The central government has also included the tax exemptions and essential facilities given in the National Pension Scheme (NPS) in the newly launched Unified Pension Scheme (UPS). For this, necessary amendments have been included in the new Income Tax Bill-2025 (No. 2). Under this, now 60% of the lump sum amount received at the time of retirement in UPS will also be tax free.

These amendments will come into effect from the financial year 2025-26. This change will specifically apply to those central government employees who opt to shift from NPS to UPS before 30 September 2025. The new provisions have been incorporated in Section-10 (Subsections 12A, 12B and 12AB) of the Income Tax Act.

Apart from this, a new subsection (6) has also been added to section 80CCD of the Income Tax Act. It is worth noting that UPS was implemented from 1 April 2025. This step was taken after the demand of employee unions across the country, in which it was said to restore the system of giving fixed pension like the Old Pension Scheme (OPS).

Tax experts say that this move will provide the same tax benefits to employees opting for UPS as are already available in NPS. This will give them more financial benefits at the time of retirement.

No restoration of OPS

With this, the government has again clarified that there is no proposal under consideration to restore the Old Pension Scheme (OPS) for central employees. Finance Minister Nirmala Sitharaman gave this information in response to a question in the Lok Sabha.

Along with this, while explaining the reason behind closing OPS, he said that the old pension scheme had an unbearable fiscal liability on the government treasury, due to which the government distanced itself from OPS and implemented NPS.

These changes were incorporated in UPS

1. Tax-free withdrawals on retirement

Employees covered under UPS can withdraw up to 60% of their pension corpus in lump sum at the time of retirement, voluntary retirement or superannuation (retirement at a specified age). No income tax will be payable on this. This system is also applicable in NPS.

2. Lump sum on superannuation

At the time of superannuation, the member will receive 10% of his monthly salary (basic pay + dearness allowance) for every six months of eligible service as a lump sum. This too will be tax free. This payment will not reduce his assured monthly pension.

3. Tax on early withdrawal

If an employee or his nominee withdraws money from the UPS account before retirement or superannuation, the entire amount withdrawn will be treated as income and taxable in the same financial year.

4. Exit the plan or close the account

If a member closes the UPS account or exits the scheme before retirement, the entire amount withdrawn (including interest and investment earnings) will be taxable in full that year.

5. Transferring funds to purchase pension

At the time of retirement, if the balance amount is invested in a ‘pooled corpus’ to purchase a pension plan (annuity), it will not be taxable.

6. Rules at the age of 60

When the member turns 60 years old, he can withdraw 60% of the pension fund tax free. The remaining 40% will have to be used to buy a pension plan (annuity).

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In an office memorandum issued on March 12, 2025, the CPAO has reminded the concerned officials that NPS pension cases should be processed in the same manner as OPS (Old Pension Scheme), as was earlier directed on December 18, 2023.

Although clear instructions were given earlier, the CPAO found that some Pay and Accounts Offices are still not following the guidelines for pension cases. In particular, where only two PPO booklets should be submitted, some offices are still submitting provisional PPOs with three copies under the old procedure. Due to which there is unnecessary delay in processing the pension.

To streamline pension disbursement, the CPAO has appealed to all concerned officials, Principal CCA, CCA, AG and Authorized Bank CPPC to strictly follow the guidelines. This is aimed at ensuring that retired people continue to receive their pension on time and without any interruption.

The difference between OPS and NPS for government employees has always been a matter of discussion. Let us tell you that in January 2004, the central government discontinued OPS and implemented the National Pension System in its place. However, many states restarted it after trade unions and employee representative bodies started agitations and protests against the New Pension Scheme.

Employee unions are demanding restoration of OPS

Now that the Unified Pension Scheme has been announced and is to be implemented from April 1 this year, many employee unions are demanding the Centre to restore OPS.

Difference between OPS and NPS

• Under OPS, employees used to get a fixed monthly pension after retirement, which was a fixed part of their last salary. In this, the government used to give full guarantee of pension, which provided financial security to people after retirement.
• On the other hand, NPS is a contribution based scheme in which both the employee and the company invest a fixed amount. The pension amount depends entirely on the performance of the market, i.e. the amount received after retirement is not fixed. Because of this, many retired employees are confused about it.

Now CPAO has taken the initiative to simplify NPS pension processing by issuing new guidelines. For a long time, delay in pension approval was causing trouble for retired employees. According to the new rules of CPAO, pension processing of employees retiring under NPS will be made similar to the process of OPS. This will not only make pension disbursement fast and transparent, but will also ensure that NPS beneficiaries continue to receive their pension on time and without any hassle.

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New Delhi. The government is going to give a big gift to the lakhs of employees of the country who are demanding the old pension scheme (OPS). Amidst the protest going on for 2 decades regarding NPS and the demand for restoration of old pension, the government has ordered to provide facilities in the new pension scheme like the old one. The Central Pension Accounting Office (CPAO) has issued instructions to all the concerned officials to operate the NPS pension cases in the same manner as the old pension scheme (OPS).

Earlier, on December 18, 2023, the CPAO had issued guidelines to ensure that retired employees under the National Pension System (NPS) get their pension on time. The Office Memorandum (OM) dated March 12 urged the Pay and Accounts Offices (PAOs) to comply with the order. The CPAO noted that in some cases PAOs are submitting three copies while submitting NPS cases. As per the new instructions, they should submit only two copies. One of the pensioner and the other of the distributor. This is causing unnecessary delay in the disbursement of pension amount.

What were the deficiencies found?

According to the CPAO, it has been observed that some PAOs have not followed the guidelines while submitting NPS cases as OPS cases. Specifically, it has been observed that the PAOs have submitted three (03) copies of Provisional PPO (which was earlier used for submitting NPS cases to the CPAO) while submitting NPS cases as OPS cases, whereas only two (02) copies of PPO booklets (Pensioner Portion and Disburser Portion) should be submitted to the CPAO along with the cases. The Authority has urged the CCAs and CAs to strictly follow the updated guidelines.

