Defence unions demand restoration of old pension scheme
2 years, 2 months ago

Defence unions demand restoration of old pension scheme

The Hindu  

About 3,000 civil defence workers, under the banner of All India Defence Employees Federation, staged a protest at Jantar Mantar on Monday, demanding that the new pension scheme be scrapped and the old pension scheme be restored. The AIDEF, an umbrella organisation of various unions working in the defence sector, has submitted a memorandum to Ministers Rajnath Singh, Nirmala Sitharaman and Jitendra Singh, pointing out that the employees under the NPS, despite their contribution during the entire service period, are getting only a meagre pension. “We were demanding that civilian employees in the defence sector should get pension as per the old scheme as soldiers in Army, Navy and Air Force avail now. Pointing out that the State government in Rajasthan, Chhattisgarh and Jharkhand have decided to scrap NPS and restore the old scheme, the memorandum suggested that the Centre follow suit.

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History of this topic

Reforms to strengthen Unified Pension Scheme
3 months, 2 weeks ago

Reforms to strengthen Unified Pension Scheme

New Indian Express  

On August 24, the Union cabinet approved the Unified Pension Scheme, a significant step towards providing government employees a secure and assured pension after retirement. Over the last few years, the opposition has highlighted the dissatisfaction of government employees with the National Pension Scheme, commonly known as the New Pension Scheme. First, assured pension of 50 percent of the employee's …

Why did the Centre alter its pension plan?
3 months, 3 weeks ago

Why did the Centre alter its pension plan?

The Hindu  

The story so far: Last weekend, the Union Cabinet signed off on a major shift in the approach for providing old age income security to Central government employees, setting the stage for a new Unified Pension Scheme to be launched on April 1, 2025. There are five major components of the UPS benefits, starting with the assurance that government employees …

Unified Pension Scheme: How does it differ from the Old and New Pension Scheme?
3 months, 3 weeks ago

Unified Pension Scheme: How does it differ from the Old and New Pension Scheme?

The Hindu  

The story so far: Fulfilling a long-standing demand of government unions, the Centre on Saturday, unveiled a new ‘Unified Pension Scheme’ assuring government employees half their last drawn salary as a lifelong monthly benefit. The move is also a surprising rollback by the NDA government as it was the original NDA – the Atal Bihari Vajpayee government – which had …

Old vs new pension scheme: Will Budget 2024 offer 50% of last drawn salary as annuity?
5 months ago

Old vs new pension scheme: Will Budget 2024 offer 50% of last drawn salary as annuity?

Firstpost  

Amid calls to restore old pension scheme, government is considering a proposal to increase pension benefits under National Pension System. Reports suggest Finance Minister Nirmala Sitharaman may announce a 50% pension guarantee of employees’ last drawn salary in Budget 2024. File Photo Amid calls, including from Opposition parties, for restoration of old pension scheme, Narendra Modi government is likely to …

Restoration of Old Pension Scheme: Govt. employees to go on indefinite strike from May 1
9 months, 3 weeks ago

Restoration of Old Pension Scheme: Govt. employees to go on indefinite strike from May 1

The Hindu  

A platform of trade unions and associations working among 28 lakh employees of the Union government, including the Railways and Central Public Sector Undertakings, and more than three crore employees and teachers with the State governments have decided to go on an indefinite strike from May 1 demanding the restoration of Old Pension Scheme replacing the present National Pension Scheme. …

Will deliberate on Old Pension Scheme after panel report: Amit Shah
1 year, 1 month ago

Will deliberate on Old Pension Scheme after panel report: Amit Shah

The Hindu  

Union Home Minister Amit Shah said on Thursday that the government would deliberate on restoring the Old Pension Scheme once the committee constituted for the purpose submitted its report. Mr. Shah, while replying to a question on restoration of the OPS at a press conference in Jaipur, said, “We have constituted a committee to study the OPS. As soon as …

‘We strongly support’: Kejriwal on demands to bring back old pension scheme
1 year, 2 months ago

