Patna: The state government on Wednesday launched a pension scheme for over 2.5 lakh contractual teachers in Bihar with prospective effect from January, 2013.
Under the pension scheme to be managed by the asset management company - Unit Trust of India (UTI), the contractual teachers will have to contribute Rs 200 per month with the state government chipping in with equal contribution in pension account of the beneficiary.
An agreement was signed in this regard between the UTI Chief Executive Officer (CEO) Imtiyazul Rahman and the Director (Primary Education) Ashutosh in the Chief Minister Nitish Kumar`s presence at a function on the Teachers` Day.
The contractual teachers will be eligible to receive pension only upon superannuation from service.
PTI
