Chhattisgarh has become the first state to notify restoration of old pension scheme (OPS) to provide assured income to retired employees.
Goverment Scheme
Chhattisgarh has become the first state to notify restoration of old pension scheme (OPS) to provide assured income to retired employees. The state has also sent a detailed proposal to Pension Fund Regulatory and Development Authority (PFRDA) to withdraw '17,000 crore accrued under the market-driven National Pension System (NPS) since November 2004. The Chhattisgarh government issued a Gazette notification switching back to OPS from NPS. The OPS has become effective from April 1, 2022. The 10% deduction for monthly contribution from the salary of government servants under the new contributory pension scheme will be abolished from April 1, 2022 and a minimum of 12% of the basic salary will be deducted as per the General Provident Fund rule.
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