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Old pension Scheme: Good news for employees, will get the benefit of ‘old pension scheme’, complete the process by August, OPS will be restored from October

Old pension Scheme: There is good news for the employees. They will get the benefit of the old pension scheme. However, for this it will be mandatory for them to complete the process by August.

Employees Old pension Scheme, OPS 2023: There is big news for the employees. They will get the benefit of the old pension scheme. However, for this they will have to complete the August process. For this, an office memorandum has been issued by the Union Ministry of Personnel.

Will get the benefit of old pension scheme

Central employees will get the benefit of old pension scheme. For this, the last date of application has been kept till 31 August. If you want to take advantage of the old pension scheme, then the process will have to be completed by August 31. This will apply to those officers and employees who applied for the jobs advertised before December 22, 2003.

Process started in UP

The order was issued by Sanjeev Narayan, Additional Secretary, Union Ministry of Personnel. The Personnel Department of Uttar Pradesh has started working on this. The old pension scheme was discontinued from January 2004 for the government employees of the country. The same New Pension System was started.

Under NPS, 10% is deducted from the salary of the employees. The facility of GPF is also available in the same old pension. It will not be kept in the new pension. The old pension scheme has been phased out in many states. The employees have been given another chance by the Union Personnel Ministry. He will be eligible for the old pension scheme.

Select the option on 31st August

However, instructions have been given to the employees that the employees who select the option on August 31 will get the benefit of pension under NPS only and they will not get the benefit of the old pension scheme. On the other hand, if an employee chooses the old pension option, then by October 31, 2023, he will have to close the NPS and restore the old pension.

Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ informalnewz@gmail.com
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