Old photo. Used for indicative purpose only.

Shimla, March 3

The OPS to be implemented from new financial year in HP. In a Cabinet meeting held here today it was decided to implement the Old Pension Scheme (OPS) to benefit 1.36 lakh employees. “Those new, who will be appointed in the Government service in future will also be brought under the ambit of  the OPS,” stated a state government spokesperson. Chief Minister, Thakur Sukhvinder Singh Sukhu, presided over the meeting, they informed.
It was decided that these employees will also be brought under the ambit of GPF and those employees under New Pension Scheme (NPS), who have retired after 15 May, 2003, will be given OPS from the prospective date.
It was decided that after necessary amendments in the rules, the contribution by the government and the employees under NPS will stop from 1st April, 2023. No deductions would be made from the employees from their salary under NPS from 1st April, 2023. If any employee wants to be governed under NPS, he can give his consent to the Government for the same.
The Government will spend an additional amount of Rs. 1000 crore in the fiscal year 2023-24 on the implementation of OPS. The cabinet has also passed a resolution to be sent to the Union Government to return an amount of Rs. 8000 crore under the NPS, to the state.
The Cabinet has asked the Finance Department to amend the rules and issue necessary instructions in this regard.

Noteworthy, that the Congress party formed government in the State riding on the promise of implementing Old pension scheme. It was in the first cabinet meeting, that the Sukhvinder Singh Sukhu led government has decided to implement, the scheme.


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