Decision regarding implementation of OPS instead of NPS in Cabinet Meet, Says Karnataka CM

Karnataka Chief Minister Siddaramaih said in the cabinet meeting will discuss and decide regarding the implementation of the old pension scheme, Karnataka State Government Employees has requested Chief Minister Siddaramaih to cancel New Pension Scheme (NPS) and to implement the Old Pension Scheme (OPS).

A delegation of officials of the employees union and various organizations met Karnataka Chief Minister Siddaramaih today (13th June 2023) to request to cancel New Pension Scheme (NPS) and to implement the Old Pension Scheme (OPS)., Karnataka Chief Minister Siddaramaih said in Cabinet meeting regarding implementing Old Pension Scheme (OPS) to be discussed and decision to be announced, He further added that the employees should work to adequately implement the guarantee schemes implemented by the government, and said they should work sincerely to reach the benefits of Government Guarantees to the people. 

Former Legislative Council member V S Ugrappa said that New Pension Scheme (NPS) was implemented on 1st April 2006. 2.98 lakh employees are covered under New Pension Scheme (NPS), The pension amount is deposited in NSDL. This amount can be used and kept in GPF to be available at the time of retirement.

Shantaram Teja, President of Karnataka State NPS Employees Association said that 9 thousand crores of employee’s share can be converted to GPF and 10 thousand crores of government’s share can be used for development programs.