Old Pension vs. New Pension: 'My Family, My Pension', Maharashtra government workers will demonstrate against NPS on THIS day

 Old Pension vs. New Pension: 'My Family, My Pension', Maharashtra government workers will demonstrate against NPS on THIS day

Around 17 lakh government and semi-government workers in Maharashtra have made the decision to stage a "Family March" on November 8 in each district and tehsil of the state to seek the reinstatement of the Old Pension Scheme (OPS). 

The marchers will shout "My Family, My Pension" as they make their way to the district collectors' offices to urge their case. In the state, the OPS was stopped in 2005.

"We have decided to take out a 'Family March' in every district and tehsil on November 8 as well as submit our demand for restoration of the OPS," claimed Vishwas Katkar, convenor of a coordination committee of several groups of state workers.

According to Katkar, who was reported by PTI, "If there is no proper response, then we are returning on an indefinite strike beginning December 14 for the demand of OPS." 

The Maharashtra government has disappointed the workers by refusing to grant their request for the OPS, which offers a secure and consistent source of income after retirement. 

They have pushed for the filling of all open positions as well as the cancellation of indirect privatization of the education sector.

The Old stipend Scheme (OPS), a retirement program authorized by the federal government, pays recipients a monthly stipend till the end of their lives of service. According to this, a person's monthly pension will be equivalent to half of their most recent wage.

But the most recent retirement program, the New Pension Scheme (NPS), allows recipients to take 60% of their investment after retirement.

In order to provide old age income security in a financially sustainable manner and to direct small savings into productive portions of the economy through prudential savings, the central government introduced the defined involvement pension scheme in December 2003.

The state's Maratha minority has previously staged demonstrations to advocate for their demand for reservations. On Sunday, Chief Minister Eknath Shinde said his administration was dedicated to give the Maratha community preference in employment and education. He also advised youngsters to avoid extreme measures like suicide.