in country New Pension Scheme (NPS) Vs. Old Pension Scheme There is a strong debate going on about (OPS).
The old pension scheme for employees has been restored in many states. 2023 and 2024 are election years in India. Pension has also become an election issue.
However, a few days ago, the Reserve Bank of India, citing financial reasons, has described the Old Pension Scheme as dangerous for the economy.
Meanwhile, some central government employees have got a good opportunity. They are getting a chance to switch to the old pension scheme.
A memorandum has been issued by the Pensioners Welfare Department regarding this. Its benefit will be available to those people who have changed jobs before the notification of NPS.
NPS in India was notified on 22 December 2003. The deadline for the one-time option to switch for employees is November 30.