There is an atmosphere of happiness among the employees after Rajasthan Chief Minister Ashok Gehlot implemented the Old Pension Scheme in the finance budget in Rajasthan. All the employees who have been appointed after 2004 in Rajasthan will be given benefits under the Old Pension Scheme.
Jaipur: There is an atmosphere of happiness among the employees of Rajasthan Chief Minister Ashok Gehlot on the implementation of Old Pension Scheme in the finance budget in Rajasthan. All the employees who have been appointed after 2004 in Rajasthan will be given benefits under the Old Pension Scheme.
The New Pension Scheme (NPS) was implemented in 2004.
Let us tell you that on April 1, 2004, the government of the then Atal Bihari Vajpayee had implemented the new pension scheme in other government services except Defense Services. Employees who joined government service after April 1, 2004, are being given the benefit of the new pension scheme. The government had not made it mandatory for the states, but gradually most of the states had implemented the new pension scheme in their own right.
Know what is the difference between old and new pension scheme
In the old pension scheme (OPS), there was no deduction from the salary of the employee. At the same time, in the new pension scheme, 10 percent is deducted from the salary of the employee. Along with this, 14 percent share is shared by the government. In the old pension scheme, pension was paid to the retired employees from the government fund. At the same time, the new pension scheme is stock market based and its payment depends on the market. GPF (General Provident Fund) was available in the old pension scheme, but there is no GPF facility in the new scheme. In the old pension scheme, about half the amount of salary at the time of retirement was received as pension. Whereas there is no guarantee of fixed pension in the new pension scheme.
How much will be the benefit
After getting the full amount after retirement, the employees coming under the pension scheme get about 50 percent of the basic salary as pension. At the same time, the benefit of increment, which is applicable every year on the state employees, is also available. At the same time, while in the job, there is no deduction from the employee’s account towards pension.
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