State Minister Anupa Pasqual said that the government has decided to introduce a new pension scheme based on the payment of taxes.

He said that steps will be taken to introduce the new pension scheme for entrepreneurs, businessmen and manufacturers through the Social Security Board.

The State Minister said that it was proposed to introduce a pension scheme based on the contribution of the government for the people who pay taxes, and added that there should be a social security system as the businesses can collapse at any time.

He further said that steps will be taken to introduce the new system if tax payments are made properly based on the risk of the profession.