OPS is the subject of a debate war that is currently raging throughout the nation. The implementation of the outdated pension plan is consistently demanded by state government employees. Many states in the nation currently use outdated pension systems (OPS news). The Modi administration has categorically refused to return the NPS funds. Despite the fact that state governments in every state that has implemented the old pension system have asked for them. This is huge news regarding old pensions coming from the central government at the same time.
The national government categorically refuted
Let us inform you that the Rajasthani government of Ashok Gehlot is currently working to make a big deal out of the outdated pension plan. This time, it has emerged as a key election issue. In April 2023, the Rajasthani government will reinstate the previous pension. Meanwhile, the national government has categorically refused to take NPS into account.
A 10 percent deposit is done by the state government
Tell people that the state government deposits 10% of the employees’ salaries and severance pay into the National Pension Scheme. In Rajasthan, OPS has 5,24,72 OPS accounts. In this, the government contributed Rs 14,171 crore while the employees contributed Rs 14,167 crore. If interest is included, the total amount becomes Rs 40,157 crore. The employees would be required to repay the NPS contribution to the state government together with interest, according to the notification sent by the state government on May 19, 2022.
Let us tell you about the adjustments being made to the
new pension plan since the state government intends to amend the notification after the federal government has clearly refused to provide funding to it. In order to provide benefits to government employees, the national government is simultaneously contemplating adjustments to NPS.
There are numerous benefits offered by OPS.
Nonetheless, there are significant differences between the old and new pension plans, which is why both employees and retirees are calling for the reinstatement of the former. Employees in the OPS receive a pension equal to half of their salaries when they retire. In addition, 10 percent of the employee’s basic pay plus DA is withheld under the new pension plan. The unique feature of the previous pension plan is that employees’ salaries are not withheld in any way. Aside from this, the new pension does not include an option for receiving DA after six months.
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