Finance Minister rose twice to move the Pension Fund Regulatory and Development Authority Bill but on both occasions he could not complete reading out the Statement of Objects and Reasons of the bill.
An attempt to move for consideration the Pension Bill in the Lok Sabha was scuttled on Tuesday as BJP and Left created uproar, expressing dissatisfaction over Prime Minister’s statement on the missing files related to coal block allocations.
Finance Minister P. Chidambaram rose twice to move the Pension Fund Regulatory and Development Authority Bill, 2011, which provides for establishment of an authority to promote old age income security by developing pension funds, among others.
However, on both occasions, he could not complete reading out the Statement of Objects and Reasons of the bill because the House was adjourned amid din.
Leader of the Opposition Sushma Swaraj wanted to speak on the missing files related to coal block allocations issue but since she was disallowed, there was major uproar forcing the Chair to adjourn the House at 2 p.m till 3 p.m and then for the day.
Mr. Chidambaram, who was in the midst of reading out the Statement when the House was adjourned at 2 p.m, apparently was unhappy that he was not allowed to complete it.
The bill has been pending ever since it was introduced in 2011.
Besides promoting old age income security by establishing, developing and regulating pension funds, the bill seeks to “protect the interest of subscribers to schemes of pension funds” and related matters.