Black Day: National Protest Day against NPS observed in Barak along with rest of the state

Feb. 1: All Assam Government National Pension Scheme (NPS) Employees’ Association has observed “Black Day” on Tuesday. At the call of the association, all state government employees extended wholehearted support to the National Protest Day against National Pension Scheme (NPS) and restoration of Old Pension Scheme (OPS). During the day, all employees protested by wearing black badge during office hours.

Responding to the call of “All Assam Govt. NPS Employees’ Association”, Assam College Teachers’ Association (ACTA) responded positively and  extended wholehearted support to this ‘legitimate struggle’. College teachers throughout the state wore black badges and took part in this protest movement.

Since its introduction, employees of all government sectors have been protesting to scrap the national pension scheme and restoration of the old pension scheme. It is with this aim of restoration of the Old Pension Scheme (OPS), that the Assam Government NPS Employees’ Union was established. Since the NPS covers employees recruited after 1 January 2004 and the age of retirement is 60, most employees are yet to avail the new pension. But a few are retiring now and 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. s such, reverting to the old pension scheme was voiced in a strong way today in Assam.

The OPS is a defined pension initiative of the Government of India while the NPS is a contributory pension scheme without any defined benefits. The NPS has been applicable for all central/ state government staff who had joined service on or after January 1, 2004. National Pension System (NPS) is a retirement benefit Scheme introduced by the Government of India to facilitate a regular income post retirement to all the subscribers. PFRDA (Pension Fund Regulatory and Development Authority) is the governing body for NPS.

Meanwhile, Government employees throughout the country have registered their protest against the newly introduced National Pension Scheme (NPS).