National Pension System Government employees can get 50 percent of their last pay as pension says a Report

Old Pension Scheme: In the recent past, due to the implementation of the old pension system in many states, there has been a debate about the National Pension System in the country. Due to this, the government is trying to make NPS attractive. Soon a decision can be taken to give 50 percent of the last salary of the central government employees as pension under NPS. Recently, Finance Minister Nirmala Sitharaman also constituted a committee in this direction under the chairmanship of Finance Secretary TV Somanathan.

The government does not want to bring back the old pension scheme

According to the Times of India report, the central government is making serious efforts to remove the discrepancies related to salary and pension. The government does not want to bring back the Old Pension Scheme at any cost. Under OPS, employees get half of their last salary as pension after retirement. On the other hand, 10 percent of the employee's basic pay is deducted in NPS. The government also contributes 14 percent in this. Therefore, full preparations are being made to provide benefits like OPS in NPS itself.

There is also a consideration on introducing a Corporate Retirement Benefit Fund

The report claims that the central government is worried due to the reintroduction of OPS by some states like Andhra Pradesh. The Somanathan Committee is studying the pension systems running across the world. To counter OPS, a guaranteed 50% of the salary as pension can be announced under NPS to employees who have worked for 25 to 30 years. Apart from this, the government is also considering bringing a fund like Corporate Retirement Benefit. Such funds are run by those companies where employees get the benefit of pension.

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