Old Pension Scheme Update: The Himachal Pradesh government, fulfilling its election promise, has taken a historic decision to re-implement the Old Pension Scheme for state government employees. This scheme provides financial security to the employees after retirement.
What is the old pension scheme
Under the old pension scheme, government employees get up to 50% of their last salary as a pension after retirement. This scheme was applicable in Himachal Pradesh till 2003, but later it was discontinued.
What’s new in OPS
Along with re-implementing the old pension scheme, the government has also made some changes in its rules.
Earlier the benefit of this scheme was available only to those employees who have completed 10 years.
Now the time spent working on contract will also be included: Now the time spent working on contract will also be counted in government service.
That is, if an employee has worked on a contract for a few years and then on a regular job, then he can take advantage of this scheme after completing a total of 10 years.
How many employees will benefit
It is expected that more than 1 lakh 30 thousand government employees will benefit from this new change. This also includes those employees who were not able to get the benefit of this scheme due to less than 10 years of service earlier.
What will the employees have to do
To take advantage of this scheme, employees have to take some easy steps.
Retired employees will have to give their options to their department head within a month.
Employees who complete the process on time will be included in the government beneficiary list.
Why is this scheme important
The old pension scheme is important for government employees because:
It ensures them regular income after retirement.
Helps to deal with inflation and other economic challenges.
Provides financial security in old age.
Welcome the government’s decision
The state employees have welcomed this decision of the Himachal Pradesh government. This will not only benefit the existing employees but also the employees who were earlier deprived of this scheme.
This step is a positive initiative towards the welfare of the employees and the financial security of their families.
