Pension Scheme Update: The organization of government employees has demanded that the ‘NPS’ scheme without guarantee should be abolished. Also, the guaranteed ‘old pension scheme’ should be re-implemented. At the same time, the chairman of the committee says that all issues will be taken care of.
Pension Scheme: There is a lot of uproar regarding the old pension scheme. Government employees are demanding to restore the old pension scheme. In fact, recently a committee was constituted by the government, for changes in the National Pension Scheme (NPS), a four-member committee was formed under the chairmanship of the Finance Secretary, which on June 9 called the National Council of the Staff Side ‘JCM’. Have a meeting with the office bearers of However, in this meeting, the representatives of the big central government employees’ organizations made it clear that they want the old pension scheme only.
Old Pension Scheme
The organization of government employees has demanded that the ‘NPS’ scheme without guarantee should be abolished. Also, the guaranteed ‘old pension scheme’ should be re-implemented. At the same time, the chairman of the committee says that all issues will be taken care of. Along with this, efforts will be made to remove all the concerns. The representatives of the employees’ union have submitted a memorandum to the committee. In this memorandum, there has been a demand to abolish NPS. Along with this, it has been asked to restore the old pension scheme. The committee said that work will be done on the points given in the memorandum.
OPS
Explain that the Old Pension Scheme (OPS) is a retirement scheme approved by the government. Government employees get monthly pension under OPS. It provides a guaranteed pension to government employees who have completed at least ten years of service on the basis of their last drawn basic pay and years of service.
Retirement
Under OPS, the government pays the full pension amount to the government employees after retirement. Thus, when the employees are in service, no amount is deducted from their salary. After retirement, government employees get the benefit of revision of pension amount and dearness allowance (DA) twice a year. Since they get pension on the basis of their last drawn pay and DA, their pension gets increased when DA is increased twice in a year. However, OPS is applicable only to government employees.
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