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Old Pension Scheme

NPS vs UPS vs OPS: What will be your monthly pension if you contribute Rs 10,000 monthly for 35 years? Get expert calculations

NPS vs UPS vs OPS: What will be your monthly pension if you contribute Rs 10,000 monthly for 35 years? Get expert calculations

Fri, Sep 06, 2024

NPS vs UPS vs OPS: The central government launched NPS for central government employees in 2004. The government included private employees, self-employed, and other individuals in 2009. UPS is aimed at consolidating multiple pension systems like OPS and NPS into a single framework. Old Pension System (OPS) is the first pension in India introduced in 1924. It was revised post independence.

OPS vs NPS vs UPS: Which of 3 will offer highest monthly pension on Rs 900,000 annual income; know expert calculations

OPS vs NPS vs UPS: Which of 3 will offer highest monthly pension on Rs 900,000 annual income; know expert calculations

Fri, Aug 30, 2024

OPS vs NPS vs UPS Pension Calculations: In the Old Pension System (OPS), employees invest 10 per cent of their monthly salary along with basic and dearness allowance, while the government contributing 14 per cent. National Pension Scheme (NPS) funds invest in equity, corporate debt, government bonds, and alternative Investment funds.

UPS vs OPS: What are key differences between Unified Pension Scheme and Old Pension Scheme | Know here

UPS vs OPS: What are key differences between Unified Pension Scheme and Old Pension Scheme | Know here

Tue, Aug 27, 2024

UPS vs OPS: Although Ashwini Vaishnaw has explained the details of the UPS, there is still confusion among the people. Most of them struggle to understand the key differences between the old pension scheme and the unified pension scheme. Here are four key differences between the Unified Pension Scheme and the Old Pension Scheme that every employee should know:

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PM Modi to meet employee organisations on August 24; may discuss NPS and OPS

PM Modi to meet employee organisations on August 24; may discuss NPS and OPS

Fri, Aug 23, 2024

The PM is expected to discuss about old pension scheme (OPS) and the new pension scheme (NPS) in the meeting.

Budget FY25: Trade unions seek restoration of OPS, increase in tax rebate for salaried class

Budget FY25: Trade unions seek restoration of OPS, increase in tax rebate for salaried class

Mon, Jun 24, 2024

The unions also asked the government to stop the privatisation drive of PSUs, scrap the new pension scheme and restore the old pension scheme (OPS).

Karnataka govt announces to implement Old Pension Scheme for 13,000 employees

Karnataka govt announces to implement Old Pension Scheme for 13,000 employees

Thu, Jan 25, 2024

Siddaramaiah said that he had promised to fulfil this demand to the government employees when they were on a strike against the new pension scheme.

Govt mulling restoration of old pension scheme (OPS) for central govt employees? Minister of State for Finance Pankaj Chaudhary says THIS in Lok Sabha

Govt mulling restoration of old pension scheme (OPS) for central govt employees? Minister of State for Finance Pankaj Chaudhary says THIS in Lok Sabha

Mon, Dec 11, 2023

The Minister of State for Finance Pankaj Chaudhary said that the state governments of Rajasthan, Chhattisgarh, Jharkhand, Punjab, and Himachal Pradesh have informed the central government/ Pension Fund Regulatory and Development Authority (PFRDA) about their decision to revert to the Old Pension Scheme (OPS) for their state government employees.

Guaranteed Pension System (GPS) vs Old Pension Scheme (OPS): Which pension scheme offers maximum retirement benefits?

Guaranteed Pension System (GPS) vs Old Pension Scheme (OPS): Which pension scheme offers maximum retirement benefits?

Fri, Sep 29, 2023

The Andhra Pradesh Assembly passed the Andhra Pradesh Guaranteed Pension System Bill-2023 on Wednesday. Under the Guaranteed Pension System all state government employees will be eligible for a guaranteed monthly pension of 50 per cent of their last drawn basic salary.

New Pension Scheme vs Old Pension Scheme: Which of the two offer maximum retirement benefit?

New Pension Scheme vs Old Pension Scheme: Which of the two offer maximum retirement benefit?

Tue, Sep 19, 2023

The National Pension System is open to both government employees and the citizens aged between 18 years to 60 years. On the other hand, the old pension scheme has been only designed for the government employees.

States shifting to old pension scheme major step backwards, fiscally unsustainable: RBI article

States shifting to old pension scheme major step backwards, fiscally unsustainable: RBI article

Mon, Sep 18, 2023

The article by Rachit Solanki, Somnath Sharma, R K Sinha, S R Behera and Atri Mukherjee said the cumulative fiscal burden in the case of the Old Pension Scheme (OPS) could be as high as 4.5 times that of the New Pension Scheme, which was implemented over a decade ago as part of pension reforms.

OPS vs NPS: Govt plans to make changes in new pension scheme on lines with old pension scheme

OPS vs NPS: Govt plans to make changes in new pension scheme on lines with old pension scheme

Mon, Mar 27, 2023

OPS vs NPS: Under the OPS, retired government employees received 50 per cent of their last drawn salary as monthly pensions. The amount keeps increasing with the hike in the DA rates.

