Amid the election atmosphere in the country, many promises and issues are coming to the fore. The matter of the old pension scheme has also been heated in the elections from Himachal Pradesh to Gujarat. Congress is promising to implement the old pension. Along with this, there is a demand for the re-implementation of this pension scheme in many states. Meanwhile, Praveen Chakraborty, head of Congress's data analytics department, has explained the disadvantages of the old pension system.
Praveen Chakraborty tweeted that out of 6.5 crores (65 million) people in Gujarat, about 3 lakh people are in government service and the old pension scheme will cost the government about 15% of its tax revenue. He has questioned why should 0.5% of people get 15% of all taxpayer's money as a pension after retirement.
Let us tell you that the old pension scheme has become a big issue in the Gujarat assembly elections, for which there is a constant demand for its restoration. The Congress has promised to re-implement the old pension scheme after winning the Gujarat assembly elections. The total number of government employees in the state is around 10 lakh. This is a huge number for which all political parties are trying to get their support.
What is the old pension scheme?
In the old pension scheme, a fund is given to the employees after retirement. The old pension scheme was abolished by the Vajpayee government in the year 2003. After which, from April 1, 2004, the National Pension Scheme was implemented in place of this old pension scheme.
In the old pension scheme, after the retirement of the government employee, 50 percent of his salary and dearness allowance or the salary of the last 10 months of the job was given as a pension. In the old pension scheme, after retirement, the pension of the employee was fixed based on the last basic salary and inflation rate. Not only this but in this scheme, no deduction was made from the salary of the employee for the pension he would get after retirement.
Although the employee needed to work for 10 years. In the old pension scheme, the amount of gratuity of the employee was fixed up to Rs 20 lakh, which the employee received during retirement. Along with this, in this scheme, a pension was given to the employees from the treasury or treasury of the government.
On the death of the employee during the job, his family used to get the pension. General Provident Fund (GPF) was also given in this scheme. In this, dearness allowance was also added after every 6 months, which was implemented by the Pay Commission. Due to this the pension of the employee also used to increase from time to time.
What is New Pension Scheme NPS?
This scheme was implemented by the NDA government on 1 April 2004. Under this scheme, the employee is given the amount that is accumulated during his job in the form of a pension after retirement. That is while doing the job, 10% is deducted from the basic salary of the employee, and 14% contribution is given by the state government. This entire amount is deposited with the pension regulator PFRDA. And during retirement, the employee is given a pension.
Under the new pension scheme, employees can also invest their money and can also withdraw a part of the pension amount after retirement. In this, an employee can make anyone a nominee, and if the employee dies during the job, then the nominee gets all his money.
Along with this, General Provident Fund is not given in the new pension scheme, while this facility was there in the old scheme. In the new scheme, the payment is made to the employee based on the movement of the stock market and there is no fixed amount after retirement.
Also, there is no permanent provision of gratuity for the employee in this scheme. In this, if the employee dies, the family gets a pension, but the amount deposited in the scheme is confiscated by the government.
Along with this, no income tax has to be paid on the interest of GPF received in the old pension scheme, but in the new pension scheme, the tax will have to be paid on the amount that will be received at the end of the basis of the stock market.
Due to these differences in both schemes, employees in all the states are demanding the restoration of old pensions. A campaign is being run at the national level regarding this. National Movement for Old Pension Scheme NMOPS says that there is no benefit in the new pension scheme. There is no good pension facility for employees after retirement.
Employees say that due to this there is no financial security for the employees working in different government sectors.
Regarding all these things, the employees are demanding to implement the old pension. In such a situation, political parties are working to capitalize on this protest in the election environment. After coming to power in Gujarat assembly elections after Himachal, Aam Aadmi Party as well as Congress have promised to implement the old pension scheme. So that the parties can get the support of lakhs of government employees who are demanding to restore of this old scheme.
During the Himachal Pradesh assembly elections, Congress raised the issue of old pensions loudly. On behalf of the Congress, Priyanka Gandhi Vadra has promised in her election rallies in Himachal that if the Congress government comes to power in the state, she will restore the old pension scheme.
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