NPS to OPS: No Proposal to replace NPS with OPS

NPS to OPS: No Proposal to replace NPS with OPS

NATIONAL PENSION SYSTEM TO OLD PENSION SCHEME (NPS TO OPS)

There is no proposal to replace the NPS with old pension scheme in respect of Central Government employees recruited on or after 01.01.2004.

Minister of State for Finance Shri Anurag Singh Thakur said in the Parliament on 15th July, 2019 in a written form to a question regarding reintroduction of Old Pension Scheme as follows…

“Due to rising and unsustainable pension bill, the Government had made a conscious move to shift from the defined benefit, pay-as-you-go pension scheme to defined contribution pension scheme now called as National Pension System (NPS). The transition also helped in freeing the limited resources of the Government for more productive and socio-economic sectoral development”.

“There is no proposal to replace the NPS with old pension scheme in respect of Central Government employees recruited on or after 01.01.2004“.

More updates on NPS to OPS:

• Enhanced Govt Contribution from 10% to 14% under NPS – PFRDA Circular July 9, 2019
• NPS for CG Employees -Setting up of NPS oversight mechanism July 3, 2019
• Withdrawal of resignation by CG Employees covered under NPS – DoPT June 21, 2019
• NPS to OPS: Abolition of Contributory Pension Scheme – Cabinet agenda by the Govt of AP June 12, 2019
• Stoppage of Retirement and Death Gratuity to the NPS Subscribers May 28, 2019
• Major Changes in National Pension System (NPS): Choice of Pension Funds and Investment PatternMay 10, 2019
• Return of NPS Scheme (State Government Scheme) as on March 2019 May 7, 2019
• Return of NPS Scheme (Central Government Scheme)as on March 2019 May 7, 2019
• Voluntary Contribution in Tier I account by Govt. Sector Subscribers May 7, 2019
• Tax Benefit Under NPS May 7, 2019
• NPS Fund Value 2019 – Central & State Pension Fund NAV as on 6.5.2019 May 7, 2019
• NPS to OPS : Extension of Old Pension Scheme to the Employees Who Were selected During the Year 2003 April 24, 2019
• Total Existing Subscribers in NPS as on March 2019 April 23, 2019
• Transferring NPS Subscription into GPF account April 19, 2019
• Compensation for non-deposit or delayed deposit of contribution under NPS – Finmin Orders April 16, 2019
• GPF to be introduced to willing NPS employees – AIDEF Circular April 14, 2019
• Amendment in Investment Guidelines for NPS Schemes – PFRDA March 30, 2019
• NPS to OPS: Abolition of NPS and for Restoration of OPS March 25, 2019
• 14% Government Contribution in NPS – Gazette Notification March 16, 2019
• Recognised Political Parties Participating in 17th Lok Sabha General Election: Request to include demands in Election Manifestos March 15, 2019
• Scrap NPS – Restore OPS: NJCA Writes to All Political Parties March 14, 2019
• Proposal to Include in the Election Manifesto to All Parties – NC JCM Staff Side March 13, 2019
• Nationwide Protest by CG Employees Against NPS on 13.03.2019 March 6, 2019
• Guaranteed Pension to CG Employees Governed Under NPS – PFRDA February 15, 2019
• NPS Contribution 14% of Basic Pay plus DA – Gazette Notification February 5, 2019
• National Pension System – 42 Aspects to Know February 4, 2019
• National Pension System to Tripura Govt Employees January 28, 2019
• Withdrawal of Pension Facility in NPS January 3, 2019