old pension scheme in karnataka:Meeting a longstanding demand, the State government on Wednesday issued a notification to bring a part of government employees to a defined pension scheme (old pension scheme) from the existing new pension scheme. An estimated 11,300 employees will be eligible to go into the defined pension scheme from the new pension scheme.
Karnataka government has issued a notification to cover about 13,000 state government employees, recruited after 2006, under the Old Pension Scheme.
Taking to X, Chief Minister Siddaramaiah said that he had promised to fulfil this demand to the government employees when they were on a strike against the new pension scheme.An order has been issued to cover the old pension scheme to about 13,000 government employees of the state government recruited after 2006. Even before the election, I visited the place when the National Pension System (NPS) employees were on strike and promised to fulfil the demand after we came to power,” he posted on X on Wednesday.
karnataka old pension scheme
Under the old pension scheme, a government employee is entitled to a monthly pension after retirement. The monthly pension is typically half of the last drawn salary of the person.
Under the new pension scheme, employees contribute a portion of their salaries to the pension fund. Based on that, they are entitled to a one-time lump sum amount on superannuation.
The old pension scheme was discontinued in December 2003, and the new pension scheme came into effect on April 1, 2004.The Karnataka government Wednesday issued a notification to bring about its 13,000 employees, who were notified before April 1, 2006 but were appointed at a later date, under the Old Pension Scheme.
old pension scheme in karnataka
Before the election, I visited the place where the employees were on a strike against the NPS and promised them to fulfil the demand after we come to power. I hope this decision has given comfort to all the families of 13,000 employees under NPS,” he said.
Under the old pension scheme, a government employee is entitled to a monthly pension after retirement. The monthly pension is typically half of the last drawn salary of the person.
Under the new pension scheme, employees contribute a portion of their salaries to the pension fund. Based on that, they are entitled to a one-time lump sum amount on superannuation.The old pension scheme was discontinued in December 2003, and the new pension scheme came into effect on April 1, 2004.