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Gehlot government’s old pension scheme plan stuck in Delhi, know where the screw got stuck

New Delhi: Keeping in view the interest of five and a half lakh employees, the Rajasthan Government has decided to implement the Old Pension Scheme again. From 1st April 2004, the then Central Government closed the old pension scheme and implemented the new pension scheme ie NPS. Employees are not getting security guarantee in the new pension scheme. Therefore, Rajasthan Chief Minister Ashok Gehlot decided to re-implement the old pension scheme from this financial year in the state. But his plan got stuck after coming to Delhi. The reason is that the Center does not pay for Rs.39 thousand crores.

In fact, the state government had appealed to the central government to withdraw Rs 39,000 crore from the contribution of the Rajasthan government and employees in the National Pension System (NPS) under the New Pension Scheme since 2004. But the Pension Fund Regulatory and Development Authority of India (PFRDA) has categorically refused to return this 39 thousand crore rupees. The purpose of the Rajasthan government behind implementing the old pension scheme is to provide assured income after retirement to the employees. The Rajasthan government had also announced that it would withdraw the money that has been contributed to the NPS since 2004 and transfer it to the General Provident Fund. This will allow state government employees to access that money at the time of retirement.

‘No provision for refund’
Taking steps towards implementing the old pension scheme, the Rajasthan government did not deduct the contribution from the salary of the employees in March and April. Finance (Expenditure) Secretary Naresh Kumar Thakral said in a letter to PFRDA, “Therefore, it is requested that Rs 39,000 crore going to the NPS from the contribution of the Government of Rajasthan and the employees from the year 2004 to the State Government as Revenue Receipt. But be deposited back. After this the state government received a letter on May 2, in which its request was rejected. Pradipto Chatterjee, Assistant General Manager, PFRDA, wrote that there is no such provision available under which the government contribution already made for NPS and the money deposited as contribution of employees is given to the state government as revenue receipt. can be returned.

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