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The Karnataka government has released a notification covering over 13,000 state employees hired after 2006 under the Old Pension Scheme. Taking to X handle, CM Siddaramaiah said that he had promised to fulfill this demand to the government employees when they were on a strike against the new pension scheme.
The Karnataka government has issued a notification encompassing over 13,000 state employees hired after 2006, bringing them under the ‘Old Pension Scheme.’ Chief Minister Siddaramaiah announced this development on social media, highlighting his commitment to fulfilling the demand made by government employees during their strike against the new pension scheme.
In his post on the ‘X’ handle, CM Siddaramaiah stated that even before the election, he visited the place when National Pension System (NPS) employees were on strike and assured them of addressing their demand after coming to power. The announcement has brought comfort to the families of 13,000 NPS employees, ensuring that they will now be covered under the old pension scheme.
Under the old pension scheme, government employees are entitled to a monthly pension after retirement, typically amounting to half of their last drawn salary. In contrast, the new pension scheme requires employees to contribute a portion of their salaries to the pension fund, leading to a one-time lump sum amount on superannuation. The new pension plan was implemented on April 1, 2004, replacing the previous scheme, which was discontinued in December 2003.
