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After Rajasthan, CM of Jharkhand too gives positive assurance of abolishing NPS
Feb. 24: Just a day before on 23 February, Rajasthan Chief Minister Ashok Gehlot announced that abolishing the National Pension Scheme (NPS), all Rajasthan Govt employees appointed on or after 1st January, 2004 will be entitled to pension scheme like earlier (older version of the scheme) from next year onwards. This was indeed a matter of great jubilation for the state govt employees of Rajasthan. Within 24 hours, Chief Minister of Jharkhand gave almost a similar assurance to the state govt employees.
Infact, a delegation of the Government Employees Union met Hemant Soren, Chief Minister of Jharkhand at his residence in Ranchi. The delegation reiterated its long standing demand of abolishing National Pension Scheme (NPS) and restoration of Old Pension Scheme (OPS). The Chief Minister had a detailed discussion with the representatives of the Govt Employees Union on this matter and gave them positive assurance of abolishing the NPS.
Later on, taking to his twitter handle wrote, “Today, the representatives of the Government Employees Union met me at the residence. In our manifesto in 2019, we had announced that we would restore the oldpension scheme for all state government employees who have joined service after 2004. Our government is committed to this promise which we made.”
आज आवास में सरकारी कर्मचारी संघ के प्रतिनिधियों से मुलाकात हुई। अपने निश्चय पत्र 2019 में हमने घोषणा की थी कि वर्ष 2004 के बाद सरकारी सेवा में नियुक्त होने वाले पदाधिकारियों और कर्मचारियों के लिए पुरानी पेंशन योजना बहाल करेंगे।
हमारी सरकार अपने वायदे पर कायम हैं। pic.twitter.com/sSLn8Qd7M7— Hemant Soren (@HemantSorenJMM) February 24, 2022
The Central Government had introduced the National Pension System (NPS) with effect from January 1, 2004 (except for armed forces). Since its introduction, employees of all government sectors have been protesting to scrap the national pension scheme and restoration of the old pension scheme. As per the NPS regime they can withdraw 60% of their pension contribution in bulk and out of the remaining 40% they get barely ₹700 and ₹800 every month as annuity after remitting 10% of their salary for 15 years! So the paltriness of the NPS scheme is gradually dawning upon them and so the anger mounts.
Why the employees are opposing the New Pension Scheme?
Under the old pension scheme, the employees would get assured interest from the government for their accumulating pension fund. But under the NPS, the workers’ savings would be invested in the stock market and their pension amount would be decided by accruals from the share market. Private pension funds would invest their money and make a profit for themselves.
