The Karnataka government has issued a notification to bring around 13,000 employees under the Old Pension Scheme (OPS). These employees were initially enlisted before April 1, 2006, but their appointments occurred later. Chief Minister Siddaramaiah took to the ‘X’ social media platform on Wednesday, affirming his commitment to the government employees who were on strike against the new pension scheme.
A Promise Fulfilled
Siddaramaiah, in his post on ‘X’, reminisced about his pre-election visit to a place where employees were protesting against the New Pension System (NPS). He made a promise then, assuring that their demands would be met once in power. With this decision, he expressed hope that the families of these 13,000 NPS employees would find relief. “I trust that this resolution brings solace to all the families of the 13,000 NPS employees,” he declared.
Understanding the Old Pension Scheme
The Old Pension Scheme, which grants government employees the right to a monthly pension post-retirement, has been a crucial aspect of retirement benefits. Typically, the monthly pension after retirement equals half of the individual’s last drawn salary. This scheme was discontinued in December 2003, paving the way for a new pension scheme implemented on April 1, 2004.
Under the current pension system, employees contribute a portion of their salary to the pension fund every month. Based on these contributions, they become entitled to the full amount upon retirement.
A Welcome Move for Employees
The decision to include 13,000 employees under the OPS is a commendable step towards honoring the commitment made by Chief Minister Siddaramaiah. This move is anticipated to bring significant relief to the families of the employees who have been awaiting the restoration of the Old Pension Scheme.
Conclusion
In conclusion, the Karnataka government’s recent decision to extend the Old Pension Scheme to employees appointed before April 1, 2006, is a positive development. This move not only fulfills a pre-election promise but also addresses the concerns of government employees who were on strike against the New Pension System. The reinstatement of the Old Pension Scheme is expected to provide much-needed financial security to the families of the 13,000 employees affected by this decision.