‘We strongly support’: Kejriwal on demands to bring back old pension scheme

Hindustan Times  

Delhi chief minister Arvind Kejriwal on Sunday expressed his support for the demands of central and state government employees to reinstate the old pension scheme, who have also staged a protest for the same. The Congress party also joined the chorus in support of the protest against the New Pension Scheme and the call to restore the old pension scheme. …

Restore Old Pension Scheme before 2024 election, employees urge Centre
1 year, 4 months ago

Restore Old Pension Scheme before 2024 election, employees urge Centre

The Hindu  

Thousands of employees of the Union government and Central public sector undertakings, including the defence establishments, marched to Ramlila Maidan here on Thursday demanding the restoration of the Old Pension Scheme. After the protest rally, organised by the Joint Forum for Restoration of Old Pension Scheme, a platform of about 60 unions, the employees sent a memorandum to Prime Minister …

Govt employee unions to hold ‘Pension Rights Maharally’ in Delhi today
1 year, 4 months ago

Govt employee unions to hold ‘Pension Rights Maharally’ in Delhi today

Live Mint  

Employees of central and state government departments will gather at Ramlila Maidan on Thursday to demand the restoration of the Old Pension Scheme, a group of railway union leaders have said. As reported by PTI, the 'Pension Rights Maharally' will be organised under the banner of the Joint Forum for Restoration of Old Pension Scheme /National Joint Council of Action, …

Govt Likely To Change NPS Rules For 40%-45% Assured Pension: Report
1 year, 6 months ago

Govt Likely To Change NPS Rules For 40%-45% Assured Pension: Report

ABP News  

The central government is considering revising the current market-linked National Pension Scheme to provide its employees with a minimum pension of 40 per cent to 45 per cent of their last drawn salary, reported news agency Reuters citing two government officials. Under the current National Pension Scheme, employees are required to contribute 10 per cent of their basic salary, while …

Govt mulling over assured pensions at 40-45% as some states move back to OPS
1 year, 6 months ago

Govt mulling over assured pensions at 40-45% as some states move back to OPS

Live Mint  

Amid the politics of the Old Pension Scheme vs National Pension Scheme, the Government of India officials on Wednesday said that they are mulling over some changes in the new market-linked pension scheme which will ensure employees a minimum pension of 40%-45% of their last drawn salary, a report by Reuters said. The development comes as many Opposition-ruled states in …

Amid Protests In Several States, Centre To Form Panel To Look Into Pension System Of Govt Staff
1 year, 8 months ago

Amid Protests In Several States, Centre To Form Panel To Look Into Pension System Of Govt Staff

ABP News  

Amid massive protests in several states by government employees demanding restoration of the old pension scheme, Union Finance Minister Nirmala Sitharaman on Friday said the Centre would form a committee to look into issues related to pension, ANI reported. READ | 18 Lakh Maha Govt Staff Go On Strike For Old Pension Scheme After Failed Talks From 2004, the Central …

Explained: Why govt employees are demanding restoration of Old Pension Scheme?
1 year, 9 months ago

Explained: Why govt employees are demanding restoration of Old Pension Scheme?

Live Mint  

Demand for restoration of the Old Pension Scheme is growing with each passing day as many employees in Maharashtra and Haryana went on strike on Tuesday seeking its return. The former RBI governor said the old pension scheme does involve massive future outlays because of the indexation of pensions to current salaries. Old Pension Scheme is a retirement scheme approved …

Restore old pension scheme, Central Government officers urge Cabinet Secretary
1 year, 9 months ago

Restore old pension scheme, Central Government officers urge Cabinet Secretary

The Hindu  

A section of officers, led by the Confederation of Central Government Employees and Workers and the All India State Government Employees Federation, has approached Cabinet Secretary Rajiv Gauba demanding that the old pension scheme be restored and the National Pension Scheme revoked. The organisations said the Defined Benefit Pension Scheme, or the OPS, for government employees was a well-built and …

Maharashtra: 17 lakh govt employees go on strike for Old Pension Scheme
1 year, 9 months ago

Maharashtra: 17 lakh govt employees go on strike for Old Pension Scheme

Live Mint  

Lakhs of employees of the Maharashtra government went on strike on Tuesday seeking restoration of the Old Pension Scheme. From sanitation workers to teachers, from paramedics at hospitals to other government staff, everyone has joined the strike for the implementation of the old pension scheme on Tuesday. Under Old Pension Scheme, the pension amount is provided by the government, which …

