Pension Scheme: Big update on NPS! Government responded on extending the deadline of Old Pension Scheme

National Pension System: The government on Wednesday informed the Lok Sabha that there is no proposal to extend the deadline for central government employees to accept the old pension scheme in place of the National Pension System (NPS).

National Pension System: The government on Wednesday informed the Lok Sabha that there is no proposal to extend the deadline for central government employees to accept the old pension scheme in place of the National Pension System (NPS). NPS was introduced in 2003 for central government employees.

When was NPS implemented?

In a written reply to a question, Minister of State for Personnel Jitendra Singh said that NPS is mandatory for all new recruits in the Central Government service (except armed forces) from January 1, 2004.

Said this about the old pension scheme

He said that in pursuance of the court’s decisions, the Department of Pension and Pensioners’ Welfare had issued instructions on March 3, 2023, giving a single option to join under the Central Civil Services (Pension) Rules, 1972 (now 2021) to those civilian employees of the Central Government who were appointed to the post or vacancy notified for recruitment/appointment before the notification of NPS on December 22, 2003. 

The minister said that there is no proposal to issue any further instructions regarding the order issued on March 3, 2023.

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