There is a good news regarding the old pension. The whole country is waiting for this, but at present the change is happening only in one state. In fact, Himachal Pradesh Chief Minister Sukhwinder Singh Sukhu said on Tuesday that the state government has made necessary budgetary provisions before announcing the restoration of the old pension scheme. He said in a statement that the Himachal cabinet during its first meeting after deliberations had approved the revival of the scheme. The Congress will fulfill all other promises made in its ‘Promise Patra’ before the assembly elections in a phased manner after making adequate financial provisions. The Chief Minister criticized the previous BJP administration for allegedly failing to clear the dues of the employees while promising to implement the recommendations of the Pay Commission. He said that the hasty steps taken by the BJP government are unwanted and unnecessary. Sukhu said that the BJP government has handed over the empty treasury to the present government.
RBI has given warning
Recently, the Reserve Bank of India (RBI) had warned about the implementation of the old pension system in some states that it poses a big risk to the fiscal scenario at the state level and in the coming years such liability will increase for them, for which Money is not arranged. The RBI in its report titled ‘State Finances: A Study of the Budget for 2022-23’ said this at a time when Himachal Pradesh recently announced the re-implementation of the old dearness allowance linked pension scheme (OPS). Earlier, Rajasthan, Chhattisgarh and Jharkhand had informed the central government and the Pension Fund Regulatory and Development Authority (PFRDA) about their decision to restore OPS.
Punjab government is also putting emphasis
The Punjab government had also issued a notification on November 18, 2022, regarding the implementation of OPS for state government employees. These employees are currently connected to the New Pension System (NPS). The New Pension System (NPS) implemented from January 1, 2004 is a contribution based pension scheme. In this, along with the employee, the government also contributes. On the other hand, in the old pension system, the pension of the employees is 50 percent of the last salary taken before retirement and this entire amount was given by the government.
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