Old Pension Scheme 2024: Let us tell you that in OPS, Dearness Allowance (DA) is implemented for the employees after 6 months. Retired employees also get the benefit of pension revision after the implementation of Pension Commission.
Old Pension Scheme 2024: There is a relief news for the government employees of Punjab. Punjab-Haryana High Court has given an important decision in the matter of old pension scheme for the employees, under this, now all the employees appointed before 2004 and regularized later will get the benefit of old pension. The High Court ordered the state government. It is said that OPS benefits should be given to the employees within 4 months.
This is the whole matter
In fact, several petitions regarding OPS were filed in the Punjab-Haryana High Court by the employees of various departments of Punjab. The Punjab government has been ordered to release the benefits of the old pension scheme to them within 4 months. In this, Surjit Singh and others told the High Court through Advocate Ranjeevan Singh that the state government has released raw employees in various departments, boards, corporations etc. of Punjab. He was appointed before 2004 but was made regular post 2004 but not given the benefit of OPS.
Government gave this answer
After being regularized, the petitioners had filed a petition in the High Court and appealed to give the benefits of the old pension scheme, on which the High Court, while hearing in January, had ordered the government to take a decision in this regard soon, but the Punjab Government It was argued on behalf of the petitioners that terms and conditions had been laid down while regularizing the petitioners, hence they cannot deny it.
HC orders government to give OPS benefits to employees in 4 months
After this, the High Court again accepted the petitions filed by the employees of various departments of Punjab and said that in the case of Harbans Lal and others, the High Court has clarified the situation regarding pension. In this case, the appeal of the Punjab Government in the Supreme Court has been rejected, in such a situation, when a decision has been accepted by the Punjab Government, then it should be followed in all the cases. The High Court has ordered the Punjab Government to release the benefits of the old pension scheme to all the petitioners within 4 months. If an employee has been appointed before 2004, even if he is regularized after this date, he is entitled to the old pension scheme.
Know what is the difference between OPS and NPS
- In OPS, after the retirement of a government employee, half of the last basic salary and dearness allowance is given as pension from the government treasury throughout his life.
- NPS is a contributory scheme, in which employees have to contribute ten percent of their salary. The government contributes 14% to the employee’s NPS account.
- In OPS, dearness allowance is also increased twice every year. On the death of a pensioner government employee, pension to his family is also included in OPS.
- In OPS, employees get gratuity up to Rs 20 lakh after retirement. In OPS, Dearness Allowance (DA) is implemented for the employees after 6 months. Retired employees also get the benefit of pension being revised after the implementation of Pension Commission.
- There is no permanent provision of gratuity at the time of retirement in NPS. Dearness Allowance (DA) given after 6 months is not applicable in the New Pension Scheme (NPS).
- Under the new pension scheme, to get pension on retirement, 40 percent of the NPS fund has to be invested. There is no guarantee of fixed pension after retirement. NPS is based on the stock market. This does not include the provision of dearness allowance.
- In NPS, there is a provision to give 50 percent of the total salary as pension to the family members of an employee in case he dies during service.
- Unlike OPS, in the new pension scheme, you have to pay tax on whatever money you get on retirement as per the stock market. In OPS, the employee does not have to pay any income tax on the interest on GPF on retirement.
