Punjab Cabinet approves implementation of old pension scheme
Darpan News Desk IANS, 18 Nov, 2022 02:07 PM
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.
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Its convenor and founder K.C. Singh, a former envoy to the United Arab Emirates, and Iran, said the manch wants to focus on challenges facing Punjab today and take the people's views.
Shiromani Akali Dal President Sukhbir Singh Badal on Wednesday hailed the victory of his party in the Delhi Sikh Gurdwara Management Committee (DSGMC) elections as "a forceful referendum of the Khalsa Panth in favour of the panthic identity and religious commitment of the party".
Ranjit Singh, a former follower of Ram Rahim, was shot dead by four assailants on July 10, 2002, in Kurukshetra after he allegedly "raised his voice" against the self-styled godman, who is currently lodged at the high-security Sunaria jail in Rohtak, 250 kms from state capital Chandigarh.
Bharatiya Janata Party chief J P Nadda on Tuesday asked the Congress national leadership to clarify their stand on whether they support the remarks on Kashmir and Pakistan made by party leaders in Punjab. Nadda said that the silence of the Congress leadership will be seen as being implicit to such objectionable remarks.
The farmers union leaders had earlier pointed out that Punjab had failed to hike sugarcane SAP in proportion to Haryana over this period, causing fiscal losses to them.
