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Old Pension Scheme: Good news, now old pension scheme will be implemented in these states too!

Old Pension Scheme: The demand for implementing the old pension scheme (OPS) once again in the country is continuously increasing. After the implementation of OPS in Rajasthan, Chhattisgarh, Jharkhand, Punjab and Himachal Pradesh, the pressure on the government of other states to implement it again is increasing continuously.

Meanwhile, in Maharashtra, more than 17 lakh government employees have gone on an indefinite strike from today demanding the old pension scheme. Employees organizations from all over the state are participating in this strike. Due to this, government work is likely to be badly affected. Meanwhile, Maharashtra Chief Minister Eknath Shinde has announced a committee of senior officers to look into the demand of restoring the old pension scheme (OPS) of the state employees, but the employees’ union is not happy with it.

Assembly elections may be held in Karnataka in May-June, while assembly elections are to be held in Madhya Pradesh later this year. In such a situation, the government of these states also does not want to take any risk. The Bommai government announced a 17 per cent increase in the basic pay of the employees amid increasing pressure for old pension demands in Karnataka. Along with this, he has constituted a committee to implement the old pension.

Whereas in Madhya Pradesh, Congress has already said that if their government is formed in the state, it will implement OPS. While the Shivraj government has made it clear in the budget session of the assembly that at present they have no idea of ​​implementing OPS.

Let us tell you that out of the five states where the Old Pension Scheme has been implemented, four have Congress or Congress coalition government, while Punjab has Aam Aadmi Party government. In the states where assembly elections are to be held before the Lok Sabha elections, many parties have made it an election issue.

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In fact, on April 1, 2004, the government of the then Alt Bihari Vajpayee had decided to discontinue the Old Pension Scheme. After this, the National Pension System was started in 2004 in place of the old pension scheme. Under the old pension system, the government used to give a fixed pension to the employees after retirement. It was based on the pay scale of the said employee at the time of his retirement. In this, after the death of the retired employee, his family members were also given the benefit of pension. But under the new pension scheme, 10 per cent is deducted from the salary of the employees.

Along with this, the employees also got the facility of General Provident Fund (GPF) under the Old Pension Scheme. At the same time, this arrangement is not there in the new pension scheme. There is no guarantee of the amount that will be received as pension. The new pension scheme is based on the stock market, whereas there was nothing like this in the old pension scheme.

Read more – Old Pension Scheme: Good news, old pension scheme restored in five states, now it is the turn of these states

What is the difference between OPS and NPS

In fact, on April 1, 2004, the government of the then Alt Bihari Vajpayee had decided to discontinue the Old Pension Scheme. After this, the National Pension System was started in 2004 in place of the old pension scheme.

  • Under the Old Pension System (OPS), the Center used to give a fixed pension to its government employees after retirement. It was based on the pay scale of the said employee at the time of his retirement. In this, after the death of the retired employee, his family members were also given the benefit of pension. But under the new pension scheme, 10 per cent is deducted from the salary of the employees.
  • Whereas this arrangement is not there in the New Pension Scheme (NPS). There is no guarantee of the amount that will be received as pension. The new pension scheme is based on the stock market, whereas there was nothing like this in the old pension scheme.
  • The New Pension Scheme is a contributory scheme. In this, the employees have to pay 10 per cent of their salary. The government contributes 14 per cent to the NPS account of the employee. Under the new pension scheme, the government employee has to contribute 10 per cent of the basic salary in his pension and the state government contributes only 14 per cent.

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