NPS vs OPS: Govt to set up panel to improve new pension scheme to take care of employees’ concerns

NPS vs OPS: Govt to set up panel to improve new pension scheme to take care of employees’ concerns

Sat, Mar 25, 2023

While moving the Finance Bill 2023 for consideration and passage in the Lok Sabha, Finance Minister Nirmala Sitharaman said the new approach to the NPS will be designed for adoption by both central and state governments.

Centre Announces Committee Under Finance Secretary To ‘Improve’ NPS

Centre Announces Committee Under Finance Secretary To ‘Improve’ NPS

Fri, Mar 24, 2023

Finance Minister Nirmala Sitharaman Friday announced the formation of a committee to “improve” the National Pension System (NPS) for government employees, a move that comes against the backdrop of at least four Opposition-ruled states adopting the Old Pension Scheme.

Govt has no plans of returning to the Old Pension Scheme: Finance Ministry sources

Govt has no plans of returning to the Old Pension Scheme: Finance Ministry sources

Fri, Mar 24, 2023

Several states like Rajasthan, Chhattisgarh, Jharkhand, Punjab, and Himachal Pradesh have already rolled out the Old Pension Scheme and discontinued the National Pension System (NPS).

Aapki Khabar Aapka Fayda: Is Alternative Ready For Old Pension Scheme? Watch This Special Discussion

Aapki Khabar Aapka Fayda: Is Alternative Ready For Old Pension Scheme? Watch This Special Discussion

Tue, Mar 21, 2023

Amid protests in many states against the New Pension Scheme, sources from the Ministry confirmed that the government has prepared an alternative to the Old Pension Scheme. Discussions have been going on in the Finance Ministry regarding guaranteed returns in New Pension Scheme. Watch this special discussion of Aapki Khabar Aapka Fayda.

Old Pension Scheme Alternative: Finance Ministry Discusses On Minimum Guaranteed Pension Plan

Old Pension Scheme Alternative: Finance Ministry Discusses On Minimum Guaranteed Pension Plan

Tue, Mar 21, 2023

Amid protests in many states against the New Pension Scheme, sources from the Ministry confirmed that the government has prepared an alternative to the Old Pension Scheme. Discussions have been going on in the Finance Ministry regarding guaranteed returns in New Pension Scheme. Know complete details on the news from Tarun Sharma.

Old Pension Scheme alternative: Discussions on for minimum guaranteed pension and additional income for pensioners, say Finance Ministry sources

Old Pension Scheme alternative: Discussions on for minimum guaranteed pension and additional income for pensioners, say Finance Ministry sources

Tue, Mar 21, 2023

Old Pension Scheme: Sources from the Ministry also confirmed that the contribution will increase without burdening the exchequer and the majority of the investment will be possible in an annuity to increase the pension.

Maharashtra: 17 Lakh Govt Employees Go On Strike For Old Pension Scheme

Maharashtra: 17 Lakh Govt Employees Go On Strike For Old Pension Scheme

Tue, Mar 14, 2023

More than 17 lakh employees of the Maharashtra government went on strike on Tuesday seeking restoration of the Old Pension Scheme (OPS), a move that could hamper the functioning of the state administration and affect many services.

Certain Central government employees can opt for Old Pension Scheme | Watch To Check If You’re Eligible

Certain Central government employees can opt for Old Pension Scheme | Watch To Check If You’re Eligible

Mon, Mar 06, 2023

Government allows one-time option for those who applied for jobs advertised before December 22, 2003 but joined the service in 2004.

What is Old Pension Scheme? All you need to know

What is Old Pension Scheme? All you need to know

Wed, Jan 18, 2023

Old Pension Scheme: Under the Old Pension Scheme, approximately 50 per cent of the last drawn salary was provided as pension.

In backdrop of Congress-ruled states reverting to old pension scheme, RBI cautions against move | Details

In backdrop of Congress-ruled states reverting to old pension scheme, RBI cautions against move | Details

Tue, Jan 17, 2023

RBI cautions states against reverting to old pension scheme - Under the old pension scheme, employees get a defined pension. Under this, an employee is entitled for a 50 per cent amount of the last drawn salary as pension.

Chhattisgarh: State govt staffers get option to choose between new and old pension schemes

Chhattisgarh: State govt staffers get option to choose between new and old pension schemes

Fri, Dec 30, 2022

Chhattisgarh: The Congress-led state government's demand to refund Rs 17,000 crore was rejected by PFRDA. Other decisions in the cabinet meeting include distribution of fortified rice to ration cardholders except those above poverty line, and launch of the Mukhyamantri Vriksha Sampada Yojana under which commercial tree plantation will be promoted to boost the income of farmers, the official said.

Will Modi government restore pension scheme in 2023? Union Minister responds

Will Modi government restore pension scheme in 2023? Union Minister responds

Tue, Dec 13, 2022

"There is no proposal under consideration of government of India for restoration of old pension scheme," Minister of State for Finance Bhagwat Karad told the Lok Sabha in a written reply to a question by AIMIM MP Asaduddin Owaisi.

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