After restarting the old pension scheme of many state governments, now the central government has also taken an important step in this direction. The central government will give a single time option to some of its selected employees to switch from the new pension system to the old pension system. Read this news…
There is a situation of tension between many state governments and the central government on the issue of Old Pension Scheme . But now in this direction the central government has brought a golden opportunity for its selected employees. These employees are going to get a single time option to switch from New Pension System to Old Pension Scheme (Switch NPS to OPS) .
Recently Congress ruled states like Rajasthan, Chhattisgarh and Himachal Pradesh have re-implemented the old pension scheme. At the same time, in this regard, there has been a tussle between the state governments and the central government for demanding the money deposited in NPS from the central government.
These people will get a chance to switch
The Department of Pension and Pensioners’ Welfare (DoPPW) issued an official communication on Friday. In this, the eligibility of potential people switching to the old pension scheme has been talked about.
It has been said in the memorandum of DoPPW that if a civil servant has been appointed in the Central Government on the basis of vacancy or advertisement that came before the date of notification of the new pension system i.e. 22 December 2003 , then he will be given the old pension system only once. (CCS Pension Rules 1972) will get an opportunity to choose. However, for this, his joining should have happened on or after 1 April 2004 and should come under the purview of the National Pension System.
Last date for option selection
Any eligible Central Government employees who want to switch from new to old pension system. He has been given time till 31 August 2023 to decide. It has also been said that this will be their last chance to opt for the old pension system.
The Department of Pension and Pensioners’ Welfare says that those who do not choose their option till August 31, will be allowed to remain within the purview of the new pension system. That means they will continue to get the benefit of NPS only.
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