Questions remain over pension changes as MPs back Koolmees plan
4 years, 5 months ago

Questions remain over pension changes as MPs back Koolmees plan

Dutch News  

Sweeping changes to the pension system have been backed by MPs, but questions remain about how the reforms will work in practice. Social affairs minister Wouter Koolmees secured the support of all four coalition parties as well as Labour, GroenLinks and the orthodox Protestant party SGP on Tuesday evening. Labour and GroenLinks backed the changes after securing a number of concessions, including capping the retirement age at 67 in the short term and allowing people with physically demanding jobs to retire three years earlier. Transition MPs focused in Tuesday’s debate on the implementation of the plans and the transition from the new system to the old.

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History of this topic

Govt may amend pension scheme
1 year, 2 months ago

Govt may amend pension scheme

Live Mint  

New Delhi: The Union government is likely to amend the national pension scheme by the year-end to ensure employees get at least 40-45% of their last-drawn salary as retirement payout based on recommendations of a high-level panel currently looking into the matter, two people familiar with the developments said. The altered pension scheme will continue to be linked to market …

‘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 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 …

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 …

State pension age could rise to 68 by ‘2040 or thereabouts’, says Mel Stride
1 year, 7 months ago

State pension age could rise to 68 by ‘2040 or thereabouts’, says Mel Stride

The Independent  

The Work and Pensions Secretary said the state pension age is not likely to be raised to 68 until the 2040s — but it is not a decision to be made by the current UK Government. It will be for somebody else to sift through the data in the next Parliament Mel Stride, Work and Pensions Secretary Speaking at a …

’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 …

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 …

ECONOMIC PERSPECTIVES | Debate over old pension scheme divides State governments and Centre
1 year, 11 months ago

ECONOMIC PERSPECTIVES | Debate over old pension scheme divides State governments and Centre

The Hindu  

Published : Dec 29, 2022 10:15 IST In moves that are gathering momentum, a number of State governments are announcing or implementing decisions to reverse their shift to the new pension scheme designed largely by the Centre. Under the OPS, those who were members of the scheme, which consisted mainly of regular employees of the Central and State governments, made …

PvdA and GroenLinks clear the way to support pension reform
2 years ago

PvdA and GroenLinks clear the way to support pension reform

Dutch News  

The Labour party and GroenLinks have withdrawn some of their objections to government plans to reform the pension system, clearing the way for the legislation to pass in the senate. The two parties did use the last major debate on the changes in the lower house on Thursday night to renew their call for some amendments – including a government …

PvdA and GroenLinks clear the way to support pension reform
2 years ago

PvdA and GroenLinks clear the way to support pension reform

Dutch News  

The Labour party and GroenLinks have withdrawn some of their objections to government plans to reform the pension system, clearing the way for the legislation to pass in the senate. The two parties did use the last major debate on the changes in the lower house on Thursday night to renew their call for some amendments – including a government …

Pension systems should be fair and sustainable
2 years, 2 months ago

Pension systems should be fair and sustainable

Live Mint  

Elections in key states are round the corner and a pitch for switching back to India’s old system of state pensions is growing louder. Himachal Pradesh state Congress chief Pratibha Singh recently promised that the party will bring back a defined-benefits package within 10 days if voted to power, echoing a promise party leader Rahul Gandhi made in Gujarat, another …

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 …

Letting pensioners work more may help fill job vacancies, but there may be better alternatives
2 years, 5 months ago

Letting pensioners work more may help fill job vacancies, but there may be better alternatives

ABC  

There's almost never been a harder time to find good staff. "In terms of the absolute numbers, in people re-entering the workforce and being available to work, it's probably likely that that would bring in more people," she said. "Old-age-workforce participation has already increased sharply in recent years, but older people are less likely to work in Australia than in …

Questions remain over pension changes as MPs back Koolmees plan
4 years, 5 months ago

Questions remain over pension changes as MPs back Koolmees plan

Dutch News  

Sweeping changes to the pension system have been backed by MPs, but questions remain about how the reforms will work in practice. Social affairs minister Wouter Koolmees secured the support of all four coalition parties as well as Labour, GroenLinks and the orthodox Protestant party SGP on Tuesday evening. Labour and GroenLinks backed the changes after securing a number of …

Pension plan clears final hurdle as FNV union members back reform
4 years, 5 months ago

Pension plan clears final hurdle as FNV union members back reform

Dutch News  

Members of the FNV union have cleared the way for the government to reform the pension system after voting in favour of the new deal. The changes will make pension payouts more dependent on stock market performance, which has led the Socialist Party to brand the new system a ‘gamblers’ pension’. ‘We have worked out plans that will ensure that …

Pension plan clears final hurdle as FNV union members back reform
4 years, 5 months ago

Pension plan clears final hurdle as FNV union members back reform

Dutch News  

Members of the FNV union have cleared the way for the government to reform the pension system after voting in favour of the new deal. The changes will make pension payouts more dependent on stock market performance, which has led the Socialist Party to brand the new system a ‘gamblers’ pension’. ‘We have worked out plans that will ensure that …

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