Accepting the demands of government employees, OPS was also restored in Himachal Pradesh, Chhattisgarh, Punjab, Rajasthan and Jharkhand. But the central government refused to restore it. Despite this, lakhs of employees are adamant on their demand.

The government will assure 50% pension to the employees!

Employee unions say that after retirement, there is no fixed benefit under NPS, whereas in OPS the employee gets a fixed pension. In such a situation, the government is trying to assure the central employees coming under NPS that they will get the same benefits as OPS after retirement. The government is trying to give 50% of the monthly salary to the employees coming under the National Pension Scheme (NPS) as pension after retirement.

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Employees are getting good returns in the current scheme.

This step is being taken by the government because employees are worried whether they will get adequate pension after retirement or not. However, employees recruited after 2004 are getting good returns in the current scheme. But for that it is necessary that the employee has maintained the deposit of money without any withdrawal for 25-30 years. After the announcement by Finance Minister Nirmala Sitharaman in this matter, a committee has been formed under the chairmanship of Finance Secretary TV Somanathan (TV Somanathan committee).

Decision not to return to OPS:

According to a news published in the Times of India (TOI), the central government has decided not to return to the Old Pension Scheme (OPS). But the government kept the window open for a certain level of help at a time when the Congress was announcing to reverse the decision of the Manmohan Singh government. Under the Old Pension Scheme (OPS), half of the last salary received every month after retirement is given as pension. This pension also increases from time to time based on the recommendation of the Pay Commission. But in the New Pension Scheme (NPS), government employees deposit 10% of the basic salary and the government contributes 14% to it.

The government is now considering giving 50% guarantee.

Employees get pension based on the amount deposited after retirement. The Somanathan Committee has studied the pension schemes of countries around the world and the changes made by the Andhra Pradesh government. Also, this committee is also studying what will be the effect if the government guarantees a certain amount on pension. The study made it clear that it is possible for the central government to guarantee 40-45% pension. But this will not alleviate the worries of employees working for 25-30 years. That is why the government is now considering giving 50% guarantee.

In the new system the government will create a fund!

This simply means that if there is a shortage of money for pension, the government will make up for it, and it will also be necessary to make an estimate every year. Some committee members say that the central government does not have a retirement fund in the government pension scheme. In the new system, the government will probably create a fund. Money will be deposited in this fund every year, just like companies create a fund for retirement benefits for their employees.

Employees are getting benefits like OPS

According to TOI, officials say that those who work in government jobs for 25-30 years are getting good returns equal to the pension received under the Old Pension Scheme (OPS). In fact, till now complaints of getting less pension are coming only from those people who have left this scheme after working for 20 years or less.

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The officers and employees who got the job from the recruitment advertisement issued by the Union Ministry of Personnel till December 22, 2003, are considered entitled to old pension. In this, both IAS officers and employees are entitled to pension. The option of 31 August 2023 has been given for its application. According to the letter sent by Sanjeev Narayan, Additional Secretary, Union Ministry of Personnel, the Personnel Department of UP has started the work.

10 percent deduction from employee’s salary

Let us tell you that from January 2004, the New Pension Scheme (NPS) system was started for government employees in the country by abolishing the old pension. Under NPS, 10 percent is deducted from the salary of the employee. The old pension has the facility of GPF, but it is not there in the new pension.

For some time, the demand to implement the old pension in the states and the center is gaining momentum. It has been restored by some state governments. In such a situation, the letter from the Union Ministry of Personnel is going to give relief to the employees.

The Personnel Department of UP is sending a letter to the concerned departments,
according to the letter of the Ministry of Personnel, employees of the Central Armed Forces will not come under its ambit. The Personnel Department of UP is sending a copy of this letter to the concerned departments of the government.

Those who come under its purview have been given the option to select the option till 31 August 2023. In a letter issued by the Ministry of Personnel, it was told that under the advertisement issued for government recruitment till December 22, 2003, continuous applications are being received for giving old pension to those recruited after January 2004.

