Why chorus against new pension scheme has become a raging political issue in many states
1 year, 11 months ago

Why chorus against new pension scheme has become a raging political issue in many states

India Today  

“I certainly share the view that this move is absurd and a recipe for financial bankruptcy,” said Montek Singh Ahluwalia on January 6, responding to certain states’ decision to get back to the Old Pension Scheme. But his defense of the new pension scheme brought by the previous government led by the BJP in 2004 has not cut with many states ruled by the Congress. The tussle between parties over the OPS and the New Pension Scheme is setting the political tone for the upcoming Assembly elections in many states as well as the 2024 general polls. Tamil Nadu During a demonstration held in front of Kanyakumari Collectorate, the Joint Action Committee of Teachers’ Organisation – Government Employees’ Organisation -- on Saturday said the teachers and the government employees will “abandon” Dravida Munnetra Kazhagam in upcoming elections if the Chief Minister MK Stalin-led State government refuses to fulfill their demand of the revival of the OPS.

Karnataka States Congress Pension Employees State Government Employees Old Centre Chhattisgarh Many States Ops This Move New Pension Scheme Old Pension Scheme Scheme Nps Montek Singh Ahluwalia Issue Bjp  chorus  employees  montek  pension  old  states  raging  issue  bjp  scheme  nps  ops  state  political

History of this topic

Resurrecting the New Pension Scheme (NPS)
3 months ago

Resurrecting the New Pension Scheme (NPS)

Times of India  

There is nothing called a perfect public policy scheme – best epitomised into NPS’ failure to stand up to popular expectations. Government employees reluctantly joining the NPS as reluctant subscribers jokingly called it as ‘No Pension Scheme’. Yet, until the unified pension scheme came recently, there was no alternative for the large NPS subscribers, perceiving themselves as poor cousins to …

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 …

Unified pension scheme: T.N. government begins studying possible implications over UPS
3 months, 4 weeks ago

Unified pension scheme: T.N. government begins studying possible implications over UPS

The Hindu  

Even as the Tamil Nadu government is awaiting full details of the Unified Pension Scheme, it has begun the preliminary task of studying possible implications in the event of the adoption of such a scheme in the State. As and when the government decides to implement the State-specific pension scheme, the political leadership would prefer to wait for an “opportune …

State government replaces NPS with sweeter revised pension scheme
3 months, 4 weeks ago

State government replaces NPS with sweeter revised pension scheme

Hindustan Times  

MUMBAI: Within 24 hours of the union government’s approval of the Unified Pension Scheme to replace the New Pension Scheme for its employees, the Mahayuti government approved the UPS for around 8.3 lakh employees in a cabinet meeting on Sunday. HT Image Around 1.4 million government and semi-government employees, including Class 1 officers, Class 4 employees and teachers, had threatened …

Maharashtra becomes first state to implement Unified Pension Scheme | DETAILS
3 months, 4 weeks ago

Maharashtra becomes first state to implement Unified Pension Scheme | DETAILS

India TV News  

Maharashtra cabinet: The Maharashtra government, led by Chief Minister Eknath Shinde, has become the first in the country to implement the Unified Pension Scheme for state employees. Additionally, the cabinet cleared the Rs 7,000 crore Nar-Par-Girna river linking project, which is expected to primarily benefit the northern Maharashtra districts of Nashik and Jalgaon. Other major decisions taken by Maharashtra Cabinet …

Unified Pension Scheme is a U-turn That Will Have Severe Fiscal Implications
3 months, 4 weeks ago

Unified Pension Scheme is a U-turn That Will Have Severe Fiscal Implications

The Quint  

It is important to note that the NPS was introduced by the Vajpayee government because of a "fundamental issue" associated with the OPS, that is, it was unfunded and will ultimately balloon the nation’s fiscal deficit to unsustainable levels. In 1990-91, the Centre’s pension bill was Rs 3,272 crore, and the outgo for all states put together was Rs 3,131 …

Unified Pension Scheme: Who is eligible? What's the minimum amount? Explained
3 months, 4 weeks ago

Unified Pension Scheme: Who is eligible? What's the minimum amount? Explained

Hindustan Times  

The union cabinet on Saturday approved a Unified Pension Scheme, which will benefit approximately 23 lakh government employees and will serve as an alternative to the National Pension System. Union minister Ashwini Vaishnaw briefed the media on the central government's new Unified Pension Scheme. Prime minister Narendra Modi, who chaired the meeting, posted on X saying, “The Unified Pension Scheme …

