Roadways implements OPS for its employees

Jaipur: Rajasthan State Road Transport Corporation (RSRTC) has issued an order to implement Old Pension Scheme (OPS) for its employees. Employees who have resigned from their posts and those expelled or removed from their jobs will not be eligible for OPS, said he order.
Employees who wish to opt for OPS will have to apply by June 30, or else they would be considered members of the CPF scheme, according to the order. For family pension, family members of deceased employees can also apply for OPS, it added. The state’s finance department had earlier issued an order to implement OPS for employees working in boards, corporations, autonomous, semi-autonomous bodies, and universities (set up on or after January 1, 2004).
“The contributions will be done as per the pattern of the universities (12% each of employer’s share and employee’s share). The employer’s share will go to the pension fund and the employee’s share will go to the GPF fund,” a finance department official said.