There has been a difference of opinion between the government employees and the government regarding the old pension system (OPS). While many state governments including Jharkhand and Chhattisgarh have announced to restore the previous pension system. At the same time, thousands of government employees recently protested in Gujarat to restore the previous pension system.
Now the Aam Aadmi Party (AAP) government has announced that it is contemplating to restore OPS in Punjab. Punjab Chief Minister Bhagwant Mann said that the AAP government will conduct a feasibility study to go back to OPS.
The CM said, ‘My government is contemplating to bring back the old pension system (OPS). I have asked my Chief Secretary to study the feasibility and modalities of its implementation. We are committed to the welfare of our employees.
Chhattisgarh was the first state to announce the restoration of the old pension scheme and after that Jharkhand announced the roll back of the old pension system which would be applicable from October 1. On the other hand the Rajasthan government is also working to set up the OPS.
The old pension scheme was abolished on 1 April 2004. It was replaced by a market driven new pension scheme.
All new employees joining the Central Government service (except the armed forces) on 1 January 2004 are covered under the National Pension System (NPS). According to the Ministry of Personnel, Public Grievances and Pensions,
The Government of India had said in March this year that there is no proposal to revive the old pension scheme for central government civil servants hired on or after January 1, 2004.