Old Pension scheme govt employees are demanding restoration of Old Pension Scheme – Business News India

Old pension scheme: With each passing day the demand to restore the old pension scheme i.e. Old Pension Scheme (OPS) is getting louder. Many employees in Maharashtra and Haryana

have gone on strike for this demand. At the same time, some non-BJP ruled states including Rajasthan, Chhattisgarh, Jharkhand, Punjab and Himachal Pradesh have already announced to

restore OPS. However, the central government is in no mood to revive the old pension scheme. Along with this, the government has also rejected the demand to return the New Pension

Scheme i.e. NPS funds. Actually, the states which have restored the old pension scheme, are demanding the money deposited till now under the new pension scheme from the government.

However, the central government has said that there is no provision in the Act of PFRDA (Pension Fund Regulatory and Development Authority) for refund. Minister of State for

Finance Bhagwat Karad also said that the Center is not considering any proposal to restore the old pension scheme in respect of central government employees recruited after January

1, 2004. What is Old Pension Scheme?Purani Pension Yojana is a retirement scheme of the Central Government, under which monthly pension is provided to the beneficiaries till the

end of their life. Under this, the monthly pension amount is equal to half of the last pay drawn by an individual. This share fell from ₹ 457 to ₹ 9, this company is going to

be auctioned on March 20 Whereas, New Pension Scheme (NPS) is the new retirement scheme of the Central Government in which the beneficiaries can withdraw 60% of the

invested amount after retirement. The central government started this scheme from January 1, 2004. It was made mandatory for all new recruits to government service (except the

armed forces). At the same time, from May 1, 2009, it has also been implemented for all citizens on a voluntary basis. Why protest?Actually, under the old pension scheme, the

pension amount is given by the government. At the same time, along with the employee, the government also contributes to NPS. Silver became expensive by ₹ 2150 in a jiffy, gold

prices also increased, check the latest price of 10 grams of gold Government has given optionEarlier this month, the central government allowed select employees to opt

for the old pension scheme. The employees who joined the Central Government Services before 22nd December, 2003 are eligible to join the old pension scheme. Let us inform that on

this day the National Pension System (NPS) was notified. A select group of government employees can opt for this option till August 31, 2023.