Jaipur: There is a environment of joy among the workers of Rajasthan Chief Minister Ashok Gehlot on the execution of Old Pension Scheme in the money financial plan in Rajasthan. Every one of the workers who have been selected after 2004 in Rajasthan will be given advantages under the Old Pension Scheme.
The New Pension Scheme (NPS) was executed in 2004.
Allow us to let you know that on April 1, 2004, the government of the then Atal Bihari Vajpayee had executed the new pension scheme in other taxpayer driven organizations with the exception of Defense Services. Representatives who joined taxpayer supported organization after April 1, 2004, are being given the advantage of the new annuity plot. The public authority had not made it required for the states, yet progressively a large portion of the states had carried out the new annuity plot by their own doing.
Difference between old and new pension scheme
In the old pension scheme (OPS), there was no allowance from the salary of the worker. Simultaneously, in the new pension scheme, 10% is deducted from the salary of the worker. Alongside this, 14% offer is shared by the government. In the old pension scheme, annuity was paid to the resigned representatives from the government deposit.
Simultaneously, the new pension scheme is financial exchange put together and its installment depends with respect to the market. GPF (General Provident Fund) was accessible in the old pension scheme, however there is no GPF facility in the new plan. In the old pension scheme, about a large portion of how much compensation at the hour of retirement was gotten as annuity. Though there is no assurance of fixed annuity in the new pension scheme.
How much will be the advantage
Subsequent to getting everything after retirement, the workers going under the pension scheme get around 50% of the basic salary as annuity. Simultaneously, the advantage of augmentation, which is pertinent consistently on the state workers, is additionally accessible. Simultaneously, while in the gig, there is no derivation from the representative’s account towards annuity.
