Old Pension Plan: These workers will get benefits under an old pension plan that was adopted in a different state

Old Pension Plan: These workers will get benefits under an old pension plan that was adopted in a different state

Applying the old pension plan: A government employee is eligible to receive a monthly pension upon retirement under the old pension plan. Usually, the monthly pension equals half of the retiree's most recent paycheck.

Old Pension Plan: A state that is governed by Congress has also adopted the old pension plan for its public workers. Indeed, a notice covering about 13,000 state government workers hired after 2006 under the previous pension system has been released by the Siddaramaiah administration of Karnataka. Chief Minister Siddaramaiah made this announcement and said that he had vowed to abide by the demand made by government workers who had gone on strike against the new pension plan.

I went there after he posted on social media about the workers' walkout, and I made a commitment to finish it.

"I am hopeful that this decision will provide relief to all the families of 13,000 NPS employees," said Chief Minister Siddaramaiah.

A government employee was entitled to a monthly pension under the previous pension plan once they retired. Usually, the monthly pension equals half of the retiree's most recent paycheck. Employees pay a portion of their salaries to the pension fund under the new pension plan. They are so entitled to a lump sum payment upon retirement. The new pension plan went into effect on April 1, 2004, replacing the previous one, which was terminated in December 2003.

Rajasthan reverses an OPS ruling

NPS was introduced by Bhajanlal SirCAR to the staff members at the time of their first hire. The decree makes no reference of OPS at all. This indicates unequivocally that Rajasthan will not be implementing the previous pension plan. The Bhajanlal Sharma administration has issued an order to adopt NPS again in lieu of OPS for newly recruited people. The previous Gehlot government of Rajasthan had implemented the old pension system in place of the new pension scheme.