Instructions issued to banks also

In view of its orders, the Authority has requested all the Chief CCAs/CCAs/CAs (with independent charge)/AGs to instruct the PAOs under their control to strictly follow the guidelines given in the previous OM issued by the CPAO on 18.12.2023. Similarly, all CPPCs of authorized banks are also requested to carefully read the OM issued by this office and subsequent orders in this regard and act accordingly.

What is the new rule of NPS?

Under the new rules of CPAO, the pension process of employees retiring under NPS will be made similar to the process of OPS. Its purpose is to make pension distribution fast and transparent. This will help NPS beneficiaries to get pension on time and without any hassle. Currently, employees have to wait a long time to get NPS money, because its maintenance work remains with PFRDA and Fund House, which is linked to the market. This is the reason why emphasis is being laid on providing facility like OPS by simplifying the rules of withdrawal from NPS.

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There is good news for the employees who retired under the old pension scheme. The Pension and Pensioners Welfare Department of the Government of India has prepared a plan to increase the pension of retired employees by 20 to 100 percent. To get additional pension or additional compassionate allowance, retired employees will have to fulfill the age condition.

If they are between 80 years to 85 years of age, then their basic pension will be increased by 20 percent. That means they will get 20 percent additional pension or additional compassionate allowance. After crossing a certain age, the pension of retired employees can increase by 100 percent as additional pension or additional compassionate allowance.

An office memorandum in this regard has been issued by the Department of Pension and Pensioners’ Welfare on October 18. The Department of Pension and Pensioners’ Welfare is the nodal department for formulation of policies relating to pension and other retirement benefits of Central Government employees covered under the Central Civil Services (Pension) Rules, 1972. Conditions have been laid down for grant of additional pension to retired civil servants of the Central Government covered under the Central Civil Services (Pension) Rules, 2021.

As per the provisions of sub-rule 6 of rule 44 of the CCS (Pension) Rules, 2021 read with erstwhile rule 49(2-A) of the CCS (Pension) Rules, 1972, retired Government servants after attaining the age of eighty years or above shall be granted additional pension or additional compassionate allowance in addition to the pension or compassionate allowance admissible under the rules.

Additional pension or additional compassionate allowance will be paid from the first day of the calendar month in which it becomes payable. For example, a pensioner born on August 20, 1942 will be eligible for additional pension at the rate of twenty per cent of the basic pension from August 1, 2022. A pensioner born on August 1, 1942 will also be eligible for additional pension at the rate of twenty per cent of the basic pension from August 1, 2022.

The Central Government has requested all Ministries/Departments and Pension Disbursing Authorities/Banks to inform all concerned parties for compliance with the above provisions of the Central Civil Services (Pension) Rules, 2021.

If the age of the retiring employee is between 80 to 85, he will get 20 percent additional pension. If the age of the employee is between 85 to 90 years, then he will be entitled to 30 percent additional pension. If the age of the employee is between 90 to 95 years, then the basic pension will increase by 40 percent. Similarly, if the age of the employee is between 95 to 100 years, then his basic pension will increase by an additional 50 percent. If a retiring employee has crossed 100 years, then his basic pension will increase by an additional 100 percent.

Dr. Manjit Singh Patel, National President of ‘National Mission for Old Pension Scheme India’ says, this formula has been decided by the Government of India on the basis of Central Civil Services Rules 2021. He has urged the Government of India to also give the benefit of this rule to those who choose option 1 in the case of death and disability covered under the National Pension System Amendment Act 2021 (CCS Rules 1972) of the Government of India.

The reason is, in case of death and disability, the Government of India has given freedom to the employees to choose any one option between NPS Exit Rules 2015 and CCS Rules 1972. In such a situation, this rule should also apply to those who have opted for the option of CCS Rules 1972.

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This facility is being given to those policemen who were selected for service before 28 March 2005. The government has taken this decision keeping in mind the demand of the policemen for the old pension scheme, so that they can get more options in terms of pension.

To avail the benefits of this scheme, the policemen will have to submit their information in the prescribed format issued by the DGP headquarters by 31 October 2024. Once the old pension scheme is chosen, this option will be final, which cannot be changed again.

The National Pension Scheme (NPS) account of those policemen who have opted for the old pension scheme will be closed from June 30, 2025. After this, the amount deposited in the NPS account will be transferred to the employee’s General Provident Fund (GPF) account. The government contribution under NPS will be deposited in the state treasury.

If retired policemen also want to avail the benefits of the old pension scheme, then they will have to return the contribution given by the government under NPS along with interest. This step will ensure that only willing retired policemen take advantage of this option.

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The DGP headquarters has issued a format for policemen to opt for the old pension scheme. It is mandatory for all eligible policemen to fill and submit this format by October 31.

This decision is being considered an important step towards securing the future of policemen. Under this, policemen who opt for the old pension scheme will be able to receive pension under the old process after retirement. This will increase security in their post-retirement plans.

What is Old Pension Scheme (OPS)?

Under the Old Pension Scheme, the retired employee gets the right to compulsory pension. This is 50 percent of the basic salary received at the time of retirement. That is, half of the basic pay on which the employee retires after completing his job is given to him as pension. After retirement in the Old Pension Scheme, the employee continues to get the benefit of other allowances including dearness allowance like a working employee, meaning if the government increases any allowance, then the pension will increase accordingly.

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Now a new update has come from the central government regarding the Old Pension Scheme (OPS). It was claimed in many media reports that the time limit for switching from New Pension Scheme to Old Pension would be extended.

The central government clarified that there is no proposal to extend the time limit for employees to switch to the Old Pension Scheme (OPS). The central government started NPS for employees in 2003. Union Minister of State Jitendra Singh had said in response to a written answer in the Lok Sabha a few days ago that NPS is mandatory for all new recruitments in central government jobs (except armed forces) from January 1, 2004.

The option to switch to the old pension scheme was given.

He said that after the court order, the Department of Pension and Pensioners Welfare issued an order on March 3, 2023. In this order, the civil employees of the Central Government were given a one-time opportunity to join under the Central Civil Services (Pension) Rules, 1972 (now 2021). In this, the option to switch to the old pension scheme was given to such employees who were recruited before the notification of NPS was issued on December 22, 2003.

