.

In addition, a fee is payable each time an amount is deposited. With there being a minimum four contributions a year, one has to pay this at least four times.

Text: Business Line

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