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Beware! Govts do default on pension liabilities

The faith displayed by employees in a future government's ability to pay pension is perplexing when stories abound of state governments having difficulty in paying salaries

Topics
Government | Pensions | NPS

Harsh Roongta 



Harsh Roongta

Let us begin with the story of an emperor who ruled over a prosperous kingdom. His employees demanded a pay hike for which the royal treasury didn’t have the resources. The emperor instead promised them a gold coin every month after retirement for as long as they lived. The employees agreed.

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First Published: Sun, January 29 2023. 20:57 IST

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