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No proposal to issue any kind of instruction

Singh said that according to the existing process, the appointing authority of the post in the ministry for which such an option has been chosen has to examine the applicability of these instructions and take a decision. He said, ‘A fixed time limit has been fixed for every activity to examine and decide on the option chosen by the employee.’ The employees had time till August 31, 2023 to select their option. After this, the last date for examining the option and deciding on it by the concerned appointing authority was November 30, 2023. The minister said that there is no proposal to issue any kind of instruction regarding the order issued on March 3, 2023.

Manjit Singh Patel, national president of All India NPS Employees Federation, requested the government to extend the date to benefit eligible employees. Patel said, ‘Many NPS employees are still deprived of this benefit and are demanding an extension of the deadline. We are requesting the Government of India to extend the date to benefit the rest of the eligible employees.’

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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 Indian Public Service Employees Federation (IPSEF) held a meeting in the capital Delhi to consider making a new strategy on the old pension. Its next big meeting will be held in November in which a detailed strategy will be considered regarding OPS.

The meeting of the National Executive of IPSEF was held today under the chairmanship of VP Mishra at the Delhi University and College Employees Union office, in which officials from 20 states participated. A resolution was passed in the meeting that the government should implement the old pension scheme instead of the new pension system.

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Along with this, demands were also made to constitute a permanent National Pay Commission, include 50 percent of dearness allowance in basic salary/pension, regularize all types of contract employees working in the government sector and autonomous bodies, end all types of contracting practices, pay the employees of all central autonomous bodies the bonus due from 2014-15 along with the outstanding amount.

Along with this, demands were also made to provide unconditional appointment on compassionate grounds apart from the limit of 5 percent to one dependent of the employees who died during the Corona period and to make immediate payment of dearness allowance illegally withheld during the Corona period.

Officials of 20 states of IPSEF also met Defence Minister Rajnath Singh at his residence and demanded that a meaningful decision be taken on the demands of employees across the country. According to the organization, the Defence Minister has promised to strongly advocate these demands in the cabinet meeting. He said that throughout his political life, he has helped the employees by adopting a family-like attitude towards them and will continue to do so.

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In the meeting with Finance Minister Nirmala Sitharaman, labor organizations have demanded the formation of Old Pension Scheme (OPS), 8th Pay Commission and increase in tax exemption in the full budget. Apart from this, labor organizations have also demanded to stop the privatization of government companies and stop the New Pension Scheme (NPS).

In the memorandum given by the labour organisations in the meeting held with Finance Minister Nirmala Sitharaman on Monday, it has been said that a social security fund should be set up by the government for the workers of the unorganised and agricultural sector, so that they can get a minimum pension of Rs 9,000 per month and other medical, educational benefits etc.

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They have demanded that all the existing vacancies in the central government departments and government companies should be filled. Apart from this, the practice of contract and outsourcing should be stopped.

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The workers’ organizations further said that instead of burdening the general public through GST on essential food items and medicines, corporate tax, increase in property tax and inheritance tax should be implemented. Representatives of 12 workers’ organizations including INTUC, AITUC, CITU, AIUTUC, TUCC and UTUC participated in the meeting. The Bharatiya Mazdoor Sangh (BMS) separately submitted a memorandum with its demand.

They demanded to increase the scope of MNREGA and guarantee 200 days of work to every family. It has also been said to link the work of agriculture and allied sectors with MNREGA (Mahatma Gandhi National Rural Employment Guarantee Act). The workers’ organization has also demanded to increase the criteria of Ayushman Bharat Yojana from Rs 1.20 lakh to Rs three lakh.

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According to the Government Proposal (GR), those employees for the posts for which advertisements were issued before November 1, 2005, but the selection took place later, will be able to apply for OPS.

The plan was approved last month

Last month, the state cabinet had approved the proposal to give such employees the option to choose the Old Pension Scheme (OPS) instead of the National Pension Scheme. In the GR issued by the government, it has been said that the employees who do not apply within six months from today will get benefits under the National Pension Scheme (NPS).

Currently 9.50 lakh employees are getting benefits

In fact, government employees had gone on strike demanding restoration of OPS in the state. After this the state government approved the plan. According to media reports, about 9 lakh 50 thousand government employees in Maharashtra had joined the service before November 2005 and they are already taking advantage of it.

Know the difference between OPS and NPS

Actually, the old pension system was abolished in the year 2004. In its place a new pension system was introduced. Those who got government jobs on or after January 1, 2004, are included in the new pension system. Under this, these employees contribute 10 percent of their salary to the new pension scheme. Whereas in the old pension system, the employee used to get 50 percent of the salary after retirement for life.

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Whenever the election season comes closer, its demand becomes more intense. In such a situation, in view of the upcoming Lok Sabha Elections (2024), a debate has started regarding the demand for implementing the old pension scheme afresh.

On one hand, the government does not seem to be in favor of implementing the old pension, while on the other hand, in the election environment, the opposition parties have been continuously doing politics on the restoration of the old pension system. In the upcoming elections too, some party may try to woo voters by raising the issue of its restoration.

In such a situation, in view of the Lok Sabha elections, can the Modi government at the Center once again bring back the old pension keeping in mind the demands of the employees? This question is arising because salaried and pensioners are a big voter category.

In view of the elections, the government keeps trying to woo them. In many states, employees are demanding restoration of the old pension scheme. After all, why are the employees leaving the New Pension Scheme and demanding the old pension again? Will the government try to find a solution to their demand?

If the old pension scheme is implemented once again across the country, what benefits will the government employees get? We are going to give you answers to all these questions.

What is Old Pension Scheme (OPS)?

Under the old pension scheme i.e. Old Pension Scheme (OPS), before the year 2004, the government used to give a fixed pension to the employees after retirement. This pension was based on the employee’s salary at the time of retirement. Under this scheme, after the death of a retired employee, his family members were also given pension.

