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OPS vs NPS UPSC NOTE

 

  • OPS – Old Pension Scheme

  • NPS – New Pension Scheme

  • There are at least 9.5 lakh State employees who joined government service before November 2005 and they already enjoy the benefits of the OPS.

  • Under the scheme, a government employee received a monthly pension equivalent to 50% of their last drawn salary

  • There was no need for any contribution by employees

  • The OPS was discontinued in the State in 2005.

  • Under the NPS a State government employee contributes 10% of their basic salary plus dearness allowance, with the State making a matching contribution. 

  • The money is then invested in one of the several pension funds approved by the Pension Fund Regulatory and Development Authority and the returns are market-linked.

  • The CMO note further said that the State government employees concerned will be required to give the option to implement the OPS within a period of six months from the publication of the government’s decision.


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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: OPS vs NPS UPSC NOTE
OPS vs NPS UPSC NOTE
Learnerz IAS | Concept oriented UPSC Classes in Malayalam
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