New Delhi. These days the discussion regarding Old Pension Scheme (OPS) is intense among central employees and people related to pension. After re-implementation of OPS by some state governments, it was hoped that the Central Government could also take steps in the same direction. However, now the position on this issue has been clarified by the Finance Ministry.
Central government refused to withdraw OPS
In response to questions asked in Parliament, Minister of State for Finance Pankaj Chaudhary clearly said that at present the Central Government has no proposal to re-implement the old pension scheme for central employees. He told that OPS was a system in which the entire responsibility of pension after retirement was on the government and the pension amount increased as per the recommendations of the Pay Commission.
The Central Government abolished OPS from January 1, 2004 and implemented National Pension System (NPS), which is a contribution based system. In this, both the employees and the government contribute to the pension fund and the amount received on retirement depends on the market performance.
New option through UPS
The Finance Ministry also informed that the Unified Pension System (UPS) was launched in April 2025, which is considered to be an attempt to create a balance between OPS and NPS. A minimum monthly pension of Rs 10,000 is guaranteed under UPS. Employees associated with NPS were given the option to go to UPS and return to NPS if needed, the last date of which was fixed as 30 November 2025.
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