Many state governments have reinstated the Old Pension Scheme over the past year. In addition to this, employees have begun a campaign in many states to reinstate the previous pension. The Old Pension Scheme (OPS) was originally reinstated by the Rajasthani administration led by Ashok Gehlot. But in this case, the Rajasthan State Road Transport Corporation (RSRTC) has issued a directive implementing the (OPS) for the employees.
These workers are not qualified for an old pension.
Such personnel who have resigned from their posts or who have been sacked, according to an order issued in this regard. These workers will not be qualified for an elderly pension. According to a government directive, employees who want to choose the old pension option must submit their applications by June 30; otherwise, they would be treated as CPF plan participants.
The family pension is also available to family members.
Employees’ surviving family members may also apply for OPS. For personnel working in Boards, Corporations, Autonomous, Semi-Autonomous Bodies, and Universities (Established on or after January 1, 2004), the State Finance Department has already issued an order to implement the old pension.
Senior Finance Department officials claim that employees
who choose not to opt for the old pension will have their contributions made in accordance with university norms. In other words, 12% of both the employer’s portion and the employee’s half must be paid. The pension fund will receive the employer’s portion, and the GPF fund will receive the employee’s portion.
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