Explained: National Pension Scheme (NPS) vs Old Pension Scheme (OPS)
1 year, 9 months ago

Explained: National Pension Scheme (NPS) vs Old Pension Scheme (OPS)

Hindustan Times  

With every passing day, demand for the restoration of the Old Pension Scheme is growing louder. Centre rolls out a one-time option for select employees to opt for OPS The central government recently decided to offer a one-time option for the "Old Pension Scheme" to a select group of central government employees. from the government servants appointed on or after …

’Find less costly ways...’: Raghuram Rajan speaks on Old Pension Scheme
1 year, 9 months ago

’Find less costly ways...’: Raghuram Rajan speaks on Old Pension Scheme

Live Mint  

Former RBI Governor Raghuram Rajan has expressed his concern regarding the Old Pension Scheme. He said that restarting the old pension scheme would be an enormous obligation in the long run, adding, "less costly ways should be found to address the demands of government pensioners". The former RBI governor said the old pension scheme does involve massive future outlays because …

Select Central government employees can opt for Old Pension Scheme
1 year, 9 months ago

Select Central government employees can opt for Old Pension Scheme

The Hindu  

In a significant decision, the government has decided to give a one-time option to select Central government employees to migrate to the Old Pension Scheme, who applied for jobs advertised before December 22, 2003, the day the National Pension System was notified but joined the service in 2004, when the NPS came into effect. The option is available to the …

Reverting to Old Pension Scheme will privilege government servants at cost of larger public: Former RBI governor D. Subbarao
1 year, 9 months ago

Reverting to Old Pension Scheme will privilege government servants at cost of larger public: Former RBI governor D. Subbarao

The Hindu  

The decision of some States to restart Old Pension Scheme will be decidedly a regressive move and will provide more privilege to government servants at the cost of larger public, majority of which has no social safety net, former RBI governor D. Subbarao has said. According to Mr. Subbarao, if State governments revert to a 'pay as you go' pension …

Maharashtra not entirely negative on Old Pension Scheme: Devendra Fadnavis
1 year, 9 months ago

Maharashtra not entirely negative on Old Pension Scheme: Devendra Fadnavis

India Today  

Maharashtra's Deputy Chief Minister Devendra Fadnavis on Friday said that the government is not "entirely negative" about the Old Pension Scheme for government employees, but added that any decision on the plan will have to be made keeping in mind the state's finances. Fadnavis's latest remarks came hours after he echoed Montek Singh Ahluwalia’s opposition to the old pension scheme …

Is there a middle way between the Old Pension Scheme and the New Pension Scheme? | In Focus podcast
1 year, 10 months ago

Is there a middle way between the Old Pension Scheme and the New Pension Scheme? | In Focus podcast

The Hindu  

Five states – Rajasthan, Chhattisgarh, Jharkhand, Punjab and Himachal Pradesh – have informed the Centre that they would be reverting to the Old Pension Scheme. Some analysts even believe that one of the reasons for the Congress victory in Himachal was its campaign promise to revert to the Old Pension Scheme. But government employees in different states have staged protests …

Protests over old pension scheme rock Panchkula, police use tear gas | Details here
1 year, 10 months ago

Protests over old pension scheme rock Panchkula, police use tear gas | Details here

India Today  

With Haryana set to go to the polls later this year, thousands of state government employees gathered in Panchkula on Sunday to press their demand for the restoration of the old pension scheme. Government employees in Haryana are demanding the restoration of the old pension scheme as the scheme has been introduced in the Congress-ruled states of Chhattisgarh, Rajasthan and …

Old pension scheme applies to all CAPF personnel, says HC
1 year, 11 months ago

Old pension scheme applies to all CAPF personnel, says HC

Hindustan Times  

Holding that the Central Armed Police Forces are a part of the armed forces of the union government, the Delhi High court has ruled that all employees of these paramilitary forces will be entitled to avail the Old Pension Scheme as applicable to the Army, Navy and Airforce. In a landmark judgment on Wednesday, a bench of justices Suresh Kait …

