Old Pension Scheme: Many organizations of government employees across the country are raising the demand to restore the old pension scheme. They are demanding to give benefits to the employees under the old pension scheme instead of the new pension scheme.
Why the old pension scheme debate started again. Where did the debate about the old pension scheme start again? What is the old pension scheme and in which states it has been implemented, know here:
New Delhi: Old Pension Scheme: Many government employees’ organizations across the country are raising the demand to restore the old pension scheme. They are demanding to give benefits to the employees under the old pension scheme instead of the new pension scheme. Why the old pension scheme debate started again. Where did the debate about the old pension scheme start again? What is the old pension scheme and in which states it has been implemented, know here:
What is Old Pension Scheme?
Old Pension Scheme or Old Pension Scheme was the pension given by the government to the employees before 2004. At the time of retirement, the employee was given pension on the basis of his salary. On the death of the employee, his family used to get the benefit of pension. The old pension scheme was discontinued from 1 April 2004. A new pension scheme was brought in its place.
What were the benefits available under the old pension scheme?
In the old pension scheme, at the time of retirement, the employee was given half the amount of his last salary as pension. In this, the amount of pension was decided according to the last basic salary of the employee and inflation figures.
What were the benefits of the old pension scheme?
In the old pension scheme, money was not deducted from the salary of the employee. The amount of pension was borne by the government. At the same time, the employee also used to get gratuity of up to Rs 20 lakh. Under the old pension scheme, there was also a provision to give dearness allowance every six months.
What is the difference between Old Pension Scheme and New Pension Scheme?
In the new pension scheme, 10 percent is deducted from the salary of the employees. The facility of General Provident Fund (GPF) was available in the old pension scheme, but it is not there in the new pension scheme. The amount that will be received as pension in the new pension scheme is not guaranteed. The new pension scheme is based on the stock market, whereas there was nothing like this in the old pension scheme.
Why has the old pension scheme debate started again?
The demand for implementing the old pension scheme kept rising among the employees, but the Ashok Gehlot-led government in Rajasthan fueled the debate by implementing it. Rajasthan became the first state to restore old pension.
In which states the old pension has been implemented?
Apart from Rajasthan, Chhattisgarh, Jharkhand, Punjab and Himachal Pradesh are the other states to restore the old pension scheme. Four of these are states ruled by the Congress or a Congress alliance, while Punjab is ruled by the Aam Aadmi Party.
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