[OPS] old Pension scheme
[OPS] old Pension scheme Update Check : good news for central employees
Old Pension scheme Update Check: there is excellent news for Central government employees throughout the festal season. in the coming back days they’ll get the benefit of the recent pension theme once more. If sources are to be believed, the Modi government may think regarding this before the year 2024. A consultation has been sought-after from the Ministry to meet the long-standing demand of workers.
Old Pension scheme
[OPS] old Pension scheme An opinion was sought from the Union Ministry of Law concerning the recent pension scheme. It asked, within which department recent Pension theme (OPS) may be enforced. However, no concrete response has been received from the ministry yet. At identical time, within the last session of Parliament, Minister of State for Finance Bhagwat Karade denied that the govt was considering implementing the recent pension scheme.
Highlight point Of old Pension Scheme-OPS
Article Name – old Pension scheme Update Check
When was the new pension scheme enforced – 2004
Which workers can benefit from ops – whose recruitment promotion was issued on or before january 01, 2004
when old Pension scheme may be applied
If sources square measure to be believed, the central government has not nonetheless given any concrete answer concerning the recent pension scheme. [OPS] old Pension scheme however the manner the opposition has been assaultive this issue within the elections, the result may be seen within the coming days. it’s for this reason that the Central Government could contemplate providing recent Pension theme (OPS) to Government workers whose recruitment promotion was issued on or before 31 December 2003.
Minister of State for North eastern Region Development Ministry, Prime Minister’s workplace, Department of atomic energy and Minister of State for house Department Dr. in keeping with Jitendra Singh, the difficulty of recent pension is extremely huge. AN opinion was sought-after from the Law Ministry during this regard. a choice during this regard may be taken only once the reply of the Ministry.
Which employees can benefit from ops
After the choice of the Supreme Court, the central government placed the matter under the Ministry of Law. Department of economic Services, Department of Pensions and Pensioners’ Welfare (DoP&PW) could take applicable call concerning exclusion of such workers from the reach of NPS. Whose achievement promotion was issued on or before january 01, 2004 and can be eligible for this. underneath recent Pension scheme (OPS). If the matter is resolved, the pensioners will get a large profit.
Old Pension scheme 3 big advantages
The 3 major advantages of recent Pension scheme are as follows.
No-1 : In ops, pension was created on the idea of last drawn salary.
No-2 : With increase in rate in ops, prosecutor (Dearness Allowance) was conjointly increasing.
No-3 : once the govt implements a new Pay Commission, the pension will increase.
New Pension System implemented in 2004
The central government implemented a new pension theme in the year 2004. Under this, [OPS] old Pension scheme separate accounts were opened to fund the new pension theme and a fund manager was conjointly appointed for the investment of the fund.
If the investment returns of the pension fund are good, the new workers may also get a more robust quantity within the future at the time of retirement as compared to the recent theme of provident fund and pension. [OPS] old Pension scheme however employees say pension fund investment returns are going to be sensible, however is that this possible? that’s why they’re hard to please to implement recent Pension scheme underneath 7th Pay Commission.
Old Pension scheme Update Check: Less advantages in new pension scheme compared to recent pension theme
[OPS] old Pension scheme At the state level, agitation goes on regarding the recent Pension scheme. Government workers have began to unite on one platform to implement the recent pension scheme. the worker organizations of varied departments have conjointly ready a replacement strategy.
[OPS] old Pension scheme After 2010, the government has appointed workers underneath the New Pension theme. during this theme, the workers get terribly less advantages as compared to the recent scheme. This doesn’t secure their future. the govt can have to pay tax on the cash that may be received once retirement.