Punjab CM Bhagwant Mann preparing to implement old pension scheme, Arvind Kejriwal said – very good

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Nevertheless, specialists and economists stated that restoring the previous pension scheme can be a disastrous transfer for the state, even when it fills the coffers for a while. He stated that implementing OPS is not going to be simple. Beneath the Nationwide Pension Scheme (NPS), workers contribute 10 per cent of their wage to the pension fund whereas the federal government pays 14 per cent. After this the quantity is deposited with the Pension Fund Regulatory and Growth Authority (PFRDA). If the federal government goes forward and implements the OPS, it should withdraw the cash from the authority, nevertheless, the fund is protected by a lock-in interval. Whether it is withdrawn earlier, the approval of the authority is required which couldn’t be simpler.

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