However, the Old Pension Scheme was discontinued on 1 April 2004. It has been replaced by National Pension Scheme. After which the demand for its withdrawal is becoming very strong. At the same time, there is a continuous demand to implement the old pension scheme.

Benefits of Old Pension Scheme

• Under this scheme, half the amount of their salary is given to the employees as pension at the time of retirement.
• In the old pension scheme, if an employee dies after retirement, the pension amount is given to his family.
• In this scheme, there is no deduction of any kind from the salary of the employees for giving pension.
• In OPS, at the time of retirement, 50 percent or half of the last basic salary of the employees is given as pension.
• Through this scheme, the facility of medical allowance and reimbursement of medical bills after retirement is also provided.
• Under this scheme, a retired employee is given a gratuity amount of up to Rs 20 lakh.

Government again clarified its stand on OPS restoration

However, the government has once again made its stand clear regarding the re-implementation of this scheme. In response to a question raised in the Lok Sabha on the issue of restoration of the Old Pension Scheme, Minister of State for Finance Pankaj Chaudhary said that the government does not have any such proposal.

RBI also warned about OPS

At the same time, the Reserve Bank of India (RBI) has also warned about the Old Pension Scheme (OPS). RBI has said that implementing this will put a lot of pressure on the finances of the states and their capacity for development related expenses will be limited. The RBI report said that thus returning to the old pension of the states would be a big step backwards.

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It is reported that before the Lok Sabha elections, the Modi government at the Center is preparing to amend the National Pension Scheme, for this the pension model of Andhra Pradesh is being considered. Under this, employees can be given benefits like the old scheme. There is a possibility that Modi government may announce a new scheme before 2024. Let us tell you that NPS is applicable across the country for all government employees except the armed forces employees who joined the Central Government after January 2004.

Andhra Pradesh model is being considered

In fact, after the restoration of OPS in Punjab, Chhattisgarh, Rajasthan, Jharkhand and Himachal Pradesh, the demand for the old pension scheme has gained momentum across the country. Employees’ organizations have opened a front against the Central and State Governments for implementing OPS, in such a situation, discussions have started to change the National Pension Scheme by not implementing OPS before the Lok Sabha elections.

According to media reports, Modi government is preparing to make changes in NPS, for this the Finance Ministry is considering adopting Andhra Pradesh model. For this, the government is currently preparing to make changes on the recommendations of a high level committee investigating the matter.

What benefit will you get?

According to media reports, the Central Committee is working on the modalities of the pension scheme, every aspect of which is being closely considered, which is mainly based on the Andhra Pradesh model. The Andhra model guarantees pension based on 40-50% of the employee’s last basic pay. The proposed scheme would be market-linked, with the government meeting any shortfall in the pension fund. Employees will continue to contribute as before, while the government’s contribution will increase. Currently, employees contribute 10% of their basic salary to the NPS, while the government contributes 14% to the NPS account. However, it is not clear whether the new scheme will be linked to DA like the Andhra scheme or not.

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. In OPS, DA is also increased twice every year. On the death of a pensioner government employee, the pension given to his family is also included in OPS.
• Unlike OPS, in the new pension scheme, whatever money you get on retirement as per the stock market, you have to pay tax on it. In OPS, Dearness Allowance (DA) is applied to the employees after 6 months. In OPS, employees get a gratuity of up to Rs 20 lakh after retirement. In OPS, an employee does not have to pay any income tax on the interest on GPF on retirement.
• Under the NPS new pension scheme, a government employee has to pay 10 percent of his basic salary in his pension and the state government contributes only 14 percent. Under the new pension scheme, 40 percent of the NPS fund is invested to get pension on retirement. Has to be done. 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 in case of death of an employee during service. There is no permanent provision of gratuity at the time of retirement in NPS. Pension Retired employees also get the benefit of getting their pension revised once the commission is implemented. In the New Pension Scheme (NPS), the Dearness Allowance (DA) given after 6 months is not applicable.

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Taking a very important step, the Center has directed all the State Governments to convert all those All India Service (AIS) employees from the National Pension Scheme (NPS) to the Old Pension Scheme (OPS). Those who are recruited through notification vacancies issued after December 22, 2003 and those who are covered under NPS when they join government service on or after January 1, 2004, are covered under the provisions of the old pension scheme. Will go It states that interested employees can avail this one-time option till November 30.

Orders will be issued to eligible employees to avail the old pension scheme by January 31, 2024 and thereafter their NPS accounts will be closed by March 31, 2024. Orders will be issued to eligible employees to avail the old pension scheme by January 31, 2024 and thereafter their NPS accounts will be closed by March 31, 2024. You will get this chance only once.

In a letter dated July 13 to the chief secretaries of all states and union territories, the Department of Personnel and Training said, “All India officers who are covered under NPS on joining service on or after January 1, 2004, they An option to come under the Old Pension Scheme (OPS) under 1958 may be given.”

It has also been said in this letter that IAS officers selected through Civil Services Examination 2003, Civil Services Examination 2004 and Indian Forest Service (IFS) Examination 2003 will come under this provision.

According to a letter, this step has been taken in response to the decisions of different courts and CAT benches. It said that it allowed government employees appointed on or after January 1, 2004, to extend the benefits of the old pension scheme. Employees will get a chance to join the old pension scheme only once. Till November 30, 2023, the officers who will not be able to apply for the benefit of old pension will continue to get the benefit of NPS as before.

The letter states that it is clarified that transfer from one service to another is subject to continuous service and technical resignation.

It also states that in accordance with these instructions, the option exercised by the members of the service shall be placed before the Government of the State to whose cadre the member of the service belongs.

It said, “If any clarification is required, a reference may be made to the Department of Personnel and Training in the case of members of the Indian Administrative Service, to the Ministry of Home Affairs in the case of members of the Indian Police Service and to the Ministry of Home Affairs in the case of members of the Indian Forest Service.” may be referred to the Ministry of Environment, Forest and Climate Change.”

It also states that if the member of service fulfills the conditions of coverage under AIS (DCRB) Rules, 1958 as per these directions, necessary orders in this regard will be issued by January 31, 2024.

