Maharashtra Assembly: CM announces implementation of revised NPS for govt staffers

Maharashtra Assembly: CM announces implementation of revised NPS for govt staffers

Maharashtra Chief Minister Eknath Shinde on Friday announced implementation of a revised National Pension Scheme (NPS) for state government employees who joined service from November 1, 2005 onwards. Making a statement in both Houses of the Legislature, Shinde said, as per the decision, if employees opt for the revised pension scheme, they will get 50 per cent of their last salary as pension and dearness allowance, and 60 per cent of this amount as family pension and dearness allowance.

The NPS is being implemented in the state from April 1, 2015. There are 13.45 lakh employees in the state and NPS is applicable to 8.27 lakh of them. The state government had set up a committee in March 2023 to make a comparative study of the old pension scheme and the NPS. The committee looked into means of providing sustainable financial relief for employees who joined service on and after November 1, 2005.