Old Pension Scheme In Jharkhand Latest News: The old pension scheme which was discontinued in 2004 is now being implemented again. The Jharkhand government has announced that it will bring back the old pension scheme for government employees. 

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According to a PTI report, the old pension scheme will come into effect in Jharkhand from October 1. The state Cabinet has already approved the Standard Operating Procedure (SOP) for the implementation of the old pension scheme.

The Cabinet had on July 15 decided that the old pension scheme would be implemented back. With this, the new contributory pension scheme will be scrapped.

"In this regard, it was decided that a SOP will be framed for implementation of the scheme, which was approved by the cabinet today. The scheme will be considered effective from September 1," Cabinet Secretary Vandana Dadel said on Thursday.

The old pension scheme was discontinued on April 1, 2004. It was replaced by the National Pension System (NPS). Under the old pension scheme, the entire pension amount is given by the government. In NPS, employees contribute 10 per cent of their salary towards pension while the state government contributes 14 per cent. 

Notably, implementing the old pension scheme was one of the key poll promises that Hemant Soren had made ahead of the Assembly elections in 2019. "Another promise fulfilled," Chief Minister Hemant Soren said in a Tweet.

The implementation of the old pension scheme would benefit about 1.5 lakh Jharkhand government employees.