Due to this, the NPS account of such member of service will be closed with effect from March 31, 2024. Members of the service who opt for the Old Pension Scheme under the AIS (DCRB) Rules, 1958 will be required to take membership of the General Provident Fund (GPF).

The Congress governments of Rajasthan, Chhattisgarh and Himachal Pradesh have already announced to implement the old pension scheme in the state. The Congress has also made OPS an important issue for the Karnataka assembly elections and has announced to implement it in Madhya Pradesh as well, if voted to power.

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At this time, the Old Pension Scheme (OPS) has been implemented in many states of the country. At the same time, there is a debate on its implementation in many states. Let us tell you that in all the states where the New Pension Scheme is applicable, there is a demand to cancel it and implement OPS.

Time till 31st August

Let us tell you that at this time the Central Government has given the employees an opportunity to choose the old pension scheme. You have time till 31 August. You can choose the Old Pension Scheme till 31 August 2023. The government has told that the eligible employees who do not select the option of Old Pension Scheme (OPS) till August 31, will be put in the New Pension Yojana.

OPS has been implemented in many states, tell that in Chhattisgarh also the state government has implemented it. Apart from this, it has been implemented in many states including Rajasthan, Punjab. In the year 2004, the Central Government abolished the old pension scheme and started the National Pension System instead.

What are the advantages of old pension scheme?

Talking about the benefits of the old pension scheme, its biggest advantage is that it is made on the basis of the last drawn salary. Apart from this, as the inflation rate increases, DA also increases. Even when the government implements the new pay commission, it increases the pension.

What is the problem with the new pension scheme?
Officials believe that the government should make changes in NPS in such a way that at the time of retirement, the employees will get back the big money i.e. about 41.7 per cent contribution as a lump sum. The official said that this model is just the opposite of OPS and that is its only problem.

More pension is available 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.

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Now if you also want to take advantage of old pension, then you have a good chance. You will have to decide in the coming 60 days whether you want to be in New Pension Scheme or want to select OPS. Regarding this, SOP has also been issued by the government.

Option to be chosen in 60 days

The government has asked the employees to opt for pension within 60 days. Tell that the beneficiaries of the state government, Himachal Pradesh are getting this facility. State employees are getting the benefit of the old pension scheme from 1 April 2023. Along with this, if anyone has retired earlier, then he will not get the old money in the form of arrears.
Government issued order

After a long wait, the Finance Department of Himachal Government has issued Standard Operating Procedure (SOP) to implement OPS. The Chief Secretary of the state has issued an order in this regard.

Will get the benefit of NPS if not selected

If any employee does not choose his pension option by the prescribed time limit, then those people will be kept in NPS only. Along with this, all the employees who will be covered in OPS will also be covered under General Provident Fund Central Service Rules 1960. On the other hand, if any employee selects NPS, then he will also have to deposit the share of NPS on April 1.

What are the advantages of old pension scheme?

Talking about the benefits of the old pension scheme, its biggest advantage is that it is made on the basis of the last drawn salary. Apart from this, as the inflation rate increases, DA also increases. Even when the government implements the new pay commission, it increases the pension.

OPS has already been implemented in many states, Rajasthan ranks first among the states to implement old pension scheme. After this, the governments of Rajasthan, Punjab, Chhattisgarh, Jharkhand and Himachal Pradesh have also restored the old pension scheme.

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There is good news for the government employees and pensioners of Himachal Pradesh. The old pension scheme has come into force in the state from April 1, 2023, and a final decision can be taken on the issue of SOP on Wednesday. Its benefit will be given to 1.36 lakh employees-pensioners of the state. It is believed that after the municipal elections, the final notification regarding the restoration of old pension will be issued.

Actually, today on Wednesday, a cabinet meeting has been called under the chairmanship of CM Sukhwinder Singh Sukhu. It is expected that in this meeting, the SOP to be issued regarding the restoration of the Old Pension Scheme (OPS) may be approved.

There can also be a discussion on making a policy to fill the posts of teachers. Apart from this, many other agendas including filling of vacancies in various departments, water cess can also be approved in the meeting. Many budget announcements can also be approved in the cabinet meeting.

NPS deduction stopped, increased salary reached in the accounts of employees

After the implementation of OPS in the state from April, the deduction on the share of NPS has also been stopped. This time, the share of NPS has not been deducted from the salary of any government employee for the month of April, but the employees have started getting increased salary, that is, the share of NPS of any employee is deposited in PFRDA, an agency of the Government of India. Not sent to.

Since till now the NPS share was being deducted from the salary of the employees after the year 2003 in the state, 10% salary was being deducted from their salary every month and the state government was also contributing 14% of its share. In this way, 24 percent of the total contribution was being deposited with the PFRDA of the Central Government.

GPF account opening process will start soon

After the closure of NPS share deduction, now the process of opening GPF accounts of the employees is likely to start soon. The notification of SOP is also likely to be issued after the cabinet meeting to be held today.

It is estimated that the SOP for restoration of old pension will be issued in May and options will be asked from the employees to choose one of the two pensions. The decision will benefit both serving and retired employees and employees with 20 years or more service will get 50 per cent of basic pay plus DA as pension.

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This will benefit 1.36 lakh state government employees, who will not face cuts under the National Pension Scheme (NPS). The Chief Secretary of the state issued a notification to implement the OPS on Monday.

Old Pension Scheme Latest News The notification states that as per the decision of the cabinet to implement the old pension scheme, the contribution (employer’s and employee’s share) of the state government employees covered under the National Pension System will be stopped from April 1, 2023. will be given.

The restoration of OPS was one of the key promises of the Congress in the 2022 assembly elections and a decision in this regard was taken in the first cabinet meeting on January 13, 2023.

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Many state governments have implemented the Old Pension Scheme (OPS) in their state. Now good news is coming out regarding old pension. The Himachal government has also decided to restore the old pension scheme across the country from April 1, 2023, that is, from now on all the people of the state will get the benefit of the old pension scheme.

