Regarding the old pension scheme, the government has said that its deadline will not be extended now. Let us tell you that on Wednesday, 7 August, the government has clearly said that those government employees who have missed the deadline under the old pension scheme, they will have to continue with the new pension scheme.
Therefore, the time period of the old pension is not going to be extended now. So all the pension holders will now have to adopt NPS. Let us tell you that the employees who want to join the Old Pension Scheme cannot do so now.
If you also want to know about OPS, then today’s post can help you a lot. In this article, we have highlighted all the important aspects of the Old Pension Scheme. In this way, if you are waiting for the extension of the time limit of the old pension scheme, then read this article completely.
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Government’s response to the extension of OPM deadline
If you are an employee who has missed out on the benefits of the Old Pension Scheme, then you will now have to stick to the New Pension Scheme. For information, let us tell you that the government has announced that the time period for government employees to switch from the National Pension Scheme to the Old Pension Scheme will not be extended.
Here we would like to inform you that the Central Government has made this announcement on 7th August 2024. In this way, a new pension scheme has been introduced for the recruitment of services under the Central Government from 1st January 2004. Under this, NPS has been implemented for all other services except the armed forces.
the time period has expired
If the government employees of the country want to get pension under the Old Pension Scheme, then now the time has passed. Here we tell you that the court had also taken its important decision regarding the old pension scheme. Along with this, some instructions regarding OPS were also announced by the Pensioner Welfare Department on 3 March 2023.
So, according to this order, the employees who were recruited for the posts before the announcement of the National Pension Scheme on 22 December 2003 had the option of going to OPS. Along with this, the civil employees of the Central Government were also given the opportunity to go back to the Old Pension Scheme under the Pension Rules 1972 which is now 2021.
Thus, the time period to select this option has expired on 31 August 2023. After this, all the options were reviewed again and then there was time till 30 November 2023 to go back to OPS, which has now passed.
In this way, Union Minister Jitendra Singh has also given a clear written answer in the Lok Sabha regarding the extension of the time period of the Old Pension Scheme. In his reply, the Union Minister has said that the government no longer has any proposal to issue any further order regarding the order of March 3, 2023. Therefore, now the time limit of the Old Pension Scheme will not be extended.
Employees will now have to adopt NPS
Those government employees who have retired and are giving pension benefits will now have to follow the National Pension Scheme instead of the Old Pension Scheme. Actually, the time period for going back to the old pension scheme has ended.
In such a situation, the employees who have missed the deadline will now have to continue with NPS. In this way, employees do not get a fixed pension in the National Pension System. Rather, under this, the pension benefit is given according to the fluctuations in the market. This benefit can sometimes be more and sometimes less.
Therefore, the benefits and other things available in the old pension scheme are different from the National Pension Scheme. Through NPS, pension is given according to the rise and fall in the stock market. Therefore, those government employees who have missed the old pension scheme will now get pension benefits under NPS.
My name is S. Koli, and I am an experienced operator at the Jan Sewa Kendra (CSCs). For the past 7 years, I have been working on online form filling and providing the latest information about government jobs and schemes to the general public. Currently, I am working with platforms like SDSCW-JP and others.
