Old Pension Scheme in Himachal Pradesh to be implemented in first cabinet meeting, says CM Sukhwinder Singh Sukhu

Four-time congress legislator Sukhwinder Singh Sukhu took oath as the 15th Chief Minister of Himachal Pradesh on Sunday. After taking the oath, he announced that the government would implement the OPS (Old Pension Scheme) at the first cabinet meeting.

"We have given 10 guarantees and we will implement them. We will give transparent and honest government. We will implement OPS (Old Pension Scheme) in the first cabinet meeting," he told news agency ANI.

Notably, the old pension scheme was discontinued by the BJP-led NDA government in December 2003. The government had then launched the National Pension System (NPS) as a substitute for the old pension scheme.

The NPS took effect on April 1, 2004. In general, both the old pension scheme and NPS are pension schemes. But the two are different from each other.

While the old pension scheme is a pension-oriented scheme, the NPS is an investment cum pension scheme where a part of the money is invested in the market, thus generating more returns.

The Congress party had promised to implement OPS in Himachal Pradesh if wins the elections. The party won 40 seats in the 68-member Legislative Assembly.

Earlier, senior Congress leader and Rajasthan Chief Minister Ashok Gehlot had said that OPS was essential to the party's victory in the Himachal Pradesh Assembly elections.

"Every person has the right to live. OPS helps people in drawing sufficient pensions in old age. I also urge the Centre to implement such beneficial schemes throughout the country," he added.

Non-BJP ruled states like Chhattisgarh, Jharkhand and Rajasthan have already implemented the OPS.

(With ANI inputs)

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