Tuesday, December 23, 2025
ADVT 
India

Punjab Cabinet approves implementation of old pension scheme

Darpan News Desk IANS, 18 Nov, 2022 02:07 PM
  • Punjab Cabinet approves implementation of old pension scheme

Chandigarh, Nov 18 (IANS) Eyeing Gujarat elections, the Bhagwant Mann-led AAP government on Friday approved the notification for implementing the old pension scheme (OPS) in Punjab, directly benefitting more than 1.75 lakh government employees.

A decision to this effect was taken in the meeting of the council of Ministers held under the leadership of the Chief Minister here.

Disclosing this here today, a spokesperson for the Chief Minister's Office said the government has approved the OPS for its employees currently covered under New Pension Scheme (NPS), fulfilling a long-pending demand of employees of the state.

This will directly benefit more than 1.75 lakh employees currently covered under NPS. In addition to this, 1.26 lakh employees are already covered under the existing OPS.

The scheme is aimed at safeguarding the future of government employees and recognising their contribution towards the state. In order to ensure that the scheme being introduced is financially sustainable for the exchequer in the future also, the government will be contributing proactively towards creation of a pension corpus which will service the pension in future to the beneficiaries of the scheme.

This contribution towards the pension corpus will be Rs 1,000 crore per annum initially and will gradually increase in future.

Besides, the current accumulated corpus with NPS is Rs 16,746 crore for which the state will request Pension Fund Regulatory and Development Authority of the government of India to refund this amount for effective utilisation at its end.

MORE India ARTICLES

Gambling den busted in Delhi hotel, 8 arrested

Gambling den busted in Delhi hotel, 8 arrested
The accused were identified as Mohit Sharma, Rishab Jaitley, Aman Gupta, Sachin Chhabra, Manav, Deepak Agarwal, Saurabh Chabbras and Sachin, all residents of Delhi.

Gambling den busted in Delhi hotel, 8 arrested

Who are the preferred leaders to become Chief Minister?

Who are the preferred leaders to become Chief Minister?
In Punjab, it has not been very long since Bhagwant Mann was projected as the chief ministerial candidate by the Aam Aadmi Party. The Congress announced Charanjit Singh Channi as the CM face just recently.

Who are the preferred leaders to become Chief Minister?

Indian-origin blood cancer survivor meets her blood stem cell donor

Indian-origin blood cancer survivor meets her blood stem cell donor
Suneel Narayan, a 34-year-old finance professional from Bengaluru had, in 2018, registered himself as a potential blood stem cell donor with non-profit organization DKMS BMST Foundation India, dedicated to the fight against blood cancer and blood disorders, such as Thalassemia and Aplastic anaemia.

Indian-origin blood cancer survivor meets her blood stem cell donor

US authorities charge 6 Indian call centres, directors in alleged scam

US authorities charge 6 Indian call centres, directors in alleged scam
The six companies and their directors were charged with conspiring with a company that provides telephone services over the internet, E Sampark, and its director, Guarav Gupta, "to forward tens of millions of scam calls to American consumers".

US authorities charge 6 Indian call centres, directors in alleged scam

12 held in Delhi for duping people on pretext of providing airline jobs

12 held in Delhi for duping people on pretext of providing airline jobs
Ten of the arrested persons have been identified as Neeraj Kumar, Amir, Sandhya, Neeta Rawat, Muskaan, Harpreet Kaur, Nisha, Jaya and Deepika Moni, all residents of Delhi, and Sonu, a resident of Haryana.

12 held in Delhi for duping people on pretext of providing airline jobs

BJP-led alliance promises to waive debt of Punjab farmers

BJP-led alliance promises to waive debt of Punjab farmers
Punjab BJP chief Ashwani Sharma said the alliance government will set up a special task force to probe the sacrilege incidents and fast-track courts to try such cases.

BJP-led alliance promises to waive debt of Punjab farmers