Himachal cabinet nod to implementation of Old Pension Scheme from April 1

The Himachal Pradesh Cabinet on Friday decided to implement the Old Pension Scheme (OPS) from April 1 in the state. The cabinet, presided by Chief Minister Sukhvinder Singh Sukhu, gave its nod to the implementation of the OPS which would put a burden of Rs 1,000 crore on the state exchequer.

The cabinet also approved the repealing of Himachal Pradesh Loktantra Prahari Samman Adhiniyam, 2021, and Himachal Pradesh Loktantra Prahari Samman Niyam, 2022, providing a monthly pension of Rs 11,000 per month to persons who were jailed during the Emergency, a government statement said.

The cabinet decided that the employees will also be brought under the ambit of General Provident fund (GPF).

The employees under the New Pension Scheme (NPS), who have retired after May 15, 2003, will be given OPS from the prospective date. The decision would put a burden of Rs 1,000 crore on the state exchequer during 2023-24 financial year.

Sukhu said the decision has been taken after making necessary amendments in the rules.

The contribution towards NPS by the government and the employees would stop from April 1, 2023. If any employee wants to opt for NPS, he/she can give Consent to the government, he said. The cabinet has passed a resolution, asking the Union Government to return an amount of Rs 8,000 crore under the NPS to the state and asked the state Finance department to amend the rules and issue necessary instructions in this regard.