That’s why it has been considered to give the benefit of old pension to the officers and employees who got jobs on the basis of advertisement till 2003. For this the option has been given by the government. If someone wants to enroll himself under old pension, then he has to select its option. If an employee does not select this option till the due date, then he will get the benefit of NPS only. If someone opts for old pension, then by 31 October 2023, their NPS account will be closed by issuing an order.

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Accepting the demands of the employees, old pension (OPS) has been restored in many non-BJP ruled states. The governments of Rajasthan, Chhattisgarh, Himachal Pradesh, Punjab and Jharkhand have started giving the benefit of Old Pension Scheme to the employees. But the Reserve Bank of India (RBI) has warned against this decision of the state governments.

Restoring OPS will increase financial burden

RBI said that restoring the OPS will increase the financial burden of the states. Through ‘State Finances: Study of Budget of 2022-23’ (State Finances: A Study of Budgets of 2022-23), the central bank said in its report that this step is a big risk for the future. This decision can create a problem of unfunded pension liabilities in the coming years. RBI said, there is a possibility of change in the old pension scheme from some states.

The Central Government has been informed

The Central Government has been informed about the decision of the Government of Chhattisgarh, Rajasthan, Himachal Pradesh, Punjab and Jharkhand to restore the Old Pension Scheme (OPS). These governments had promised to restore the old pension in their election manifestos. After this, political tussle is going on between non-BJP and BJP ruled states. RBI said that the annual saving in fiscal resources due to the move to restore the old pension is short-term.

This is how funding is done in OPS.

Let us tell you that in 2004, the BJP-led NDA government had abolished the Old Pension Scheme (OPS) with effect from April 1, 2004. Instead, the National Pension Scheme (NPS) was introduced. Under this, government employees give 10 percent of their basic salary in pension. In this, 14 percent is contributed by the government. Private sector employees are also included in NPS.

Experts say that the old pension is not fiscally sustainable. This is a responsibility that continuously increases the burden on the exchequer. Earlier, former RBI governor D Subbarao also spoke a lot about the negative effect of OPS.

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At present, the old pension system (OPS news) has been implemented in many states of the country. At the same time, now big news is coming from the Central Government on Old Pension that in all the states where the old pension system has been implemented, the State Governments are asking for the NPS money back, but the Modi government has Has flatly refused to give the money.

The central government flatly denied

Let us tell you that at this time the Ashok Gehlot government of Rajasthan is engaged in making the old pension scheme a big issue. It has become a main election issue this time. The Rajasthan government has restored the old pension in April 2023. At the same time, the central government has flatly refused to consider NPS.

10% is deposited by the state government

Explain that under the National Pension Scheme, 10 percent of the salary and dearness allowance given to the employees is deposited by the state government. OPS has 5,24,72 OPS accounts in Rajasthan. In this, Rs 14,171 crore was deposited by the government and Rs 14,167 crore was deposited by the employees. If the amount of interest is added to it, then this money is Rs 40,157 crore. In the notification issued by the state government on May 19, 2022, it was said that the employees will have to return the NPS contribution along with interest to the state government.

Preparation for change in new pension scheme

Let us tell you that the central government has clearly refused to give money to the state government, then the state government is planning to change the notification. At the same time, the central government is planning to make changes in NPS itself to give benefits to the government employees.

Get more profit in OPS

Let us tell you that there is a huge difference between the new and old pension scheme, due to which the employees and pensioners are demanding to restore the old pension scheme. At the time of retirement in OPS, employees get half the amount of salary as pension.

At the same time, in the new pension scheme, 10 percent of the employee’s basic salary + DA is deducted. The special thing about the old pension scheme is that no money is deducted from the salary of the employees. Apart from this, there is no provision for DA to be received after 6 months in the new pension.

Apart from this, payment in old pension is made through the treasury of the government. At the same time, there is no guarantee of fixed pension in the new pension.

Many employees have already retired

While giving information, the Central Government has told that out of 5.24 lakh employees appointed after January 2004, 3554 have retired a year ago. Such employees have not been able to get the benefit of pension.

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