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Time of India
6 days ago
- Business
- Time of India
Will Old Pension Scheme benefits be given to these government employees? Here's what finance ministry says
Academy Empower your mind, elevate your skills What does OM No. 57/05/2021-P&PW(B) say? SBI employees' eligibility for Old Pension Scheme What is Old Pension Scheme (OPS)? What is National Pension System (NPS)? There have been continuous attempts by central government employees whose appointments were done on the basis of vacancies advertised before implementation of NPS , that they should be allowed to get Old Pension Scheme . This question was raised in Lok Sabha to which the government Finance Ministry has said that Old Pension Scheme (OPS) benefits won't be extended to central government employees who were appointed against the vacancies advertised before the issuing of the notification of National Pension System (NPS) on December 22, Chaudhary, Minister of State for Finance, said in a Lok Sabha session on Tuesday (August 13, 2025) that in light of various court judgements, the government had issued instructions vide OM No. 57/05/2021-P&PW(B) dated 03.03.2023, giving a one-time option to central government civil employees for inclusion under the CCS (Pension) Rules, 1972 (now 2021).Also Read: Old Pension Scheme benefits in UPS: Central Govt employees can claim OPS benefits in Unified Pension Scheme for these cases The minister clarified that no proposal is under consideration for extended OPS benefits to such employees, whether they are employed in Public Sector Undertakings (PSUs) or Public Sector a memorandum dated March 3, 2023, Department of Pension and Pensioners Welfare said that in consultation with the Department of Personnel & Training, Department of Expenditure and Department of Legal Affairs, in the light of the various representations/references and decisions of Hon'ble Courts, issued instructions vide OM No. 57/04/2019-P&PW(B) dated 17.02.2020, giving a one-time option to Central Government employees who were declared successful for recruitment in the results declared on or before December 31, 2003, against vacancies which occurred before January 01, 2004, and were covered under the National Pension System on joining service on after January 01, 2004, to be covered under the CCS(Pension) Rules, 1972 (now 2021). There was a fixed time schedule for different activities under the aforesaid OM dated Read: Central government employees, in NPS, can choose OPS under certain conditions; Check eligibility, forms to submit Chaudhary was referring to the query of Dharamvira Gandhi, a member of Parliament from the Patiala constituency, who also asked whether the government ensures that all the employees of State Bank of India , whose recruitment process was conducted before August 1, 2010, but whose appointments were delayed due to unavoidable circumstances and took place after August 1, 2010, are also included in the Old Pension Scheme?Chaudhary said, 'As per the State Bank of India Employees' Pension Fund Regulations, 2014, the old pension will not be applicable to those who joined the services of SBI on or after 01.08.2010.'Old Pension Scheme (OPS) is an age-old pension system in India that dates to the 19th century. It went through many changes ever since and got its present form post independence in 1947. The striking change was when the retirement age was increased from 58 to 60. The scheme provides a defined pension at retirement. It also has the features of pension commutation and family scheme was discontinued by the central government in January 2004 and replaced with New Pension System (NPS). However, many states still follow Old Pension Scheme (OPS).NPS replaced OPS for central government employees on January 1, 2004. It is a defined contribution system where employees get market-linked returns. Unlike OPS, it doesn't provide a defined pension. Central government employees can open a Tier I NPS account. At 60 years of age, they can withdraw up to 60 per cent of their corpus as a lump sum amount. From the remaining amount, they need to purchase an annuity plan, which provides them a monthly pension.
Time of India
15-05-2025
- Politics
- Time of India
Despite hawkish rhetoric, Punjab backed India-Pak ceasefire, peace efforts
Jalandhar: When the central govt and BJP appeared to be working hard to convince their support base about the ceasefire agreed upon by the govt, in Punjab — where the saffron party is a fourth player — the idea of a ceasefire was readily welcomed. Tired of too many ads? go ad free now Unlike a few other states, where sentiment for war appeared strong, in Punjab, an atmosphere of apprehension about the fallout of escalation on the border was prevailing, and there were anti-war voices as well. Only a few spoke out unequivocally against war when escalation started fearing negative reactions, but the ceasefire was largely welcomed in the state. BJP has been finding it hard to boost its footprint in the only Sikh-majority state in the country, as the community has remained apprehensive of the saffron party. However, the unequivocal support for the Centre's decision to accept the ceasefire came from Sikh quarters. From the national parties, only Congress MP Dr Dharamvira Gandhi was the first to speak out against war during the escalation. He gave a call to the people to oppose war. The Patiala MP took this stand, using strong adjectives in Punjabi, when Congress MP Manish Tewari strongly argued for an "endgame," India's planning for the permanent extinction of "this artificial state of play in existence since 1947, irrespective of the cost in terms of blood and treasure. " The Chandigarh-based Kendri Sri Guru Singh Sabha, which had hosted Tewari before Lok Sabha polls, strongly criticised him for his "Hindutva hawkish approach." Former MP and Shiromani Akali Dal (Amritsar) president Simranjit Singh Mann, BKU (Ugrahan) president Joginder Singh Ugrahan, and his associates also strongly opposed escalation and war. Akal Takht acting jathedar Giani Kuldip Singh Gargaj, on May 7, while condemning the killing of civilians in Poonch in shelling by Pakistan, said that the govts of both countries should make sincere efforts to restore peace. Tired of too many ads? go ad free now On May 9, he led a group of Sikhs to perform ardas (prayer) at Takht Kesgarh Sahib for peace in South Asia, and then on May 10, he welcomed the ceasefire, just after it was announced, and said that the region needed peace and communal harmony. "People of Punjab stood with Indian armed forces firmly, although they suffered due to complete blackouts and debris of destroyed drones and missiles. The ceasefire has brought a big relief. People of Punjab now should force all political parties of Punjab to support the ceasefire, irrespective of the stand of their national leadership," argued senior advocate H S Phoolka in his post on X on May 11, when pro-ceasefire voices were still feeble. Leader of opposition Partap Singh Bajwa also welcomed the ceasefire. There were other voices in the Punjabi social media space who welcomed the Narendra Modi govt's decision to agree to the ceasefire. Shiromani Akali Dal president Sukhbir Singh Badal on May 13 praised the PM for his "statesmanlike conduct in accepting Pakistan's entreaty for a ceasefire following a decisive victory, which saved Punjab from destruction". He also said that Congress and AAP, who were questioning the ceasefire, were the real enemies of Punjab and the nation.
