OPS should be implemented, centre is against it: Rajasthan CM Ashok Gehlot

Talking to ANI, Gehlot said, "I saw the remarks of Nirmala Sitharaman. She was not able to answer the question properly. Instead of giving unclear answers, she should have said clearly that they (Centre) are against OPS."

Talking about the New Pension Scheme (NPS), Gehlot said, "This is a matter of the future of the employees. We are not doing any favour on them. After 35 years of service, instead of having a secure future, should the employees be dependent on the share market?"

CM Gehlot further added, "When the NPS was implemented during the tenure of Atal Bihari Vajpayee, we all accepted it. But, once it is understood that the employees can't be left at the mercy of the share market, then the change in strategy should be made."

"I believe that OPS must be implemented and the employees must be made to believe that both the central and state government are with them in all situations," Gehlot added.

Earlier on Monday, during a post-budget press conference, Nirmala Sitharaman refused the demand of the Rajasthan government for the release of funds deposited towards the New Pension Scheme (NPS).

"I don't want to comment on the issue of the Old Pension Scheme (OPS) but the state government has promised it on its own and now expects that the fund should be released to the government," the finance minister said, adding, "It should not be expected. It is the money entitled to the employee and should be given to him only."

While under the old pension scheme (OPS), a government employee is entitled to a monthly pension after retirement. The monthly pension is typically half of the last drawn salary of the person.

Under the new pension scheme (NPS), employees contribute a portion of their salaries to the pension fund. Based on that, they are entitled to a one-time lump sum amount on superannuation.

For the record, the old pension scheme was discontinued in December 2003, and the new pension scheme came into effect on April 1, 2004. (ANI)