Old Pension Scheme

8th Central Pay Commission: National Council JCM meet suggests on restoration of old pension scheme, revision of pensions

The standing committee of the national council – JCM has invited suggestions from all constituent organizations to submit their views for preparation of the memorandum, which is then submitted to the 8th CPC.

No proposal under consideration for restoration of Old Pension Scheme: FM Sitharaman 

In a reply in the Lok Sabha, Sitharaman said that the government had moved away from OPS due to its unsustainable fiscal liability on the government exchequer.

Pitiable: Supreme Court on meagre pension of retired high court judges

The apex court asked the authorities to have a "humane approach" instead of adopting a "legal approach".

Which Opposition-ruled states reverted to Old Pension Scheme and when? Full list here

The Modi government on Saturday announced the rollout of the Unified Pension Scheme providing government employees the benefit of an assured pension post retirement.

'Almost OPS': Modi govt 'UPS' the ante in pension debate, gives big bonanza to its employees

The Unified Pension Scheme brings back an assured pension equal to 50% of basic pay plus a dearness relief that will be linked to the inflation index. Further, every central government employee who retired since 2004 will get the UPS benefit with retrospective effect, with arrears being paid to them

Guaranteed pension model will hurt states more than the Centre

A larger proportion of their revenue goes into servicing pensions

Centre may guarantee 50% of last pay as pension under NPS: Report

Officials contend that employees who remain invested for 25-30 years are currently experiencing satisfactory returns comparable to OPS pensioners.

Budget 2024: Spending on pension declined in FY24, likely to fall further

The current pension bill at 5.3 percent starkly contrasts with 2.1 percent of the budget spent on pensions in 1990-91 and 4 percent at the turn of the 21st century.

Why are govt employees threatening to go on strike over restoration of old pension scheme?

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.

Railway unions threaten to stop all trains from May 1 if old pension scheme not implemented

The government is completely non-committal to our demand for the restoration of Defined Guarantied Old Pension Scheme' in place of New Pension Scheme'. Now, there is no alternative left but to resort to direct action, Shiv Gopal Mishra, Convener of JFROPS, said.

Congress’s loss in 3 states confirms Old Pension Scheme was never a vote catcher

The Congress party lost in Rajasthan, Chhattisgarh and Madhya Pradesh, states where it had rolled out or promised a return to the Old Pension Scheme. However, it clinched victory in Telangana without the OPS guarantee.

Centre likely to amend National Pension Scheme by year-end to enhance retirement payouts

Under the National Pension Scheme (NPS), retirees have the option to withdraw 60 percent of the accumulated corpus tax-free at the time of retirement, utilising the remaining 40 percent to purchase an annuity.

Congress backs protest by govt employees seeking restoration of old pension scheme

"These OPS protests show the anger of our steel frame, the government officers, against the ruling regime," AICC general secretary, organisation, K C Venugopal said.

Sikkim govt will bring back old pension scheme for its employees: CM

He said the government has received the report of the committee that it set up last year to study the viability of the OPS in Sikkim.

Railways must not allow demand for the old pension scheme to gather steam

The risk of not countering the growing chorus for the OPS is huge. For 2022-23, the Railways pension fund bill was Rs 60,000 crore