Do you know when the decision will be?
In fact, the central government is churning out the old pension scheme (OPS) for workers. Government employees who have been advertised for employment on or before December 31, 2003 will get this benefit According to Dr Jitendra Singh, Minister of State for Labor, Public Works and Pensions and Minister of State in the Prime Minister’s Office, the decision will be taken after the response of the Law Ministry.
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Employees will get the benefit
Union Minister of State Dr Jitendra Singh said in Parliament, “After the Supreme Court decision, the Union Government placed the matter under the Ministry of Law. The Department of Financial Services, Department of Pensions and Pensioners Welfare (DoP & PW) may make appropriate decision to exclude from the NPS those employees for whose recruitment the advertisement was issued on or before 01 January, 2004 and who are eligible for the Old Pension Scheme. (NPS). If the issue is addressed, a big benefit can be seen in pension.
The question has been raised in Parliament
The Union Minister was asked in Parliament whether the Department of Pensions and Pensioners Welfare, following the decision of the Supreme Court, has asked the Financial Services Department (DFS) and the Law Ministry to remove those employees from the NPS and transfer them to the old pension scheme. Ideas have been sought for inclusion, whose recruitment advertisement was issued on or before 31 December 2003.
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Who will not get the benefit of old pension
Union Home Minister Nityananda Rai told Parliament that the Central Armed Police Force would not get the benefit of the Old Pension Scheme. He said that under the Central Civil Services Pension Rules, 1972, paramilitary employees were receiving pensions and other benefits.
The new pension scheme offers less benefits
Significantly, there is also a movement at the state level with the Old Pension Scheme. Government workers have started coming together on one platform to implement the old pension scheme. Since 2010, the government has hired employees under the new pension scheme. In this scheme, the employees get very few benefits as compared to the old scheme.
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