If returns are below 11.5 percent, burden may increase on the government
Prime Minister Narendra Modi expressed pride in the scheme, highlighting its alignment with the government’s commitment to the well-being of its employees.
Several unions of railway employees and workers have threatened to stop all train services across India from May 1 if their demand to implement the OPS is not met.
Further, another order issued in 2000 by the ministry said, that "it was emphasised that the government servants should not be allowed to accept awards of monetary benefits instituted by private trusts/foundations, etc."
Life has come to a standstill in parts of India due to the 24-hour nationwide strike by trade unions and government employees on Tuesday. In all, 11 trade unions across party lines along with 8 lakh public sector employees with the exception of those in the Railways are participating.
The government today said there is no proposal to raise the retirement age of its employees from 60 years at present.