Old Pension Scheme Update: No contribution of any kind is made by the employees under OPS. But after Congress came to power in Telangana, the situation seems more complicated. Here, Congress has promised to implement OPS.
OPS In Telangana: The results of the Assembly elections, which are being considered as the semi-finals of the Lok Sabha elections, have come. BJP is going to form government in three states. Except Madhya Pradesh, BJP has returned to power in Rajasthan and Chhattisgarh. Rajasthan and Chhattisgarh have been in the news a lot regarding the implementation of the old pension scheme. Former Chief Minister of Rajasthan Ashok Gehlot was the first to implement the old pension in the state. Even in Chhattisgarh, former Chief Minister Bhupesh Baghel had won the hearts of government employees by implementing OPS. But now with the change of government, the question has started arising whether old pension or new pension in Rajasthan, Telangana and Chhattisgarh?
Employees do not pay any contribution under OPS
Now that Congress has lost power in Rajasthan and Chhattisgarh, the case for implementing National Pension System (NPS) in both the states seems to be getting stronger. But the catch here is that the government employees of both the states have opted for the Old Pension Scheme (OPS). Under OPS, no contribution of any kind is made by the employees. But after Congress came to power in Telangana, the situation seems more complicated. Here, Congress has promised to implement OPS. Under this scheme, the entire burden of pension is borne by the state government.
Assurance of giving 45 to 50 percent pension!
After the spectacular victory of BJP in the Assembly elections, it is also expected that the Center will try to address the concerns of such employees who had joined government jobs after 2004 and are under NPS. According to media reports, the Center is also trying to bring such a system for government employees which assures giving at least 45 to 50 percent of the final salary as pension. Recently, a committee was also formed by the government under this. It is expected that the committee formed regarding OPS will submit its report to the government before the general elections. Further decisions are expected to be taken on the basis of its report.
What is the best option?
Lok Sabha elections will be announced after three months. The hope is that the committee headed by Finance Secretary TV Somanathan will address the concerns without affecting the financial position of the Centre. Amidst the increase in pension bill of Rs 2.4 lakh crore in the budget, the government argues that the time has come when the burden should be reduced. According to media reports, the government is trying to find out what could be the best option in the system after talking to different stakeholders including employee leaders. The restoration of OPS has already been refused by the Central Government. Now it remains to be seen what action the government takes in the states where BJP has won.
