September 1, 2010 5:00 PM

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Govt. plans new pension scheme for workers employed under MGNREGA

The government plans to extend coverage of new pension scheme to workers employed under Mahatma Gandhi National Rural Employment Guarantee Scheme. The executive director of Pension Fund Regulatory and Development Authority P K Tiwari told reporters in New Delhi that the proposed move will provide security to rural workers who have shorter work life span and no means to save for retirement. He elaborated that the talks involving officials of finance ministry and rural development ministry are still at an early stage. The Mahatma Gandhi National Rural Employment Guarantee Act, aimed at enhancing livelihood security of people in rural areas, guarantees 100 days of manual work every year to each rural household when demanded. So far, this Programme has provided employment to 50.6 million households and nearly half of the beneficiaries are women.The government has allocated 401 billion rupees for the scheme in the Union Budget 2010-11.

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