New pension scheme to benefit central govt staff
3 months, 4 weeks ago

New pension scheme to benefit central govt staff

Hindustan Times  

The Union cabinet led by Prime Minister Narendra Modi on Saturday approved a new pension policy for nearly 2.3 million central government employees, unveiling a framework that will give assured 50% of basic pay as monthly payout, assuaging federal staff unions that had sought guaranteed retirement benefits. Modi had set up a panel led by cabinet secretary-designate TV Somanathan, the …

Telangana Government Workers Reject Centre’s Pension Plan
3 months, 4 weeks ago

Telangana Government Workers Reject Centre’s Pension Plan

Deccan Chronicle  

Hyderabad: In a strong show of resistance, state government employees covered under the New Pension Scheme have expressed their firm opposition to the Unified Pension Scheme approved by the Union Cabinet on Saturday. The National Movement for Old Pension Scheme secretary-general, G. Sthitaprajna, voiced the employees' dissatisfaction with the new Unified Pension Scheme announced by the Centre. "If a government …

Govt, workers thrash out key issues in new pension scheme
4 months, 2 weeks ago

Govt, workers thrash out key issues in new pension scheme

Hindustan Times  

Representatives of the government and its employees have reached a consensus on the contentious pension issue, addressing concerns about post-retirement benefits without reverting to the old pension scheme, according to two people familiar with the matter. “After working out the finer details, the committee will submit its report to the government soon.” The resolution addresses three core apprehensions of employees, …

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 …

Congress ignores Old Pension Scheme in Lok Sabha election manifesto, says 'it's in our minds'
8 months, 2 weeks ago

Congress ignores Old Pension Scheme in Lok Sabha election manifesto, says 'it's in our minds'

Op India  

On 5th April, the Congress party released its manifesto ‘Nyay Patra’ for the coming Lok Sabha elections. After strongly campaigning for reverting to Old Pension Scheme in state assembly elections, the party has now backtracked and made no mention of OPS in its manifesto for the general elections. Congress’s decision to restore the Old Pension Scheme has taken a heavy …

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. …

13,000 state govt employees in Karnataka to be covered under Old Pension Scheme, CM Siddaramaiah announces
10 months, 4 weeks ago

13,000 state govt employees in Karnataka to be covered under Old Pension Scheme, CM Siddaramaiah announces

Op India  

The Karnataka government has issued a notification to cover about 13,000 state government employees, recruited after 2006, under the Old Pension Scheme. Taking to X, Chief Minister Siddaramaiah said that he had promised to fulfil this demand to the government employees when they were on a strike against the new pension scheme. “An order has been issued to cover the …

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 …

The Old Pension Scheme wildfire must be stopped before it’s too late
1 year, 1 month ago

The Old Pension Scheme wildfire must be stopped before it’s too late

Live Mint  

The political battle between protecting the National Pension System and going back to the Old Pension Scheme is heating up, thanks to the various state elections just started. Public opinion and voter passion is being stirred by presenting the OPS as ‘pro-people’ and NPS as ‘anti-people.’ Meme creators and slogan writers are busy making graphic and emotive campaigns. OPS guarantees …

Punjab govt. employees await implementation of old pension scheme
1 year, 2 months ago

Punjab govt. employees await implementation of old pension scheme

The Hindu  

Pritam Singh was elated as were other employees last November when the Aam Aadmi Party government in Punjab issued a notification to restore the old pension scheme. ‘Optimism faded away’ Mr. Singh retired as a teacher from a government school in Ludhiana this April and since then has been drawing pension under the NPS. “I am getting a monthly pension …

‘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 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 …

Himachal Pradesh CM seeks refund of more than ₹9,200 crore deposited in NPS
1 year, 6 months ago

Himachal Pradesh CM seeks refund of more than ₹9,200 crore deposited in NPS

Live Mint  

Himachal Pradesh Chief Minister Sukhvinder Sukhu has announced his intention to meet with Union Finance Minister Nirmala Sitharaman in the national capital to seek a refund of ₹9242.60 crore deposited by the state government in the New Pension Scheme. Speaking at the 'Purani Pension Aabhar Rally' organised for the state's government employees, Sukhu reiterated the Congress government's commitment to fulfilling …

Congress will ‘compel’ Centre to implement old pension scheme in entire country: Rajasthan CM Gehlot
1 year, 6 months ago

Congress will ‘compel’ Centre to implement old pension scheme in entire country: Rajasthan CM Gehlot

The Hindu  

Rajasthan Chief Minister Ashok Gehlot on Sunday said the Congress will “compel” the Centre to implement the old pension scheme in the entire country, asserting that the committee on the new pension scheme was constituted under pressure mounted by the party. The committee would suggest whether in the light of the existing framework and structure of the National Pension System, …

Should States revert to the Old Pension Scheme? | The Hindu Parley Podcast
1 year, 6 months ago

Should States revert to the Old Pension Scheme? | The Hindu Parley Podcast

The Hindu  

The National Pension Scheme was launched in 2004. While the older pension scheme offered defined benefits to all government employees without any contribution on their part, the NPS requires employees to contribute a sum throughout their working years. Almost two decades after the NPS came into effect, several States are switching back to the Old Pension Scheme. Earlier this year, …

Should States revert to the Old Pension Scheme?
1 year, 6 months ago

Should States revert to the Old Pension Scheme?

