Demand for Old Pension Scheme

Recently, many states in India have been raising their demands for restoration of old pension scheme for government employees.

About Old Pension Scheme

  • In the old pension regime, pension was 50% of the last drawn salary of the employee and the entire amount was paid by the government.
  • The OPS income was not taxable and the employee was entitled to inflation-linked dearness relief every six months.
  • The scheme was discontinued on April 1, 2004, and replaced with the National Pension Scheme.

National Pension Scheme (NPS)

  • Project Oasis (old age social and income security) report (1999) ....
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