Old Pension Scheme: The facility of General Provident Fund is available in the Old Pension Scheme. In this, no deduction is made from the salary for pension.
Old Pension Scheme: There is good news for government employees living in states like Rajasthan, Chhattisgarh. The government has implemented the Old Pension Scheme in the states of Rajasthan, Chhattisgarh, Punjab, Tamil Nadu and Jharkhand. Along with this, there are many states including Punjab, Tamil Nadu, Jharkhand, which are preparing to implement the Old Pension Scheme. If you are also planning to take the scheme, then this is a good opportunity for you. Let us know about the benefits associated with the scheme.
Let us tell you that from January 1, 2004, the Central Government closed the old pension scheme and implemented NPS for all its new employees. Within a year of this, almost all the big states had also implemented it at their level. Till 28 February 2022, more than 50 lakh employees of state governments were under NPS, while more than 22 lakh central employees are its beneficiaries. Many employees’ unions were pressurizing different state governments to implement old pension for a long time, but implementing old pension will also increase the challenges of the states.
Which facilities can be availed
The facility of General Provident Fund is available in the Old Pension Scheme. In this, no deduction is made from the salary for pension. Also, fixed pension is given after retirement, that is, 50% of the last salary is received as pension. Where the entire pension money is received from the government.
Apart from this, while taking this scheme, if the government employee dies while doing the job, then his family will get this pension.
Old-new pension scheme
Old Pension Plan                              New Pension Plan
– No Salary Deduction                            10% Salary Deduction
– Government gives pension                        Pension stock market based
– GPF Facility                                   No GPF Facility
– Half of last salary Pension                        No guarantee of fixed pension
Pension burden on governments
– In Rajasthan 30% of the tax income spent on pension
– 20% expenditure will be added as soon as the old scheme is restored
– 46% of the total tax earning in Kerala is spent on pension
