Demand for restoration of Old Pension Scheme
Why in the News?
Thousands of Central govt. and Central PSU employees staged a protest rally in Delhi seeking for the restoration of the Old Pension Scheme.
The Old Pension Scheme:
New Pension Scheme (NPS):
Why there was a shift from OPS to NPS?
For instance, Himachal Pradesh spends almost 80% for pensions as a percentage of the state’s own tax revenues.
Why Employees are protesting against NPS?
Link: Govt. staff seek restoration of old pension scheme (thehindu.com)