Suspense over on scrapping NPS and bringing Central govt employees under Old Pension Scheme --Know what govt said

New Delhi: Union Minister of State for Finance Dr Bhagwat Kisanrao Karad said that there were no plans now for considering any proposal to bring back the old pension scheme for the central government employees.

Karad in a written reply to a question in Rajya Sabha said that there is no proposal under consideration for scrapping the National Pension System and reverting all officials of the Central government under the Old Pension Scheme.

Replying to a query on whether the union government would also scrap NPS and revert all officials of Central government under Old Pension Scheme on the line of the state government of Rajasthan, Karad said, "there is no such proposal under consideration of Government of India."

In a major announcement in its budget presented on 23 February 2022, the Ashok Gehlot-led Rajasthan government decided to implement the old pension scheme from next fiscal for all employees appointed on or after January 1, 2004.

The old pension scheme for government employees was discontinued in the country from April 1, 2004, and the new National Pension Scheme (NPS) was implemented.     National Movement for Old Pension Scheme (NMOPS), an umbrella body of more than 14 lakh central and state government employees, had recently written to Union Finance Minister Nirmala Sitharaman and Minister of State for NPS modification.