1.36 lakh employees will get benefit

Giving information, the Himachal Pradesh government has said that the old pension scheme is being restored from April 1, 2023. This will benefit 1.36 lakh employees of the state government, who will not face cuts under the National Pension Scheme (NPS).

The Chief Secretary of the State has given the information.

The Chief Secretary of the State has issued a notification for the implementation of OPS (old pension system). The notification states that as per the decision of the cabinet to implement the old pension scheme, the contribution (employer’s and employee’s share) of state government employees covered under the National Pension System will be stopped from April, 2023.

The issue of OPS was included in the promises of the assembly elections

Restoration of old pension was included in the major promises of the Congress in the 2022 assembly elections and a decision in this regard was taken in the first cabinet meeting on January 13, 2023.

What are the advantages of old pension scheme?

Talking about the benefits of the old pension scheme, its biggest advantage is that it is made on the basis of the last drawn salary. Apart from this, as the inflation rate increases, DA also increases. Even when the government implements the new pay commission, it increases the pension.

OPS has already been implemented in many states, Rajasthan ranks first among the states to implement old pension scheme. After this, the governments of Rajasthan, Punjab, Chhattisgarh, Jharkhand and Himachal Pradesh have also restored the old pension scheme.

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At the same time, there is a war in many states regarding its implementation. At present, the government has now looked at the option of Old Pension Scheme, which is going to benefit lakhs of people of the country. Now the central government employees will not have to worry about pension at all and you will get more benefits.

There will be a change in the pension scheme

On behalf of the central government, there is talk of giving benefits equal to the old pension scheme to the employees. Planning has been done by the government regarding this. The government is now considering bringing many provisions in the New Pension Scheme, which will give huge benefits to the employees.

Government considering minimum guaranteed plan

In the midst of all this, many states have refused to implement the new pension scheme. According to media reports, now the central government is planning a minimum guaranteed plan in the new pension scheme. Pensioners will get additional benefit from this. Along with this, it is considering giving more than 14 percent to the contribution, which will affect the government exchequer.

Annuity option can also be available

To increase the pension, it may be possible to invest more in Annuity. At present, 40% of the total fund is invested in annuity, which gives pension of about 35% of the last salary. However, being linked to the market does not guarantee it.

What are the advantages of old pension scheme?

Talking about the benefits of the old pension scheme, its biggest advantage is that it is made on the basis of the last drawn salary. Apart from this, as the inflation rate increases, DA also increases. Even when the government implements the new pay commission, it increases the pension.

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The old pension system is being implemented in many states of the country. At the same time, in many states even today there is a demand for the restoration of the old pension system by canceling the New Pension Scheme.

Choose the old pension scheme by August

Let us tell you that all the government employees can choose the old pension scheme. He has the option to choose this pension till 31 August 2023. Along with this, the government has told that the eligible employees who do not select the option of Old Pension Scheme (OPS) till August 31, will be put in the New Pension Yojana.

It will be implemented in many other states as well.

In Chhattisgarh also the state government has implemented it. Apart from this, it has been implemented in many states including Rajasthan, Punjab. In the year 2004, the Central Government abolished the old pension scheme and started the National Pension System instead.

What are the advantages of old pension scheme?

Talking about the benefits of the old pension scheme, its biggest advantage is that it is made on the basis of the last drawn salary. Apart from this, with the increase in the inflation rate, DA also increases. Even when the government implements the new pay commission, it increases the pension.

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However, this demand has been happening for a long time. A few days ago, the Modi government at the Center decided to give the benefit of Old Pension Scheme (OPS) to some selected central employees. Under this, all central employees (Government Employees) will not be able to get the benefit of the old pension scheme. According to the new update given by the government, the employee who has joined the government job through recruitment released before December 22, 2003, only he will get the benefit of Old Pension Implemented.

Apart from this, the employees who have got jobs through recruitment released after December 22, 2003 will not get the benefit of old pension. They will be given pension cover under the National Pension Scheme. Along with this, the government has also made it clear that if an employee opts to go from New Pension Scheme to Old Pension Scheme (NPS To OPS), then it will be considered as his last option. This means that he will not be able to switch to the new pension scheme again.

At the same time, amidst the continuous demand from the central employees, the old pension scheme has been implemented once again in 5 states of the country. These states include Rajasthan, Chhattisgarh, Jharkhand, Punjab and Himachal Pradesh. Rajasthan is at number one among the states implementing the old pension scheme. At the same time, recently the Himachal Pradesh government has decided to implement the old pension scheme from April 1. Here we are going to tell you about all the states where the Old Pension Scheme in States has been implemented. So let’s know…

Rajasthan: In Rajasthan, the Congress government led by Ashok Gehlot has successfully implemented the old pension system (Rajasthan Implemented Old Pension Scheme (OPS)). It became the first state to restore OPS. During the presentation of the state budget 2023-24, CM Gehlot announced the benefit of the old pension scheme (OPS) to all serving and retired employees instead of the new pension scheme.

Chhattisgarh: The state cabinet led by Chief Minister Bhupesh Baghel (Bhupesh Baghel) after the announcement of the budget gave the employees the option to choose the new and old pension scheme (OPS). The cabinet decided that the employees can go back to OPS after depositing the contribution made by the state towards the National Pension System (NPS) and the dividend earned thereon.

Jharkhand: On 1 September 2022, the Jharkhand cabinet approved the restoration of the Old Pension Scheme (Old Pension Implemented in Jharkhand). Implementing OPS in the state was one of the election promises of the Hemant Soren government.

Punjab: The Chief Minister of Punjab (Bhagwant Mann) talked about implementing the old pension scheme in the state in November 2022. After this decision of the state government, now more than 1.75 lakh government employees are going to get the benefit of the old pension scheme.

Himachal Pradesh: It is the latest state to implement the old pension scheme. In the Himachal Pradesh cabinet meeting, Chief Minister Sukhwinder Singh Sukhu approved the implementation of OPS (OPS restored in Himachal) as promised in his election manifesto.

Let us tell you that under the old pension scheme i.e. Old Pension Scheme (OPS), before the year 2004, the government used to give a fixed pension to the employees after retirement. This pension was based on the salary of the employee at the time of retirement.