Delhi High court approves old pension scheme for Central Paramilitary forces
1 year, 11 months ago

Delhi High court approves old pension scheme for Central Paramilitary forces

India Today  

In a move that is set to benefit Central Paramilitary Forces, the Delhi High court on Wednesday said the old pension scheme will be made available to the CAPF as they are a part of the armed forces. A division bench of Justices Suresh Kait and Neena Bansal in a judgement on 82 petitions said all those people who were …

Old pension scheme will put burden of ₹1.10 lakh crore on exchequer, Maharashtra govt won't revert to it: Fadnavis
2 years ago

Old pension scheme will put burden of ₹1.10 lakh crore on exchequer, Maharashtra govt won't revert to it: Fadnavis

The Hindu  

Maharashtra Deputy Chief Minister Devendra Fadnavis on Wednesday said the government will not revert to the old pension scheme as it would put a burden of ₹1.10 lakh crore on the exchequer and lead to bankruptcy of the state. He also lauded the then Congress-Nationalist Congress Party government for taking the decision of stopping the old pension scheme in the …

How Old Pension Scheme Is Different From NPS As Himachal CM Reiterates Promise
2 years ago

How Old Pension Scheme Is Different From NPS As Himachal CM Reiterates Promise

News 18  

Himachal Pradesh new Chief Minister Sukhwinder Singh Sukhu on Sunday said the state government will implement old pension scheme in the first Cabinet meeting. Here’s the difference between the two: Old Pension Scheme Vs New Pension Scheme The government’s old pension scheme, referred to as the Defined Benefit Pension System, is based on the last pay drawn by the employee. …

Cong, AAP Promise Old Pension Scheme: Will OPS Emerge as Key Issue in Gujarat After Himachal?
2 years ago

Cong, AAP Promise Old Pension Scheme: Will OPS Emerge as Key Issue in Gujarat After Himachal?

News 18  

With the 182-member Gujarat Assembly election around the corner, both Aam Aadmi Party and Congress are making a range of poll promises to halt the BJP’s 27-year rule in the state. The BJP-led NDA government discontinued the old pension scheme in December 2003, following which the new pension scheme was implemented on April 1, 2004. Difference Between Old And New …

Old pension scheme will burden future taxpayers: NITI Aayog Vice-Chairman
2 years ago

Old pension scheme will burden future taxpayers: NITI Aayog Vice-Chairman

The Hindu  

NITI Aayog Vice-Chairman Suman Bery on Sunday expressed concern over the revival of Old Pension Scheme by some states, saying it would burden future taxpayers at a time when India needs to focus on fiscal prudence and promoting sustained growth. In an interview to PTI, Mr. Bery also underlined the need for enhancing capital expenditure and creating a space for …

NITI Aayog VC expresses concern over revival of old pension scheme, says it will burden future taxpayers
2 years ago

NITI Aayog VC expresses concern over revival of old pension scheme, says it will burden future taxpayers

India TV News  

Old Pension Scheme: NITI Aayog Vice Chairman Suman Bery on Sunday expressed concern over the revival of Old Pension Scheme by some states, saying it would burden future taxpayers at a time when India needs to focus on fiscal prudence and promoting sustained growth. "Within this debt limit, duly elected state governments are free to make their own choices on …

Punjab government approve the implementation of Old Pension Scheme
2 years, 1 month ago

Punjab government approve the implementation of Old Pension Scheme

Live Mint  

At a time when the Old Pension Scheme is turning into a political issue with political parties promising restoration of scheme during elections, the Bhagwant Mann-led Punjab government approved the notification for implementation of the OPS in the state. An official of the government claimed that the decision will benefit 1.75 lakh government employees and currently, about 1.26 lakh employees …

Cong, AAP make old pension scheme restoration demand major poll plank - The Hindu
2 years, 1 month ago

Cong, AAP make old pension scheme restoration demand major poll plank - The Hindu

The Hindu  

The demand for restoration of the old pension scheme has emerged as a major poll plank in Gujarat with both the Congress and the Aam Aadmi Party promising to implement it if voted to power in the state where the Assembly elections are scheduled next month. The employees have staged massive agitations against the government in Gujarat while demanding restoration …

Will Old Pension Scheme dent BJP's chances in Himachal?
2 years, 1 month ago

Will Old Pension Scheme dent BJP's chances in Himachal?

