Old Pension scheme: The demand for old pension scheme has increased across the country. The employees are constantly demanding the government to close the NPS by implementing the old pension scheme.
Meanwhile, once again a positive aspect has emerged from the government on the demand of the old pension scheme. In such a situation, it is believed that the process for the old pension scheme can be started soon in the state.
Discussion on restoration of old pension scheme
In fact, since the change of power in Bangalore, Karnataka, the Congress has been busy in fulfilling all the promises made by it. Meanwhile, Chief Minister Siddaramaiah was met by the employees’ union. Meanwhile, Chief Minister Siddaramaiah has assured that the Congress government will discuss the restoration of the old pension scheme in the next cabinet meeting.
The Chief Minister was holding a meeting with the State Government Employees Union. Speaking in the meeting with whose delegation, he said that the announcement of the scheme can be considered in the meeting of the government on 7th July.
Labor union demands
In fact, under the new pension scheme in Karnataka, the employees are being given the benefit of the pension scheme. The same employee union president Shantaram Teja says that by canceling the new pension scheme, Rs 19,000 crore available under the scheme can be used for government development programmes. He said that out of this the government share of 10000 crores can be used for development work and that the grant of 9000 crores should be converted into GPF. Let us tell you that this scheme was closed on 31 March 2004 in the state.
OPS-NPS Advantages
Under the old pension scheme, half of the last drawn pay and dearness allowance are provided to government employees twice a year after their retirement. At the same time, under the new pension scheme, employees contribute 10% of their salary. After which, after investing in various funds, the employees get returns on investment after retirement.
Earlier in the assembly elections, the Congress had said in its announcement that the old pension scheme would be extended to the employees who joined after 2006. After its inclusion in the manifesto of the Congress for the assembly elections, the preparations for the implementation of the old pension scheme in the state can now be started by the state government after the cabinet meeting. Earlier, states like Rajasthan, Himachal, Chhattisgarh, Jharkhand have abolished NPS and implemented OPS.
