Big news on the Old Pension Scheme! The government made a major announcement in Parliament about the revival of the former central staff pension program

 Big news on the Old Pension Scheme! The government made a major announcement in Parliament about the revival of the former central staff pension program

Old Pension Plan for Central administration Employees: The administration has expressed its position on the Old Pension Plan in the Lok Sabha unequivocally.

Old Pension Plan for Central administration Workers: Is the administration considering bringing back the Old Pension Plan for Central workers? In the Lok Sabha on Monday, the administration reiterated its position on this. Regarding the revival of the Old Pension Scheme, State Minister of Finance Pankaj Chaudhary said that the government has no such proposal.

Pankaj Chaudhary, Minister of State in the Finance Ministry, testified in the Lok Sabha on behalf of the government that there is no plan in place for central government workers to leave the OPS. Under the direction of the Finance Secretary, a committee has been established to investigate the problems with the National Pension System (NPS) for Central Government workers and to make any required adjustments.

There are 11,41,985 civil pensioners in the nation, along with 33,87,173 defense pensioners (which includes civil pensioners), 4,38,758 telecom pensioners, 15,25,768 railway pensioners, and 3,01,765 postal pensioners, Chaudhary informed the Lok Sabha. With this included, the nation's total number of pensioners is 67,95,449. According to Chaudhary, there is no database kept by the state government on pensioners.

In these states, OPS is in place.

The Old Pension Scheme (OPS) has been implemented by the state governments of Rajasthan, Chhattisgarh, Jharkhand, Punjab, and Himachal Pradesh, the government informed the Lok Sabha. These state governments have notified the Pension Fund Regulatory and Development Authority (PFRDA), a branch of the Central Government, of their decision in this regard.

The removal of payments and perks has been sought by these state governments. Nonetheless, the Punjabi government has also notified the Indian government that it would keep funding the NPS via payments from the government and employees.