In this scheme, after the death of the retired employee, his family members were also given the benefit of pension. However, on April 1, 2004, the government of Alt Bihari Vajpayee decided to discontinue the Old Pension Scheme. After which, in the year 2004, the National Pension System was started in place of the old pension scheme.

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The Ministry of Personnel has issued an order in this regard. In an order issued on Friday, the government told that after all, which selected employees are being given the opportunity to opt for the Old Pension Scheme (OPS). Let us know in detail that which employees will get the benefit of this decision of the government?

According to the order issued on Friday by the government, according to the order issued on Friday, the date of notification of the National Pension System (NPS), the employees joining the services of the Central Government under the posts advertised or notified before December 22, 2003, the Central Civil Services ( Pension) Rules, 1972 (now 2021) are eligible to join the old pension scheme. The concerned government employees can exercise this option till August 31, 2023.

The National Movement for Old Pension Scheme (NMOPS), an organization of more than 14 lakh central and state government employees, has welcomed the government’s decision. Manjit Singh Patel, head of the Delhi unit of NMOPS, said, “This is good news for the eligible central government employees. We once again request the Central Government to amend the existing New Pension Scheme so that all Central Government employees can get the benefits of the old pension scheme.

Let us tell you that in 2004, the then Central Government had abolished the Old Pension Scheme and in its place the system of New Pension Scheme was implemented, but the employees’ organizations have been continuously opposing it. Because they believe that there are some anomalies in NPS. Now the government has given a big relief to a section of employees by giving them the option to choose OPS again.

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At the same time, the demand for its implementation is going on in full swing in many states. A big statement has been issued by Haryana Chief Minister Manohar Lal Khattar on the old pension scheme. Let us tell you when the central government can restore the old pension scheme?

India will be bankrupt by 2030

Haryana Chief Minister Manohar Lal Khattar has said that India will be bankrupt by 2030 if the Old Pension Scheme (OPS) is implemented. The Chief Minister has said that yesterday I received a message on WhatsApp in which a Central Government official said that if the Old Pension Scheme (OPS) is implemented, the country will be bankrupt by 2030.

There was protest in 2006 as well.

Further, the CM of Haryana told that in the year 2006 also there was protest regarding the old pension scheme. The country’s great economist Manmohan Singh and he told in the year 2006 that the old pension scheme can make India backward.

These 4 states have implemented

Let us tell you that earlier Chhattisgarh Government, Rajasthan Government, Punjab Government have implemented the old pension system. Along with this, Himachal government has also implemented this system.

What are the advantages of old pension scheme?

Talking about the benefits of the old pension scheme, its biggest advantage is that it is made on the basis of the last drawn salary. Apart from this, as the inflation rate increases, DA also increases. Even when the government implements the new pay commission, it increases the pension.

Only these people will get the benefit of OPS, recently the Delhi High Court has decided that the Central Paramilitary Forces (CAPF) will get the benefit of the old pension scheme. The court has told that it is an armed force, due to which these people will get the benefit of OPS. They are eligible for this scheme. Thousands of ex-servicemen are expected to get great relief from this decision of the court.

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Some states with Congress government have announced to restore the old pension scheme. The old pension scheme has been implemented in Chhattisgarh, Rajasthan, Himachal Pradesh and Punjab.

If voted to power, OPS will be restored

In Madhya Pradesh too, opposition Congress leader Kamal Nath has announced to implement old pension on coming to power. However, the Central Government has not given any clear answer regarding its implementation. Minister of State for Finance Bhagwat Karad had also given a statement in Parliament last days regarding the restoration of old pension. Meanwhile, all the personnel of the Central Armed Police Forces (CAPF) will get the benefit of the old pension scheme.

Order to issue guidelines in eight weeks

Let us tell you that in a decision by the Delhi High Court, an order has been given to restore the old pension for all the employees of the Central Armed Police Forces. The court has asked the Center to issue necessary guidelines on this within eight weeks.

Office memorandum rejected

The 2003 notification of the Ministry of Finance and an Office Memorandum (OM) of 2020 of the Department of Pension and Pensioners Welfare have been rejected by the High Court. According to the advertisement dated January 1, 2004, the personnel appointed in the Central Paramilitary Forces have been deprived of the benefits of the old pension scheme.

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For some special people doing government jobs, the government has decided to restore the old pension system (OPS). Delhi High Court has given a big decision regarding this. The High Court has told that all the people across the country want to take advantage of the Old Pension Scheme, but at this time it is being restored for some special people.

Delhi High Court has issued the order giving information that the Central Paramilitary Forces (CAPF) will get the benefit of the old pension scheme. The court has told that it is an armed force, due to which these people will get the benefit of OPS. They are eligible for this scheme. Thousands of ex-servicemen are expected to get great relief from this decision of the court.

Will always get the benefit of old pension

Justice Suresh Kait and Nina Bansal’s bench has ruled on 82 petitions and has said in its decision that whether someone is recruited in these armed forces today or whether someone has been recruited before or will come If there is any recruitment in time, then all those people will come under the ambit of old pension only.

Central forces got a lot of relief

Let us tell you that the detailed copy of this decision has not been uploaded on the website yet, but this decision of the government and the court has given a lot of relief to the central forces.

What are the advantages of old pension scheme?

Talking about the benefits of the old pension scheme, its biggest advantage is that it is made on the basis of the last drawn salary. Apart from this, as the inflation rate increases, DA also increases. Even when the government implements the new pay commission, it increases the pension.

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Old Pension Scheme (c big news is coming out. Please tell that now 1.36 lakh employees will also get the benefit of the old pension scheme. Along with the central government, the state government is implementing pension schemes at its level.

The old pension scheme has come into force Tell that after the implementation of the old pension scheme in many states, the government employees living in Himachal Pradesh will now get the benefit of the old pension scheme. After hearing this news, a wave of happiness has run among the employees. Giving information, the Chief Secretary of the state has told that instructions have been given to implement the decision of the Finance Department.

