Punjab cabinet gives in-principle nod to old pension plan | India News

CHANDIGARH: In a move that is likely to benefit the approximately 1.6 lakh Punjab government employees who entered service after 2004, the state cabinet on Friday decided on the reinstatement principle. old pension (OPS).
The term it a Diwali gifts for government employees, heads Bhagwant Mann said in a video message: “I am delivering good news. The Cabinet has made a decision in principle. Details will be announced soon. It will benefit tens of thousands of employees who are uncertain about their pensions under the new scheme. We will bring Punjab into OPS. Arvind Kejriwal ji asked us to make only promises we could deliver. ”
After the cabinet meeting, an official spokesman said staff would have the choice between the two options.
Last month, the CM said that the state government was considering reverting to the old system and had asked the secretary general to study the feasibility and implementation methods.
The decision to scrap OPS came as the Parliamentary government led by Captain Amarinder Singh tried to get out of a pile of debt. However, government employees agitated to bring OPS back.
Speaking at a press conference after the meeting, Cabinet Minister Aman Arora called it a “historic decision”.
Punjab will be the fourth state to restore OPS. Chhattisgarh was the first to do so, followed by Jharkhand and Rajasthan. In the old pension system, the pension was equal to 50% of the employee’s final salary and the entire amount was paid by the government. In the case of NPSA government-run investment program, registrants provide the option to set preferred allocations to different asset classes.
“Due to the concern of tens of thousands of employees, the cabinet has decided to reinstate the old system in the state and its implementation will likely bring great relief to state employees,” the developer said. language added.
Welcoming the decision, Sukhchain Singh Khaira, Punjab UT Pension and Employee Common Front convenor, said that the pending 4% DA of employees should also be announced soon. “As for the pension scheme, the details are yet to be released, but we expect that it will follow the 1972 Rules,” he said.
BOX: Punjab donates 6% SKIN from October 1st
The Cabinet also decided to provide a 6% Kindness Allowance (DA) to government employees and pensioners effective October 1, 2022. This decision will benefit tens of thousands of employees and people. receive a pension.


News7F: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button