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Jharkhand News: Old ‘pension’ scheme will be implemented in Jharkhand too, CM Soren’s big announcement, know how long it will be restored

June 27, 2022
Bharat Times

News Desk, Amar Ujala, Ranchi

Published by: Sanjeev Kumar Jha
Updated Mon, 27 Jun 2022 09:04 AM IST

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Jharkhand Chief Minister Hemant Soren made a big announcement on Sunday that the old pension scheme for the state government employees currently working in the state would be restored soon. He said that efforts would be made to restore this scheme by August 15. The old pension scheme was discontinued on 1 April 2004 and was replaced by the National Pension System (NPS). Let us inform that earlier, in the Congress-ruled states of Chhattisgarh and Rajasthan, an announcement has been made to restore the old pension scheme.

Jharkhand government sensitive towards social security of all sections: Soren
CM Soren while addressing the ‘Pension Jaighosh Mahasammelan’ organized by the state branch of the National Movement for Old Pension Scheme (NMOPS) said that the Jharkhand government is sensitive towards social security of all sections. Efforts are being made to restore the old pension scheme for state government employees by August 15. Thousands of employees under the banner of various trade unions of all the 24 districts of the state participated in this rally.

Soren gave indications only during the conclusion of the budget session of the assembly
It is worth noting that Soren had indicated the restoration of the old pension scheme on the day of the conclusion of the budget session of the Jharkhand Legislative Assembly on March 25. He had also said during that time that we are going to implement the old pension scheme very soon in the state. Soren had said that legislators of the ruling and opposition parties in the state have been demanding restoration of the old pension scheme. So now it needs to be implemented.

What is old pension system
The old pension scheme ensures a minimum guaranteed pension amount after retirement, which is not there in the new scheme. In the current pension system, employees have to contribute 10 per cent of their salary towards pension, and the state government contributes 14 per cent of the employees’ remuneration, which was not required in the old scheme.

Expansion

Jharkhand Chief Minister Hemant Soren made a big announcement on Sunday that the old pension scheme for the state government employees currently working in the state would be restored soon. He said that efforts would be made to restore this scheme by August 15. The old pension scheme was discontinued on 1 April 2004 and was replaced by the National Pension System (NPS). Let us inform that earlier, in the Congress-ruled states of Chhattisgarh and Rajasthan, an announcement has been made to restore the old pension scheme.

Jharkhand government sensitive towards social security of all sections: Soren

CM Soren while addressing the ‘Pension Jaighosh Mahasammelan’ organized by the state branch of the National Movement for Old Pension Scheme (NMOPS) said that the Jharkhand government is sensitive towards social security of all sections. Efforts are being made to restore the old pension scheme for state government employees by August 15. Thousands of employees under the banner of various trade unions of all the 24 districts of the state participated in this rally.

Soren gave indications only during the conclusion of the budget session of the assembly

It is worth noting that Soren had indicated the restoration of the old pension scheme on the day of the conclusion of the budget session of the Jharkhand Legislative Assembly on March 25. He had also said during that time that we are going to implement the old pension scheme very soon in the state. Soren had said that legislators of the ruling and opposition parties in the state have been demanding restoration of the old pension scheme. So now it needs to be implemented.

What is old pension system

The old pension scheme ensures a minimum guaranteed pension amount after retirement, which is not there in the new scheme. In the current pension system, employees have to contribute 10 per cent of their salary towards pension, and the state government contributes 14 per cent of the employees’ remuneration, which was not required in the old scheme.