The Hindu  

The National Pension Scheme was launched in 2004. While the older pension scheme offered defined benefits to all government employees without any contribution on their part, the NPS requires employees to contribute a sum throughout their working years. Editorial | The old and the new: On the demand for the Old Pension Scheme The States trying to revert to the …

Women’s pension in Himachal Pradesh gives Congress political ammunition in Punjab to corner AAP
1 year, 8 months ago

Women’s pension in Himachal Pradesh gives Congress political ammunition in Punjab to corner AAP

The Hindu  

A day after Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu announced a pension of ₹1,500 to all the 9,000 women of Spiti, one of the ‘tribal areas’ of the State as a part of the Congress’s pre-poll guarantee, the Congress party in neighbouring Punjab has got political ammunition to target the Aam Aadmi Party in the run-up to the Jalandhar …

Why we need to debate the Old Pension Scheme
1 year, 8 months ago

Why we need to debate the Old Pension Scheme

The Hindu  

What is the fiscal space for the Old Pension Scheme? The OPS guarantees government employees 50% of their final drawn pay plus Dearness Allowance as a post-retirement income for life, and 50% of that pension to any qualifying dependent family members in the event of death of that employee. There continue to be concerns that the OPS would soon become …

Massive rally planned for revival of old pension scheme on August 23
1 year, 8 months ago

Massive rally planned for revival of old pension scheme on August 23

Deccan Chronicle  

HYDERABAD: State government employees covered under the contributory pension scheme will take out a rally here on August 23 demanding the restoration of the old pension scheme. The decision was taken at an emergency meeting of the Telangana State CPS Employees Union executive council on Monday that was attended by union’s state president G. Sthitaprajna, treasurer Naresh Goud, general secretary …

Amid Protests In Several States, Centre To Form Panel To Look Into Pension System Of Govt Staff
1 year, 9 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 …

The old and the new: The Hindu Editorial on the demand for the Old Pension Scheme
1 year, 9 months ago

The old and the new: The Hindu Editorial on the demand for the Old Pension Scheme

The Hindu  

The Union Finance Ministry’s reiteration in the Rajya Sabha recently, of the legal position, i.e., the absence of any provision to allow the accumulated corpus of members of the National Pension System to be “refunded and deposited back” to States, should have a deterrent effect on those States contemplating a return to the Old Pension Scheme. The Ministry’s stand reflects …

Some States lagging behind on NPS dues, Centre tells RS
1 year, 9 months ago

Some States lagging behind on NPS dues, Centre tells RS

The Hindu  

Some States are falling behind in making contributions towards their employees’ retirement savings under the New Pension Scheme, the Finance Ministry indicated on Tuesday, flagging “an increasing divergence of practices between different State Governments” in the way they handle pension obligations for staff recruited after 2004. While a majority of the States are paying the correct dues towards their employees’ …

Explained: Why France pension reforms are a reminder of India’s NPS vs OPS debate
1 year, 9 months ago

Explained: Why France pension reforms are a reminder of India’s NPS vs OPS debate

Firstpost  

France’s Emmanuel Macron is facing the toughest time of his political career. We take a closer look at France’s pension reforms and compare them to India, where a debate is raging over the benefits of the New Pension Scheme vis-à-vis the Old Pension Scheme. Hundreds of students gathered in Paris on Monday night to protest French President Emmanuel Macron's pension …

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 …

Old pension scheme vs new pension scheme: A comprehensive comparison
1 year, 9 months ago

Old pension scheme vs new pension scheme: A comprehensive comparison

Live Mint  

The pension system is an integral part of the economic and social security system of a country. In India, the pension system has gone through several changes over the years, from the Old Pension Scheme to the New Pension Scheme. The old pension scheme and the new pension scheme are both retirement savings plans, but they differ in terms of …

’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 …

Uttam: If voted to power, Congress can restore old pension scheme
1 year, 9 months ago

