Renew ‘Old Pension Scheme’ To Ensure Financial Security Of Government Employees : NMOPS To Sikkim Government

Posted in Featured, Northeast, Sikkim

 

  • Sujal Pradhan, NET Correspondent, Sikkim 

The Sikkim Chapter of National Movement for Old Pension Scheme (NMOPS) is all set to submit a memorandum to the Chief Minister Prem Singh Tamang-Golay mentioning their demand to switch-over from the New Pension Scheme (NPS) to the Old Pension Scheme (OPS).

The Sikkim Chapter of NMOPS recently constituted a committee and appealed to the CM for consideration of their demand on behalf of retired government employees.

According to the President of Sikkim Chapter – Pema Doma Bhutia, the family members of the employees are deprived of financial benefits in the NPS but the same benefits can be enjoyed by them in the OPS.

“Those government employees appointed in various posts on or after January 1, 2006 are not eligible for OPS and are forced to opt for NPS.” – stated the scheme.

It further stated that under NPS, 10% each is contributed by the employee and the employer which gets accumulated in the Pension Fund Regulatory & Development Authority (PFRDA) under the Central Record Agency (CRA).

She further added “the 40% of total accumulation of funds deducted from the employees through NPS are invested in the share market through private companies. It feared that, if there is loss in the investment, the employees have risk of not getting any return, therefore, the OPS provides guaranteed benefit to the employee and the nominee.

“Whereas under the OPS, 50% of the last pay drawn before retirement is calculated as guaranteed retirement pension with addition to DA as when declared by the government.” – it further stated.

Bhutia also shared that under this new pension system, employees are not secured with a sum of amount but under earlier scheme – security was ensured.

Meanwhile, the General Secretary of newly form committee – Yogen Tamang “it was initially told that the subject falls under the central list but not because West Bengal has already giving pension under old scheme and Rajasthan and Chattisgarh has also started new pension scheme.”

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