Restoration of Old Pension Scheme: Lok Sabha QA
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
LOK SABHA
UNSTARRED QUESTION NO: 812
ANSWERED ON: 07.02.2022
Restoration of Old Pension Scheme
Rakesh Singh
Will the Minister of
FINANCE be pleased to state:-
(a) whether the Central and State Government employees are opposing the New Pension Scheme;
(b) if so, the details thereof;
(c) whether the Government proposes restore the Old Pension Scheme keeping in view the benefits of the said scheme in interest of employees;
(d) if so, the reasons thereof; and
(e) if not, the reasons therefor?
ANSWER
The Minister of State (Finance)
(a) to (e) Representations have been received from time to time which include the request for restoration of Old Pension Scheme. There is no proposal under consideration of Government of India for restoration of old pension scheme in respect of Central Government employees recruited on or after 01.01.2004. The National Pension System (NPS) was introduced by the Government of India to replace the defined benefit pension system by defined contribution pension scheme in order to provide old age income security in a fiscally sustainable manner and to channelize the small savings into productive sectors of the economy through prudential investments.
Also Read: National Pension System to Old Pension Scheme – One Time Option to Change
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Eps95 pensioners are getting pension even less than the interest of their pension fund amount.
EPS 95 pensioners are getting a very meagre minimum pension of Rs 1000/pm .Appeal to the GOI to enhance minimum pension as per request of NAC
Myself is getting monthly pension Rs. 1000 under eps95 pension scheme. I was employee of pvt company. Finding difficult to survive . So, requesting Central govt to consider to increase min. Of Rs. 5000 which is very much essential
Dear sir, unfortunately Govt. gives heavy pension to Govt. employee s. Their output is nil after retirement .It is astonishing that they expect the people from pvt. sector to live within 1000 ₹. Pension is a token of appreciation.But here it is a heavy source of income for State & Central Governments. The Govts. donot care for people ; they care for votes ! Yes.This is India !
Yes.we r retired from Food corporation of india for 33 years.epf pension1995 getting 1296.om wef from 2004 onwards.poor pension.i am 72 years old…we seek increase in pension
.. Nagarajan
Retired old age people from pvt companies most of them receiving pension less than ₹1000 under eps 95 pension scheme. Request Central govt to consider to increase min of ₹5000 for their living seems to be essential.