Good news for government employees: Old pension scheme comes into effect

New Delhi: Old Pension Yojana has been launched in Jharkhand on Thursday. The state cabinet has approved the standard operating procedure for this. The old pension scheme was discontinued on 1 April 2004 and the National Pension Scheme (NPS) was introduced. Cabinet Secretariat Department Chief Secretary Bandana Dadel said, “In the cabinet meeting held on July 15, it has been decided to implement the old pension scheme and stop the new pension scheme.

He said, ‘In this context, it has been decided that an SOP will be prepared to complete this plan. This SOP has been approved by the Cabinet. This plan will be implemented from September 2. However, hundreds of government employees gathered at the state secretariat to observe the implementation of the old pension scheme.

Sharing the photo of the ceremony, Chief Minister Hemant Soren tweeted, ‘Another promise has been fulfilled. The government is paying the full amount of the pension as per the old pension scheme. In NPS, employees contribute 10 percent of their salary towards pension while the state government contributes 14 percent. About 1.5 lakh employees of the Jharkhand government will benefit if the old pension scheme is implemented.