Demand for Old Pension Scheme among central government employees is increasing. The Modi government has become cautious seeing their increasing demand. There are assembly elections in several states ahead. At the same time there is Lok Sabha election in 2024. So they are eager to meet this demand of workers to retain power. For that, how to give them this benefit, the discussion is going on within the government.
The pension regulator and the center are discussing this. It is reported that three solutions have emerged through it. As before, half of the last salary can be paid as pension. But it will also require the participation of workers. Such a scheme is currently running in Andhra Pradesh. The Pension Fund Regulatory and Development Department (PFRDA) has already spoken to the Centre.
The second option is to keep the existing NPS minimum pension system. There are many complaints about this project. Even if the workers join this scheme, there is not much return. It has been worked on in the meantime. Although the approval of the board is awaited now. According to sources, the minimum return in this scheme will be 4 to 5 percent. Which is very less.
But if the market can give good returns, then 2-3 percent more pension than the minimum return can be obtained. Employees get 60 percent of the maturity amount in this NPS. But if this amount is added to the pension, the pension amount will increase. Thirdly, guarantee minimum pension to all like Atal Pension Yojana.
PFRDA is currently running this scheme. A pension of 1000 to 5000 taka is given according to the joining. There is talk of lifting this limit of 5 thousand rupees. Also PFRDA can further enhance Atal Pension Yojana. But for this the government has to take the responsibility of financial assistance. Each of these aspects can be looked into and implemented by PFRDA. But we have to wait till the new chairman comes. The term of the old chairman has expired. As a result, a new person will come in this position. Only then can work begin.