Workers In Federal Government Would Like ‘Original’ Pension Plan Reinstated; Read Story!
Unions representing Group B and Group C workers have complained to the cabinet secretary that the National Pension Scheme is a nightmare for retirees. The Old Pension Scheme (OPS) has been requested to be reinstated by a federation of unions representing Union government employees in a letter to the cabinet secretary. According to The Hindu, they said that the National Pension System (NPS) is a catastrophe for retirees. NPS workers contribute 10% of their pay per month for their whole service, yet their pension is far lower than OPS workers'. "The pension under NPS stays unchanged and there is no Dearness Relief to replace the price rise /inflation as offered in the OPS," states the letter signed by the Joint Consultative Machinery, an umbrella union for Group B and Group C worke...
Read More
