The Chhattisgarh Pension Fund Act, 2025
The Chhattisgarh Pension Fund Act, 2025
Finance202513 sections
The Chhattisgarh Pension Fund Act, 2025, establishes a dedicated financial reserve to secure future pension payments for retired state government employees. It mandates the creation of a Pension Fund, funded by an annual contribution of up to five percent of the previous year's pension expenditure. The Act regulates how this money is invested in government securities and specifies conditions for its withdrawal, particularly when pension costs rise sharply. By creating this buffer, the legislation ensures the state government maintains the ability to meet its retirement obligations, providing financial stability for pensioners and the state treasury.
- 1. Short title, extent, and commencement
- 2. Definitions
- 3. Constitution of the Fund
- 4. Objective of the Fund
- 5. Custody of the Fund
- 6. Contributions to the Fund
- 7. Management of the Fund
- 8. Utilization of the Fund
- 9. Investment of the Fund
- 10. Monitoring and Reporting
- 11. This report shall be submitted to the State Legislature and made publicly available.
- 12. The audit report shall be submitted to the State Legislature and made publicly available.
- 13. Savings
PDF: pending for this language.