Old Pension Scheme for Government employee: CM Siddaramaiah given good news

Recently the employees have been continuously protesting demanding the re-implementation of the old pension scheme. There are many discussions going on across the country regarding the old pension scheme. Old Pension Scheme for Government employee: CM Siddaramaiah given good news.

Central government employees and many state government employees are demanding re-implementation of the old pension scheme. Many protests are going on for this. Many state governments have implemented old pension schemes.

Now it is reported that the old pension scheme will be re-implemented in Sikkim. Sikkim Chief Minister BS Tamang Kole announced this good news on Monday. Based on the report submitted by the expert committee, the government has decided to re-implement the old pension scheme in the state of Sikkim.

In December last year, the Sikkim government had constituted a committee to examine the possibility of revising the old pension scheme for state government employees. The Committee was chaired by Sikkim Personnel Department Secretary Rinsing Chewang Bhutia.

Old pension scheme in Karnataka? :

Protests are also going on in Karnataka for the old pension scheme. The state government employees are constantly demanding implementation of the old pension scheme in the state. The Congress government had said in its manifesto that if it comes to power, it will implement the old pension scheme. Various organizations have been holding various protests for the past few days.

Although the old pension scheme is implemented in various states, why the state government is not implementing this scheme is the question of the state government employees.

National Pension Scheme V/S New Pension Scheme

National Pension Scheme (NPS)

1.In NPS, 10 percent is deducted from the employee’s basic pay and allowances.

2. The National Pension Scheme is stock market oriented. Hence it is considered relatively less safe.

3. Under this, 40% should be invested in NPS fund to get pension after retirement.

4. This scheme does not guarantee a fixed pension after retirement.

5. In the new pension scheme, gratuity will not be paid every six months.

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Old Pension Scheme (OPS):

1. Under this, 50 percent of last drawn salary is paid as monthly pension along with lump sum after retirement.

2. There is also a provision to increase pension after 80 years. GPF is also available.

3. Under this, gratuity up to 20 lakh rupees is given.

4. It is paid from the state exchequer. Money is not deducted from the employee’s salary.

5. Pension is provided to the wife after the death of the retired employee. Under this DA is also given every six months. Thus, the pension amount will continue to increase.