They demand that govt. staff be allowed to revert to the old scheme
Members of the BJP and the JD(S) on Thursday urged the State government to revert to the Old Pension Scheme (OPS) for State government employees as the New Pension Scheme (NPS) had failed to deliver the perceived benefits.
While JD(S) member K.T. Srikante Gowda raised the issue, several BJP members, including Ayanur Manjunath and Y.A. Narayanswamy, also urged the government to return to the old scheme.
Economic downturn
Mr. Gowda said that since 2006 when the New Pension Scheme was implemented in Karnataka after it was approved in Parliament, a large number of government employees had shifted to it as they were promised lucrative returns. “However, owing to economic downturn and a host of other reasons, the returns have been very poor. The NPS has failed to protect the post- retirement welfare of government employees and now employees want to return to the Old Pension Scheme,” he said.
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