Old Pension Scheme
Pension scheme in India
Old Pension Scheme ▸ Facts ▸ Comments ▸ News ▸ Videos
Old Pension Scheme (OPS) in India was abolished as a part of pension reforms by Union Government. Repealed from 1 January 2004, it had a defined-benefit (DB) pension of half the Last Pay Drawn (LPD) at the time of retirement along with components like Dearness Allowances (DA) etc. OPS was an unfunded pension scheme financed on a pay-as-you-go (PAYG) basis in which current revenues of the government funded the pension benefit for its retired employees. Old Pension Scheme was replaced by a restructured defined-contribution (DC) pension scheme called the National Pension System.
| 0 shares | ShareTweetSavePostSend |
You Might Like
Maharashtra cabinet nod for OPS to state employees who joined service after November 2005Maharashtra cabinet approves proposal for Old Pension Scheme (OPS) to government employees who joined after November 2005; OPS offers monthly pension equivalent to 50% of last drawn salary without..IndiaTimes - Published | |
Decision on Old Pension Scheme in the budget session: Maharashtra chief minister Eknath ShindeChief Minister Eknath Shinde announced that a decision on reverting to the Old Pension Scheme (OPS) will be made during the budget session in March. The government received the report of the Subodh..IndiaTimes - Published | |
BJP in Rajasthan accuses CM Ashok Gehlot of violating poll code, files complaintThe BJP on Wednesday filed a complaint with the Election Commission of India alleging that Rajasthan Chief Minister Ashok Gehlot's announcement of "seven guarantees" ahead of the November 25 assembly..IndiaTimes - Published | |
Will buy cow dung, gift laptops: Rajasthan CongressThe Congress' pledges to Rajasthan voters expanded to seven on Friday, following CM Ashok Gehlot's recent announcement of two women-centered initiatives. These fresh commitments encompass enacting a..IndiaTimes - Published | |
OPS, laptop for college students, English medium schools among Rajasthan CM's 5 guaranteesRajasthan Chief Minister Ashok Gehlot on Friday announced five guarantees for the people of the state, including a law on Old Pension Scheme, buying cow dung and providing a laptop or a tablet to..IndiaTimes - Published | |
Old Pension Scheme: Maharashtra government employees on strike to seek restoration of OPSThe employees resorted to the strike after the talks between the unions and the state government failed on Monday.DNA - Published | |
Karnataka team to visit Rajasthan to study old pension plan implementationA team from Karnataka comprising three officers will visit Rajasthan to learn about the implementation of the Old Pension Scheme (OPS). The committee is expected to reach the state on March 25. It is..IndiaTimes - Published |
