There has been a persistent demand to revive the Old Pension Scheme (OPS) nationwide, and now, there’s some good news for those interested.
The Central Government has provided an opportunity to choose the old pension scheme, but only a select few will be eligible.
Deadline until November 30, 2023
Employees now have until November 30, 2023, to make their choice regarding the old pension.
This decision has been taken by the government,ut it will only benefit a limited number of employees.
The Government bspecifies that only members of the service meeting eligibility criteria can exercise this option.
Those who fail to select the old pension scheme by the due date will automatically be moved to NPS (New Pension Scheme).
Information from DoPT
The Department of Personnel and Training (DoPT) clarifies that this order will continue until January 31, 2024, for AIS (DCRB) fulfilling the conditions of coverage under Rules, 1958.
Subsequently, the NPS accounts of such individuals will be closed by March 31, 2024.
Eligible service members can choose the Old Pension Scheme under the AIS Rules, 1958, and they must also become members of GPF (General Provident Fund).
Eligibility for Opting Old Pension
Only a limited number of employees will be able to benefit from the old pension scheme.
DOPT confirms that those individuals who cleared the Civil Services exam in 2003, 2004, or the Indian Forest Service exam in 2003 will be covered under this scheme.
Additionally, any employee selected or employed by the Central Government before joining AIS, and covered under the CCA Rules, 1972, or any general rule, can also choose the Old Pension Scheme.
According to a government notification issued on July 13, those appointed before the implementation of NPS but later brought into the new pension system will now be eligible for the old pension scheme.
The Department of Personnel and Training (DoPT) officials have disclosed that a notification was released, providing detailed information about the Old Pension Scheme and its benefits.