Rajasthan NPS-OPS: There is a dilemma among the many authorities staff of Rajasthan concerning the National Pension Scheme (NPS) and Old Pension Scheme (OPS) as to what resolution the Rajasthan authorities will take. However, the Bhajanlal authorities of Rajasthan has given large reduction to the staff of the state earlier than Diwali. At the identical time, after this resolution, it is usually being stated that there’s each risk that the federal government won’t abolish OPS. This is as a result of a letter has been issued by the Finance Department on Friday (October 4).
Actually, the Rajasthan authorities has stated that the state staff who’ve withdrawn cash below NPS. They won’t should deposit that cash at current. The quantity withdrawn shall be adjusted throughout retirement. After this order of the federal government, it’s being stated that there’s a higher risk of OPS being carried out in Rajasthan.
What did the Finance Department say within the letter
In the round issued by the Rajasthan Finance Department, it has been stated that the staff who have been appointed on or after January 1, 2004 and had withdrawn the quantity below NPS. They are given flexibility to deposit their withdrawn quantity (i.e. there’s a ban on depositing the quantity). This quantity shall be calculated and adjusted as per guidelines on the time of retirement.
It can also be made clear that even after the difficulty of this round, if the personnel appointed on or after January 1, 2004, apply for withdrawal of quantity below NPS, then the involved personnel shall be required to adjust to the Rajasthan Civil Service (Pension) Rules, Will not be thought-about eligible below 1996 and won’t get the good thing about the previous pension scheme.
After this resolution of the federal government, it’s being stated that the Rajasthan authorities has given a giant sign concerning the implementation of OPS. In such a state of affairs, OPS can stay restored within the state.
Also learn:- What is the distinction between the previous and new pension scheme, in any case, which of the 2 is best?