Uttam: If voted to power, Congress can restore old pension scheme

Deccan Chronicle  

Hyderabad: Congress leader N. Uttam Kumar Reddy on Monday promised to restore the old pension scheme if the party was elected to power. He was speaking at a joint press conference with PCC working president B. Mahesh Kumar Goud at Gandhi Bhavan to woo support for party candidate Galreddy Harshavardhan Reddy in the Mahbubnagar-Ranga Reddy-Hyderabad teachers’ Legislative Council constituency “We …

One-time option for ‘Old Pension Scheme’ ? Check eligibility, last date
1 year, 9 months ago

One-time option for ‘Old Pension Scheme’ ? Check eligibility, last date

Hindustan Times  

In a significant move, the Centre decided to offer a one-time option for the ‘Old Pension Scheme’ to a select group of central government employees. “Representations have been received…from the government servants appointed on or after 01.01.2004 requesting for extending the benefit of the pension scheme under Central Civil Services Rules, 1972 on the ground that their appointment was made …

Implementation of OPS to be detrimental for larger public: Ex-RBI governor
1 year, 9 months ago

Implementation of OPS to be detrimental for larger public: Ex-RBI governor

Live Mint  

With several non-BJP-ruled states contemplating going back to Old Pension Scheme system, the former RBI Governor D Subbarao has made a piece of cautionary advice about the danger of retrograding to this rule. The ex-RBI Governor said the decision to restart OPS will be decidedly a “regressive move” and will provide more privilege to government servants at the cost of …

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 …

Panchkula: Haryana govt employees protest outside CM house demanding restoration of Old Pension Scheme I WATCH
1 year, 10 months ago

Panchkula: Haryana govt employees protest outside CM house demanding restoration of Old Pension Scheme I WATCH

India TV News  

Panchkula OPS protests: Thousands of government employees protested near Haryana Chief Minister Manohar Lal Khattar's residence in Panchkula on Sunday demanding the restoration of the Old Pension Scheme in the state. RBI cautions states against reverting to old pension scheme Last month, the Reserve Bank sounded a note of caution on reversion to the old pension scheme by some states, …

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 …

Want Old Pension Scheme implementation even if party expels me: Senior M.P. BJP leader
1 year, 10 months ago

Want Old Pension Scheme implementation even if party expels me: Senior M.P. BJP leader

The Hindu  

Not toeing the Bharatiya Janata Party’s official line on the Old Pension Scheme, former Madhya Pradesh Minister and senior Bharatiya Janata Party leader Gaurishankar Bisen has demanded its implementation even if it meant his expulsion from the party. One section claimed that it was business as usual for someone like Mr. Bisen — who had aired divergent views from the …

Shinde goes against Union govt stand, assures OPS in Sindhudurg
1 year, 10 months ago

Shinde goes against Union govt stand, assures OPS in Sindhudurg

Hindustan Times  

MUMBAI: Chief Minister Eknath Shinde on Thursday said his government would consider implementing the Old Pension Scheme. Shinde’s comments, made at a function of teachers’ association, in Sindhudurg district on Thursday, gain significance as just three weeks ago, his deputy Devendra Fadnavis had said during a campaign speech that he was not “negative” about OPS. Both Prime Minister and Finance …

Will populist politics push Maharashtra back to Old Pension Scheme regime?
1 year, 10 months ago

Will populist politics push Maharashtra back to Old Pension Scheme regime?

India Today  

In the recent elections to the Maharashtra state legislative council from the teachers’ and graduates’ constituencies, the ruling BJP faced a shock defeat in four of five seats. Apart from infighting and poor preparation, another reason attributed to the BJP’s setback was the rising tide of demands that the Old Pension Scheme be reintroduced for government and semi-government employees in …

Reverting to old pension scheme poses big financial risk, RBI warns States
1 year, 11 months ago

Reverting to old pension scheme poses big financial risk, RBI warns States

The Hindu  

Calling it a big financial risk, the Reserve Bank of India has advised States against the likely reversion to old pension system. In its latest report titled ‘State Finances: A Study of Budgets of 2022-23’, the central bank reversion to OPS by some States poses a major risk on the “subnational fiscal horizon” and would result in accumulation of unfunded …

Old versus new pension scheme: A case of 'good politics' but bad economics?
1 year, 11 months ago

Old versus new pension scheme: A case of 'good politics' but bad economics?

India Today  

Last week, the Congress government in Himachal Pradesh announced the restoration of the old pension scheme for government employees. Hundreds of government employees, gathered at the Jharkhand secretariat, celebrated the implementation of OPS by the Hemant Soren government in September last year. Sections of government employees in Tamil Nadu have threatened to abandon the ruling DMK in the next elections …

Discover Related