Karnataka govt announces to implement Old Pension SchemeTop Stories

January 25, 2024 22:18
Karnataka govt announces to implement Old Pension Scheme

(Image source from: Twitter.com/CMofKarnataka)

The Karnataka government has officially released a notification to bring approximately 13,000 state government workers under the Old Pension Scheme. These employees were hired after 2006, and Chief Minister Siddaramaiah affirmed his commitment to this demand during a strike by government employees against the new pension scheme. "We have issued an order to include around 13,000 state government employees hired after 2006 in the old pension scheme. Even before the election, I visited the place when NPS employees were on strike and promised to fulfill this demand once we came into power," said the Chief Minister. He further added, "I hope this decision brings relief to the families of all 13,000 NPS employees."

The Old Pension Scheme ensures that government employees receive a monthly pension after retirement, usually half of their last salary. On the other hand, the New Pension Scheme requires employees to contribute a portion of their salaries to a pension fund, resulting in a lump sum payment upon retirement.

The date of implementation was April 1, 2004. The Chief Minister of Karnataka also criticized the central government, stating that it did not fulfill its promise of providing two crore jobs annually. Siddaramaiah, after inaugurating a project to fill 150 lakes and ponds in 79 villages in Periyapatna taluk from the Cauvery River at Muthtinamulusoge on Wednesday, January 24, expressed disappointment that Prime Minister Narendra Modi did not deliver on his commitment to create 20 crore jobs in ten years.

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