Restored old pension scheme

According to the information received from the state government, about 1.36 lakh employees will be benefited by this decision. Terms, conditions and SOP have been issued by the Finance Department. The Congress government has approved the restoration of the old pension scheme as per the election promise.

The government is making this plan for women, along with this, a plan is being made to give Rs 1500 per month to women from 18 years to 60 years. Along with this, one lakh jobs will be created in a month to increase employment. Along with this, the employees coming in government service from January 1, 2004 come under the New Pension Scheme.

These 4 states have implemented Let us tell you that earlier Chhattisgarh Government, Rajasthan Government, Punjab Government have implemented the old pension system. Along with this, Himachal government has also implemented this system.

What are the advantages of old pension scheme?

Talking about the benefits of the old pension scheme, its biggest advantage is that it is made on the basis of the last drawn salary. Apart from this, as the inflation rate increases, DA also increases. Even when the government implements the new pay commission, it increases the pension.

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But in Himachal, the Congress has snatched away the key to power from the BJP. The Congress holds 40 of the 68 assembly seats in Himachal. The party got 43.90 percent votes this time. The names of Sukhwinder Singh Sukhu, Mukesh Agnihotri and Pratibha Singh are doing the rounds for the next Chief Minister of the state.

The biggest challenge in implementing the old pension

will be to implement the old pension scheme in front of the new Chief Minister who will take over the chair of the state. It is believed that after the formation of the Congress government, the government employees of the state will be given the gift of Old Pension Scheme (OPS). In fact, the Congress had promised to implement the ‘Old Pension Scheme’ during the assembly elections in Gujarat and Himachal Pradesh.

It will be difficult to manage the finances of the state.

This possibility increases because the old pension scheme (OPS) has already been implemented in Congress-ruled Rajasthan and Chhattisgarh. On coming to power, the party had promised to implement it in Gujarat and Himachal as well. If the election promises are fulfilled by the newly formed Himachal government, then financial management will be a big challenge for the government. The state government already has a debt of about 70 thousand crores.

Loan of more than 5000 crores in the financial year

In September 2022 itself, the Himachal government had taken a loan of Rs 2500 crores from the Reserve Bank of India (RBI). Earlier, the state government had taken a loan of Rs 1000 crore in July and Rs 1500 crore in August. In this way, the Himachal government had taken a loan of 5000 crores in the current financial year. The government already had a debt of Rs 62,200 crore. Based on the latest figures, the state government has a debt of about 70,000 crores. In such a situation, implementing the old pension scheme will be no less than a challenge.

It has already been said by the NITI Aayog that the decision to implement the old pension scheme by debt-ridden states can be dangerous for the economy. Let us tell you that the Himachal government had last announced the increase in dearness allowance in January 2022. At that time, the then Chief Minister Jairam Thakur had increased the dearness allowance for July 2021 by 3 percent from 28 to 31 percent.

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Organizations not involved in the online meeting

The joint platform of ten labor organizations in an e-mail sent to the Finance Ministry on Monday put forward their demands regarding the next budget. However, these organizations did not attend the online meeting called for pre-budget discussions.

Pension scheme is based on contribution

National Pension System (NPS) was implemented from January 2004 by abolishing OPS during the tenure of Atal Bihari Vajpayee government. NPS is a contribution based pension scheme and there is no provision for dearness allowance. After increasing complaints of employees getting less amount of pension under NPS, labor organizations have intensified their demands for re-implementation of OPS itself.

Meanwhile, some states like Rajasthan, Chhattisgarh and Punjab have announced re-implementation of OPS for their government employees.

Organizations want to have face-to-face meeting

Forum of labor organizations said, ‘Government should re-implement the old pension system instead of NPS by giving contribution on its behalf.’ These organizations did not participate in the online meeting, demanding a face-to-face meeting with the Finance Minister. Each organization was given three minutes to present their demands related to their area.

Demand to increase the minimum pension amount , however, SP Tiwari, general secretary of the Trade Union Coordination Center (TUCC), who attended the pre-budget consultation meeting, also said that in the meeting there was a demand for restoration of OPS instead of NPS. Along with this, a demand was also made to increase the amount of minimum pension from Rs 1,000 to Rs 5,000.

Demand for increase in mental honorarium

Bhartiya Mazdoor Sangh (BMS) said that apart from increasing the amount of minimum pension, it should also be linked with dearness allowance, so that the needs of the pensioners can be met. BMS also demanded the government to allocate more funds to the unorganized sectors. Apart from this, there has also been a demand to increase the monthly honorarium to the workers associated with Anganwadi, Asha and mid-day meal schemes.

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Niti Aayog gave a big statement 

Berry spoke to PTI on the need to increase capital expenditure and create scope for the private sector through fiscal consolidation. He said, ‘I am a little worried about the resumption of the old pension scheme. I think this is a matter of concern because its burden will not be on the existing taxpayers but on future taxpayers and citizens.

It is worth mentioning that earlier the government used to give the entire amount of pension under OPS, but this scheme was stopped by the NDA government from April 1, 2004. After this, under the New Pension Scheme, employees pay 10 percent of their basic salary for pension, while the state government contributes 14 percent to it. That is, there is a loss to the employees, that is why the employees are continuously demanding to restore the old pension scheme.

Developed economy necessary: ​​Berry

NITI Aayog Vice Chairman Suman Berry said, “Political parties should exercise discipline as we all are working for the common goal of growth of the Indian economy so that India becomes a developed economy.” It is necessary to balance short term goals with long term goals. The debt of the states has been effectively capped by the RBI, so there is no threat to the economic stability of the states. In the next 2 years, through financial strength, we will have to start making space for the private sector.

Many states have started OPS

Let us tell you that many states have started OPS. In fact, the Congress-ruled states of Rajasthan and Chhattisgarh have already decided to implement OPS, while the BJP-ruled Himachal Pradesh has promised before the elections that it will restore the scheme if voted to power. Apart from this, Jharkhand announced to start OPS. Here, the Aam Aadmi Party has also recently approved the re-implementation of this scheme in Punjab.

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