Old Pension Scheme Latest Update: A big update has come out on the old pension scheme. Government’s think tank i.e. Niti Aayog has said a big thing about the old pension scheme. Niti Ayog Vice-Chairman Suman Berry has expressed concern over the re-introduction of the Old Pension Scheme (OPS) by some states. Berry says that this move by state governments will put a burden on future taxpayers at a time when India needs to focus on improving its fiscal position and promoting sustainable development.
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.
