Modi Government on Old Pension Scheme: The demand for Old Pension System is increasing all over the country. Compared to the new pension system, old pension is being demanded in many states. In view of the demands of the whole country, the Modi government is going to make a big change in the pension scheme.
Old Pension Scheme: The demand for old pension system is increasing all over the country. Compared to the new pension system, old pension is being demanded in many states. At the same time, many states have implemented the old pension scheme (OPS) by canceling the new pension scheme. Meanwhile, the central government can take a big decision regarding OPS. Let us tell you that in view of the demands of the whole country, the Modi government may consider giving many concessions in the new pension system. The Central Government is considering reforming the pension system.
OPS implemented in many states
Let us tell you that in many states including Rajasthan, Chhattisgarh, Jharkhand, Punjab and Himachal Pradesh, the old pension scheme has already been implemented by closing the new pension system.
Changes in the pension system
Government employees believe that without putting any burden on the exchequer, the government should make changes in the existing pension system, so that the employees do not have to face any kind of loss. Along with this, there should be no loss of pension to them. At present, under the new pension scheme, a person is allowed to withdraw 60 percent of the amount deposited during the working years at the time of retirement, which is completely tax free. The remaining 40 percent is invested in annuity.
What is the problem with the new pension scheme?
Officials believe that the government should make changes in NPS in such a way that at the time of retirement, the employees will get back the big money i.e. about 41.7 per cent contribution as a lump sum. The official said that this model is just the opposite of OPS and that is its only problem.
You get more pension in OPS
Let us tell you that there is a huge difference between the new and old pension scheme, due to which the employees and pensioners are demanding to restore the old pension scheme. At the time of retirement in OPS, employees get half the amount of salary as pension. At the same time, in the new pension scheme, 10 percent of the employee’s basic salary + DA is deducted.
The special thing about the old pension scheme is that no money is deducted from the salary of the employees. Apart from this, there is no provision for DA to be received after 6 months in the new pension. Apart from this, payment in old pension is made through the treasury of the government. At the same time, there is no guarantee of fixed pension in the new pension.
There is a big difference in the pension amount of both
Talking about the old pension scheme, even after the death of the retired employee, his family members get pension. For example, let us tell you that if an employee is getting a salary of Rs 80,000 now, then after retirement, according to the old pension scheme, he will get a pension of about Rs 35 to 40 thousand. Apart from this, in the new pension, this employee will get a pension of about 800 to 1000 rupees.
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