Old pension scheme likely to be rolled out by August 15 in Jharkhand: CM Hemant Soren

Jharkhand Chief Minister Hemant Soren on Sunday announced that the old pension scheme is likely to be rolled out by August 15 for state government employees who are working at present. The old pension scheme was discontinued on April 1, 2004, and replaced by the National Pension System (NPS).

"The Jharkhand government is sensitive towards social security of all sections. Efforts are being made to restore the old pension scheme for state government employees by August 15," Soren said while speaking at the 'Pension Jaighosh Mahasammelan' organised by the state wing of the National Movement for Old Pension Scheme (NMOPS) here.

Thousands of employees under banners of different workers' unions from all the 24 districts of the state took part in the rally.

Soren had hinted at the restoration of the old pension scheme on the concluding day of the budget session of the Jharkhand Assembly on March 25.

"We are going to implement the old pension scheme in the state very soon," he had said in the assembly.

Legislators of ruling and opposition parties in the state have been demanding restoration of the old pension scheme.

The state members of NMOPS said there are several benefits of the old pension scheme.

The old pension scheme ensures a minimum guaranteed pension amount after retirement, which is absent in the new scheme. Besides, in NPS, employees have to contribute 10 per cent of their salary towards pension, and the state government contributes 14 per cent of the staffer's remuneration towards it, which was not required in the old scheme, they said.