June 12, 2024
  • The state government notified the much-awaited rules for the implementation of the old pension scheme (OPS) for its employees.
    • The Congress government had restored the OPS in its first Cabinet meeting after assuming power.
  • The OPS will cover 1.36 lakh state government employees, who at present come under the New Pension Scheme (NPS).
  • As per the notification issued by issued by Chief Secretary ,the new rules, called Central Civil Services (Pension) (HP Fourth Amendment) Rules, 2023, would come into force retrospectively from April 1.
  • The employees appointed between May 5, 2005, and March 31, 2023, who were covered under the New Pension Scheme (NPS), would now be covered under the OPS.
  • It states that the new rules shall also apply to government servants, who had retired or died between May 5, 2005, and March 31, 2023.
  • Retired government servants or their eligible family members can exercise their option for pensionary benefits under these rules from April 1, 2023.
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