Old Pension Scheme: Great news for employees! NPS over, orders issued to implement old pension

Old Pension Scheme: There is big news for government employees. The government has abolished the new pension scheme and implemented the old pension scheme. The Finance Department has also issued an order for this. 

Old Pension Scheme: There is great news for government employees. The government has ordered to implement the Old Pension Scheme (OPS). For this, the Rajasthan Civil Services Contributory Pension Rule 2005 has been implemented i.e. New Pension Scheme (NPS) and it has been abolished. The Finance Department has issued orders to change the rules for implementing the Old Pension Scheme.

Government took decision after

The Rajasthan government has now legally implemented the provision of giving 50 percent of the salary as pension to the employees on retirement. Under this, a notification has been issued to change the rules of the government.

Significantly, Chief Minister Ashok Gehlot had announced to restore the old pension, after which the deduction from the salary of employees for NPS was stopped from April 1. Fifth note of musical scale

Under this decision, the employees who came in government service on and after January 1, 2004, have been made eligible to take old pension on retirement. Under this, the employees who have exited from their service before March 31, 2022, will also be given the benefits of pension according to this rule from April this year.

government employees will benefit

It is worth noting that after April 1, 2004, the employees who joined the government service in the state were taken under the new pension scheme. Now the Rajasthan government has stopped 10 percent deduction of basic every month from the salary of employees in the new pension scheme from April 1. It is worth noting that under the New Pension Scheme, about 39000 crores of money deducted from the salary of employees and officers is deposited in PFRDA.

Now after this announcement, the state government will ask for the money deposited in the central government agency PFRDA by making provision for the old pension in the rules. A letter will be sent to PFRDA with the order and notification for restoration of old pension. Actually, now after this announcement, the basis of pre-mature exit has become with the state government.