Old pension scheme Restoration 2024

The central government approved a new pension scheme in 2004 and after that employees are getting pensions according to the provisions in the new pension scheme. Employees who get the benefit of the old pension scheme have to face loss in this scheme as the new pension scheme- NPS is based on contribution. The amount employees contribute for each month will be provided after retirement in the new pension scheme 2024. But if employees compare the new pension scheme with the old pension scheme, then Ops was based on the Benefit pension scheme employees were getting tension according to the last salary at the time of retirement.

However old pension scheme was provided only for those employees who are working with the Central or state government, while the new pension scheme invites all private employees to contribute to NPS so they will also get a pension after retirement. However, Government employees have hope from the government and the Supreme Court to restore the old pension scheme before the Indian Parliamentary election of 2024.

Central Government employees are still motivated to implement all pension schemes as the Supreme Court of India is also asking for a Notice from the government about all pension schemes. Some states in India are providing pensions to their state employees according to the old pension scheme which is very beneficial for employees, but it is increasing the financial burden on the government so the Central government is still continuing the new pension scheme. If you are also a government employee and want to get the old pension scheme back then you should read this article where we have added the latest judgement of the Supreme Court for the old pension scheme.

The Supreme Court of India has upheld the Delhi High Court’s judgement that directed the Central Government to restore the Old Pension Scheme (OPS) for Central Government employees. The Supreme Court in India has also asked the Central Government to apply within four weeks to explain why the OPS should not be restored. SCI has listed the matter for further hearing in February 2024. The Central Government has said that it will abide by the Supreme Court’s order and file an application within the stipulated time frame. The All India State Government Employees Federation (AISGEF) has Notified that it is optimistic that the Supreme Court will restore the OPS for all government employees.