Old Pension Scheme Update: A good news is coming out regarding the old pension. If you are also a government employee and want to take advantage of the old pension scheme, then good news has come for you.
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.
