Government employees in Chattisgarh have reportedly expressed grievances pertaining to Old Pension Scheme that the state adopted in 2022. According to a report by India Today, several government employees have not received any benefit from the OPS scheme.
Citing a class 3 Employee Association union leader, who spent 40 years in a government job, said the Chhattisgarh government had forced staff to sign an affidavit to not go against the government if their hard-earned money gets lost in transit.
The India Today said that the share deposited by the government in the National Pension Scheme (NPS) account from November 1, 2004, to March 31, 2022, and the dividend received thereon will have to be deposited in the government’s account if the government employee opts for the old pension scheme.
However, the problem arose as the money deducted from the salary of the employees from 1 November 2004 was deposited in the NSDC company and was further invested in the stock market.
For the past 18 years, the hard-earned money has gone into other accounts, and compound method interest has also not been received. The central government has refused the state’s demand to refund the ₹17,000 crore plus deposited in the NPS.
Several non-BJP-ruled states have adopted Old Pension Scheme such as Rajasthan, Jharkhand, Chattisgarh, Himachal Pradesh, and Punjab.
The old pension scheme offered assured returns to pensioners without any contribution from the employees, which made it fiscally unsustainable for the government. Economists have also warned that OPS could hurt India’s attempts to improve government finances and reduce debt.
Source By: livemint
