Old Pension Scheme: Thousands of employees from the Centre, states and Union Territories (UTs) gathered at Jantar Mantar in the national capital for a massive rally on November 17, demanding the restoration of the Old Pension Scheme (OPS) and the abolition of the National Pension System (NPS).
There are around 60 lakh government employees covered under the NPS. The Centre brought in NPS in 2004, replacing the OPS which guaranteed a pension equivalent to 50% of the last-drawn salary of an employee. All central government departments and autonomous bodies governed by the Centre were brought under the NPS. Only armed forces were kept out of the NPS purview.
Coming back to the recent agitation at Jantar Mantar in Delhi, the All India NPS Employees Federation (AINPSEF) led the protest in which government employees voiced discontent with the NPS and demanded the OPS restoration. AINPSEF has more than 5 lakh members.
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This agitation has taken place despite the government recently announcing the Unified Pension Scheme (UPS), to be implemented from April 1, 2025. The OPS, like the NPS, is a contributory pension scheme, but it guarantees a pension equivalent to 50% of the last drawn salary, similar to the provisions of the old pension scheme.
UPS Vs NPS
Despite the UPS announcement, the NPS will remain in place as the government has given employees the option to choose between the two.
So as the demand for OPS intensifies, questions arise about whether the government will reverse its decision and restore the old pension system for its employees.
After many employee unions expressed dissatisfaction over UPS announcement, the government ruled out its roll back.
At the rally, prominent employee union leaders unanimously urged Prime Minister Narendra Modi to look into their demand.
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