New Delhi: After the formation of Modi 3.0 government at the center, there is a big good news for the central employees. Actually, the Narendra Modi-led Bharatiya Janata Party government has proposed an increase in pension to the central employees under the National Pension Scheme (NPS). According to the information revealed, the central government has proposed a guarantee of 50 percent pension on the last basic salary of central employees.
The committee was formed under the chairmanship of TV Somanathan
Last year in March 2024, the central government led by Prime Minister Narendra Modi constituted a committee under the leadership of Finance Secretary TV Somanathan, whose aim was to find ways to improve pension benefits under the National Pension Scheme i.e. NPS without returning to the Non Contributory Old Pension Scheme (OPS). This committee was formed when many states of the country refused to implement the National Pension Scheme and started the process of old pension system OPS.
These people were included in the committee
This committee included Special Secretary Radha Chauhan in the Expenditure Department of the Finance Ministry, Annie Mathew and Deepak Mohanty, Chairperson of the Pension Fund Regulatory and Development Authority.
50 percent pension guarantee
If you retire on your last salary of Rs 50,000 per month, you will be given Rs 20 to 25 thousand per month as pension. However, the total service time and any withdrawal by you from the pension fund will be adjusted. Under the National Pension Scheme, central employees will be guaranteed a pension equal to 40 to 50 percent of their last salary. However, the total service time and any withdrawal by you from the pension fund will be adjusted. To meet this pension guarantee, any shortfall in the pension fund will be met from the budget of the central government.
More than 87 lakh employees will benefit
According to a statement from the Finance Ministry, this amount keeps increasing with the increase in DA rates. If the National Pension System is implemented, then more than 87 lakh central employees registered in the National Pension Scheme from January 1, 2004 will get its benefit. The ministry had said that OPS is not financially sustainable as it is not contributory and the burden on the government treasury keeps increasing.
