Close X
Friday, November 29, 2024
ADVT 
India

Punjab Cabinet approves implementation of old pension scheme

Darpan News Desk IANS, 18 Nov, 2022 02:07 PM
  • Punjab Cabinet approves implementation of old pension scheme

Chandigarh, Nov 18 (IANS) Eyeing Gujarat elections, the Bhagwant Mann-led AAP government on Friday approved the notification for implementing the old pension scheme (OPS) in Punjab, directly benefitting more than 1.75 lakh government employees.

A decision to this effect was taken in the meeting of the council of Ministers held under the leadership of the Chief Minister here.

Disclosing this here today, a spokesperson for the Chief Minister's Office said the government has approved the OPS for its employees currently covered under New Pension Scheme (NPS), fulfilling a long-pending demand of employees of the state.

This will directly benefit more than 1.75 lakh employees currently covered under NPS. In addition to this, 1.26 lakh employees are already covered under the existing OPS.

The scheme is aimed at safeguarding the future of government employees and recognising their contribution towards the state. In order to ensure that the scheme being introduced is financially sustainable for the exchequer in the future also, the government will be contributing proactively towards creation of a pension corpus which will service the pension in future to the beneficiaries of the scheme.

This contribution towards the pension corpus will be Rs 1,000 crore per annum initially and will gradually increase in future.

Besides, the current accumulated corpus with NPS is Rs 16,746 crore for which the state will request Pension Fund Regulatory and Development Authority of the government of India to refund this amount for effective utilisation at its end.

MORE India ARTICLES

Sonali Phogat's death appears to be due to cardiac arrest: Goa CM

Sonali Phogat's death appears to be due to cardiac arrest: Goa CM
On Tuesday, the Police had written to the Department of Forensic Medicine at Goa Medical College for appointing a panel of doctors for conducting the post-mortem.  The autopsy is expected to be conducted later in the day.

Sonali Phogat's death appears to be due to cardiac arrest: Goa CM

Gurugram: Man arrested for selling fake vehicle insurance policies

Gurugram: Man arrested for selling fake vehicle insurance policies
Accused Rahul Kumar was arrested by cyber crime police station team (east) of the Gurugram police on Monday. Rahul Kumar was on the run since June 2021 when he along with his accomplice had duped a Gurugram resident of Rs 51,218 on the pretext of renewing his vehicle policy.

Gurugram: Man arrested for selling fake vehicle insurance policies

It's equally important to develop health services: Modi at Punjab cancer hospital opening

It's equally important to develop health services: Modi at Punjab cancer hospital opening
The foundation stone of the cancer hospital, the first of its kind cancer care in north India, was laid by then Prime Minister Manmohan Singh on December 30, 2013. At that time Parkash Singh Badal was the Chief Minister of Punjab in a coalition of the Shiromani Akali Dal-BJP government.

It's equally important to develop health services: Modi at Punjab cancer hospital opening

BJP leader Sonali Phogat passes away in Goa

BJP leader Sonali Phogat passes away in Goa
The leader, who complained of uneasiness on Monday night, was taken to hospital at around 8 a.m. this morning, where she was declared brought dead. Sonali Phogat had contested the 2019 Haryana Assembly election from Adampur and lost to Congress candidate Kuldeep Bishnoi.

BJP leader Sonali Phogat passes away in Goa

Kerala gold smuggling case: Man held for issuing fake degree certificate to accused Swapna

Kerala gold smuggling case: Man held for issuing fake degree certificate to accused Swapna
During investigation, it was found that Swapna is a school dropout but managed to get a degree certificate from Dr. Babasaheb Ambedkar Open University. Based on the fake certificate and influence of high ranking officials like Sivasankar, she secured a plush job in the IT department which was headed by Vijayan.

Kerala gold smuggling case: Man held for issuing fake degree certificate to accused Swapna

BSF foils smuggling attempt in Punjab, recovers M3 and AK47 type rifles

BSF foils smuggling attempt in Punjab, recovers M3 and AK47 type rifles
Earlier, Punjab Chief Minister Bhagwant Mann asked Director General of the Border Security Force (BSF) Pankaj Kumar to enhance vigil at the borders of the state for checking smuggling of drugs and weapons from across the border. The Director General had called on the Chief Minister here on July 31.

BSF foils smuggling attempt in Punjab, recovers M3 and AK47 type rifles