Close X
Sunday, December 1, 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

Punjab may witness 20pc rise in aerosol pollution in 2023: Study

Punjab may witness 20pc rise in aerosol pollution in 2023: Study
The study -- A deep insight into state-level aerosol pollution in India -- by researchers Abhijit Chatterjee Associate Professor and his PhD scholar Monami Dutta from Bose Institute, Kolkata, provides a national scenario of aerosol pollution with the long-term (2005-2019) trend, source apportionment, and future scenario (2023) for various Indian states.

Punjab may witness 20pc rise in aerosol pollution in 2023: Study

Sikhs to register their marriage, says Punjab CM

Sikhs to register their marriage, says Punjab CM
Extending his greetings to the people on the auspicious occasion of Prakash Purb, Mann said that Guru Nanak Dev was a great spiritual ambassador who guided humanity to attain salvation by spreading the cult of devotion to God.

Sikhs to register their marriage, says Punjab CM

This man was brutalised to make him a 'suitable' beggar

This man was brutalised to make him a 'suitable' beggar
He was abducted by the begging mafia six months ago. The gang gave him an injection that made him blind. They cut the fingers of his hand and foot and assaulted him to give injury marks - all this to make him a suitable beggar.  Suresh Manjhi, 24, a daily wage labourer weeps bitterly as he recounts his tale of woe.

This man was brutalised to make him a 'suitable' beggar

PM Modi to participate in Guru Nanak Jayanti celebrations

PM Modi to participate in Guru Nanak Jayanti celebrations
The celebration -- on the eve of Guru Nanak Jayanti, took place at the residence of Iqbal Singh Lalpura, chairperson of National Commission for Minorities. Modi offered prayers to Guru Nanak Dev and also addressed the gathering on the occasion, sources said.

PM Modi to participate in Guru Nanak Jayanti celebrations

Rs 100 crore to be spent for beautification of Amritsar for hosting G-20

Rs 100 crore to be spent for beautification of Amritsar for hosting G-20
Local Government Minister Inderbir Singh Nijjar said the G-20 summit is going to be held in the holy city of Amritsar, possibly from March 15 to 17, 2023, and will have participation of the heads of state of G-20 countries and other international delegates

Rs 100 crore to be spent for beautification of Amritsar for hosting G-20

Free flats approved for 3cr poor citizens: Hardeep Puri

Free flats approved for 3cr poor citizens: Hardeep Puri
The Minister said this while speaking after flagging-off 30 campaign chariots of the Bharatiya Janata Party (BJP) from the office of the saffron party's Delhi unit, in view of the MCD elections. The chariot flagging event was also attended by BJP leaders, office bearers and party workers.

Free flats approved for 3cr poor citizens: Hardeep Puri