Old pension scheme news

• Home • Karnataka Election 2023 • Budget 2023 • Market • Stock Stats • Top Gainers • Top Losers • Indices • Nifty 50 • Sensex • CaFE Invest • Commodities • IPO NEWS • Investing Abroad • IPOs • Economy • Tech • Auto • SME • Mobility • Industry • Banking & Finance • Education • Money • Insurance • Income Tax • Mutual Funds • Blockchain • Infrastructure • Railways • Aviation • Roadways • India • Defence • Lifestyle • Travel & Tourism • Health • Science • Healthcare • Brand Wagon • Entertainment • Events • Jobs • Sports • IPL 2023 • Multimedia • Photos • Videos • Audio • Web Stories • Auto Web Stories • Infographics • ePaper • Today’s Paper • From The Print • International • Edits & Columns • Opinion • FE 360 • Politics • Economy • Personal Finance Print • Front Page • FE Insight • Fe@Campus • archive There is an option under Central Civil Services (Implementation of National Pension System ) Rules, 2021 to avail benefits under Old Pension Scheme (OPS) on the death of the Government servant covered under NPS during service. This option is also available in case of his/her discharge from service on account of invalidation or disablement. The Department of Pension and Pensioners’ Welfare (DoPPW) today (October 26) said in an Office Memorandum (OM) that Central Civil Services (Implementation of National Pension System) Rules, 2021 have been notified to govern service-related matters of Central Government civil employees covered under National Pension System. “Rule 10 of these ru...

Premium UPSC Essentials | Issue at a glance: The OPS versus NPS debate The issue of the old pension scheme (OPS) versus the new pension scheme (NPS) has dominated news since a long time now. From basics to advance, let's go through all you need to know . Beyond the issue know why there is need to reform India's pension system Old pension scheme (OPS) versus new pension scheme (NPS) is a hot debate these days. Economic, social and political dimensions of the debate demands to have a good understanding of the basics and advance of the issue. We go Beyond the issue to learn: Why there is need to reform India’s pension system? Relevance: Essential for Prelims, Mains and Interview. The debate finds its place in the syllabus of GS II (Welfare schemes for vulnerable sections of the population by centre and states) and GS III. Aspirants must have ready to use facts and points on this issue to substantiate their arguments in mains or personality test. Why in news? — The issue of the old pension scheme (OPS) versus the new pension scheme (NPS) has dominated news since a long time now. Some state governments recently announced their plan to implement the old pension scheme (OPS) by replacing the National Pension Scheme (NPS). MoS Finance in LS said, “The state governments of Rajasthan, Chhattisgarh, and Jharkhand have informed the Central government/PFRDA about their decision to restart old pension scheme (OPS) for their state government employees.” What is pension and why is it requ...

The Union Finance Ministry’s reiteration in the Rajya Sabha recently, of the legal position, i.e., the absence of any provision to allow the accumulated corpus of members of the However, the issue refuses to die down, as government employees or those in government-controlled enterprises have been fighting for it. Be it Maharashtra, Uttar Pradesh or Karnataka, staff have struck work, demanding, among others, the re-introduction of the OPS. But their concern about the uncertainty over the amount of pension under the NPS is genuine as they are justified in aspiring for a quality retired life. The NPS, despite being PFRDA regulated, is a market-linked and defined contribution product, while the OPS is a defined benefit pension scheme, where beneficiaries generally get 50% of their final salary, and the whole cost is borne by the government. So, the flat rejection of the demand for the OPS would only exacerbate the situation. It is time that the Centre formulated a scheme that combines features of the old and the new. While retaining the element of employees’ contribution, the scheme can have higher contributions by the government, which should also step in if the returns do not ensure the prescribed minimum pension amount. A proposal by Andhra Pradesh last year deserves attention. Holding on to the contributory character of the NPS, the proposal guarantees 33% of basic pay. If required, it can be improved upon to suit the requirements of other States too. Better health facilit...

Home Articles National Discussion to be held regarding implementation of old pension scheme: Karnataka CM Siddaramaiah Karnataka Chief Minister Siddaramaiah assured that discussion will be held regarding the implementation of the old pension scheme in the cabinet and a decision will be taken to announce it in the budget. Bengaluru (Karnataka) [India], June 14 (ANI): Karnataka Chief Minister Siddaramaiah assured that discussion will be held regarding the implementation of the old pension scheme in the cabinet and a decision will be taken to announce it in the budget. He was speaking to the delegation of office bearers of the NPS employees’ union that met him and appealed to him regarding the cancellation of the New Pension Scheme. The CM said that the employees should work efficiently to implement the guarantee schemes of the government, and said that they should sincerely work to reach the benefits of the government programs to the people. Former MLC VS Ugrappa who spoke on the occasion informed that about 2.98 lakh employees are covered under NPS. The pension amount is deposited in National Securities Depository Limited (NSDL). This amount can be deposited in General Provident Fund (GPF) which can be made available at the time of retirement. He explained that the government should decide to drop the disciplinary action taken against those who took part in the ‘Vote for OPS’ campaign. “NPS has been cancelled in Rajasthan and Chhattisgarh, it should also be cancelled in Kar...

Old Pension Scheme Karnataka to discuss old pension scheme at next Cabinet meeting try to implement on this date | Old Pension: इस द‍िन से लागू हो जाएगी पुरानी पेंशन! कर्मचार‍ियों के ल‍िए सरकार ने क‍िया बड़ा ऐलान | Hindi News, निवेश Old Pension: इस द‍िन से लागू हो जाएगी पुरानी पेंशन! कर्मचार‍ियों के ल‍िए सरकार ने क‍िया बड़ा ऐलान Old Pension New Update: कांग्रेस की सरकार वाले कई राज्‍यों में पुरानी पेंशन को बहाल कर द‍िया गया है. इसके बाद केंद्रीय कर्मचारी और कई राज्‍य सरकार कर्मचार‍ियों की तरफ से पुरानी पेंशन योजना (OPS) को फ‍िर से बहाल करने की मांग की जा रही है. प‍िछले द‍िनों कर्नाटक के कर्मचार‍ियों ने भी ओपीएस (OPS) को लेकर अपनी मांग तेज की थी. अब यहां इसको लेकर बड़ा अपडेट सामने आया है. कर्नाटक के सीएम सिद्धारमैया ने कहा कि नई कांग्रेस सरकार कैबिनेट की अगली बैठक में पुरानी पेंशन योजना (OPS) की बहाली पर चर्चा करेगी. राज्य सरकार कर्मचारी संघों के एक प्रतिनिधिमंडल के साथ बैठक के बाद बोलते हुए, सीएम ने घोषणा की कि कैबिनेट 7 जुलाई को शासन के पहले बजट में पुरानी पेंशन की घोषणा करने पर विचार करेगी. कर्नाटक राज्य एनपीएस कर्मचारी संघ के अध्यक्ष शांताराम तेजा ने कहा कि नई पेंशन योजना (NPS) को रद्द करके योजना के तहत उपलब्ध 19,000 करोड़ रुपये का इस्तेमाल सरकारी विकास कार्यों के ल‍िए किया जा सकता है. र‍िटायरमेंट के बाद होता है यह फायदा पुरानी पेंशन के तहत सरकारी कर्मचारियों को र‍िटायरमेंट के बाद हर साल दो बार टेक होम सैलरी का आधा हिस्सा और महंगाई भत्ता मिलेगा. जब वे काम कर रहे थे तो उनके वेतन से क‍िसी प्रकार की कटौती नहीं की गई. हालांकि, एनपीएस के तहत, कर्मचारी अपने वेतन का 10% योगदान...