Starting 1 April 2023, Himachal Pradesh will reinstate the Old Pension Scheme, leading to approximately 1.36 lakh employees being exempted from deductions under the National Pension Scheme.
The Chief Secretary issued a notification on Monday stating that the OPS will be implemented as per the Cabinet decision. From 1 April 2023, the contributions of state government employees (employee's and employer's share) under the NPS will cease.
The Congress promised to restore OPS in Himachal Pradesh during the 2022 assembly polls and the Cabinet made a decision about it on 13 January 2023.
According to the Congress-led government, this decision would benefit both serving and retired employees and the employees with 20 years of service or more would get 50 per cent of basic salary and DA as pension.
The Old Pension Scheme had been discontinued from January 2004, and all government employees who joined the service after that date were enrolled under the National Pension System.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.