State of Chhattisgarh to reinstate an old pension scheme

In his Budget statement, Chhattisgarh Chief Minister Bhupesh Baghel announced the government’s plan to revert to the old pension scheme (OPS) for state employees and quadruple the monthly MLA local area development money. He carried the Budget papers in a cow dung powder briefcase.

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KEY POINTS:

• Over three lakh individuals who started work after January 1, 2004 will profit from the change. It will not, however, apply to members of the All India Services, such as the Indian Administrative Service and the Indian Police Service.
• The fundamental distinction between the two pension systems is that, while an employee must make a voluntary contribution to their pension by deducting 10% of their basic income and dearness allowance, there is no such deduction under OPS.
• The Chief Minister proposes in this Budget to restore the former pension programme for government employees.
• The Chhattisgarh Rojgaar Mission will be given a sum of 2 crore to work on the prospects of creating new jobs through coordinating skill development programmes.

Important Takeaways For All Competitive Exams:

• Chhattisgarh Chief Minister: Bhupesh Baghel

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