Saturday, December 20, 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

Bail denied to man who fled to Canada after duping banks

Bail denied to man who fled to Canada after duping banks
Special Judge Anil Antil of Rouse Avenue Court noted that the accused Ankur Aggarwal along with his family had absconded and concealed himself for about 15 years in Canada and even after coming to India, he remained elusive for about three years or so.

Bail denied to man who fled to Canada after duping banks

Threat to life of ex-minister Majithia: Akali Dal

Threat to life of ex-minister Majithia: Akali Dal
Addressing a press conference here to highlight the letter written by Majithia's wife and Majitha legislator Ganieve Kaur Majithia to the DGP along with a copy to chief minister Bhagwant Mann, senior SAD leaders Maheshinder Singh Grewal and Daljit Singh Cheema demanded the immediate removal of Sidhu from the additional charge of the ADGP, Prisons, besides taking other necessary action in the case.

Threat to life of ex-minister Majithia: Akali Dal

Sikh should learn use of modern weapon: Akal Takht Jathedar

Sikh should learn use of modern weapon: Akal Takht Jathedar
The Akal Takht Jathedar and Shiromani Gurdwara Parbandhak Committee (SGPC) officials honoured the families of those who were killed during 'Operation Bluestar'. There was heavy barricading by police around all entry points to the Golden Temple.

Sikh should learn use of modern weapon: Akal Takht Jathedar

Criminals found using Delhi Police sticker on car, arrested

Criminals found using Delhi Police sticker on car, arrested
According to the official, information was received on June 3 that two persons carrying a country-made pistol would come in a car at Jamia Nagar to meet their common friend.

Criminals found using Delhi Police sticker on car, arrested

Moosewala killing: Third arrest made by Punjab Police

Moosewala killing: Third arrest made by Punjab Police
Davinder Singh, aka Kala, was arrested on Sunday from Haryana's Fatehabad town. Two suspects involved in the killing -- Keshav and Charanjeet -- had stayed with him, police officials said.

Moosewala killing: Third arrest made by Punjab Police

Man chops off wife's hand to stop her from taking govt job

Man chops off wife's hand to stop her from taking govt job
What was the worst is that he went to admit his wife at a local hospital on Monday morning after his brutal attack but concealed the severed body part at his residence to make sure that the doctors are unable to reattach it.

Man chops off wife's hand to stop her from taking govt job