India Today  

In Himachal Pradesh, the opposition Congress and Aam Aadmi Party have been wooing government employees with the promise of bringing back the old pension scheme. Himachal Pradesh Congress President Pratibha Singh announced that her party will implement OPS on the first day of the formation of the government in the state. Prominent BJP leader and two-time chief minister of Himachal …

Bring back old pension scheme, Central government employees write to Cabinet Secretary
2 years, 1 month ago

Bring back old pension scheme, Central government employees write to Cabinet Secretary

The Hindu  

A federation of Central government employees’ unions has written to the Cabinet Secretary to restore the Old Pension Scheme, stating that the National Pension System is a disaster for retiring employees in their old age. The letter signed by the Joint Consultative Machinery, an apex body of various government unions comprising Group B and Group C officials, said: “It is …

In Himachal, old pension scheme issue could hamper BJP’s bid to retain power
2 years, 1 month ago

In Himachal, old pension scheme issue could hamper BJP’s bid to retain power

The Hindu  

As the ruling Bharatiya Janta Party aims to retain power in Himachal Pradesh, the anguish among several government employees over the non-implementation of the old pension scheme could prove to be a major hurdle in BJP’s ambition of ‘mission repeat’. 62, who retired in 2019 at 58, from the post of associate professor at government college at Rewalsar in Mandi, …

Why Old Pension Scheme is bad politics, bad economics
2 years, 3 months ago

Why Old Pension Scheme is bad politics, bad economics

Hindustan Times  

More and more opposition parties in India seem to be warming to the idea of reverting to the Old Pension Scheme. The OPS offers guaranteed, inflation- and pay commission-indexed pension payments to retired government employees and their spouses without any contribution from the employees. The New Pension Scheme – it was first implemented by the Centre in 2004 and 27 …

Himachal Pradesh government employees to hold protest outside Vidhan Sabha demanding restoration of old pension scheme
2 years, 4 months ago

Himachal Pradesh government employees to hold protest outside Vidhan Sabha demanding restoration of old pension scheme

Firstpost  

The old pension scheme, under which the entire pension amount was given by the government, was discontinued from 1 April, 2004. Under the new scheme, employees contribute 10 per cent of their salary towards pension while the state government contributes 14 per cent Shimla: Himachal Pradesh government employees will on Saturday hold a protest outside the Vidhan Sabha demanding restoration …

The demand for restoring the old pension scheme
2 years, 8 months ago

The demand for restoring the old pension scheme

The Hindu  

The story so far: On February 23, Rajasthan Chief Minister Ashok Gehlot announced restoration of the old pension scheme for the government employees, who joined the service on or after January 1, 2004. The Finance Ministry had earlier ruled out proposals by a federation of Central and State governments employees saying that the “changes will be financially untenable.” What is …

The Hindu Explains | Why is the government tweaking the National Pension System?
3 years, 7 months ago

The Hindu Explains | Why is the government tweaking the National Pension System?

The Hindu  

The story so far: Started as the New Pension Scheme for government employees in 2004 under a new regulator called the Pension Fund Regulatory and Development Authority, the National Pension System has been open for individuals from all walks of life to participate and build a retirement nest-egg. To avoid forcing people into such an unattractive investment, the regulator has …

Govt Disbursed Over Rs 42,700 Crore to 20.6 Lakh Ex-servicemen Under OROP in 5 Years
4 years, 1 month ago

Govt Disbursed Over Rs 42,700 Crore to 20.6 Lakh Ex-servicemen Under OROP in 5 Years

News 18  

The central government has disbursed more than Rs 42,700 crore to 20.6 lakh retired defence personnel under the One Rank One Pension scheme, which was notified five years ago, the Defence Ministry said on Friday. "The yearly recurring expenditure on account of OROP is about Rs 7,123 crore and for about six years, starting from July 1, 2014, the total …

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