Expansion
The demand for the restoration of old pensions in the central government is growing. Efforts have begun to bring more than three million people together on one platform. The goal of all this is the abolition of the national pension scheme, ie the “NPS”. The central government should start again granting the benefits of the “old pension system”. Sreekumar, a member of the National Council of Staff (JCM) and general secretary of the All India Defense Employees Federation “AIDEF,” says the central government deceived staff by abolishing the old pension. In the NPS, if a worker retires after 25 years of service, he will receive a pension of two to four thousand rupees. In the old pension system, at the time of retirement, the worker received 50% of the last basic salary, to which was added a reduction in the high cost. A large number of personnel associated with the defense industry will reach Jantar Mantar in New Delhi on 26 September. In addition to this, a memorandum will be delivered to the country’s 436 defense units on September 22 on behalf of Dr. Jitendra Singh, Minister of State Defense, Department of Personnel and Training.
The NPS has been in place for 18 years
AIDEF secretary general, Sreekumar, said: “Thousands of people are being manipulated by the central government. In 2004 the old pension system was abolished and replaced by the NPS. Apart from the army, the pension system has been blocked in the other departments. Last year, the government decided to sell public sector defense companies into private hands. The over two hundred year old artillery factories were transformed into seven companies. Today four-year-old “Agniveer” is recruiting into the army.
Sreekumar says there is a lot of anger in all central government departments on the NPS. Workers suffer huge financial losses as a result of this. Their social security was also not guaranteed. After retirement, civil servants are deliberately forced to suffer. It has been 18 years since the NPS was founded. If an employee involved in this scheme retires, he receives a pension of only three or four thousand rupees. In the old pension system, after retirement, the worker received 50% of his basic salary in the form of a pension. There were other benefits as well. Reduction in inflation has also been added. There is none of this in NPS. An advance of 40% can be taken with the old pension system. After 15 years, 40% of the pension is returned. NPS is a market based system. In this, the economic profit is low, while the loss is high, because there is always a margin of risk in the market.
Increase in pension by 20% after the age of 80
In the old pension system it is foreseen that if the retiree is over 80, his pension increases by twenty percent. If someone lives to be 100, he gets the same pension as the base salary. A while ago, a parliamentary committee recommended raising the pension by 5% until the age of 65. After that, if the pensioner is over 70, his pension should be increased again by 5%. After 80 years there was talk of increasing the pension by 20%. This was done because the lifespan of many people rarely reaches 80 years. The West Bengal government has not implemented the full-fledged NPS. The old pension system is working there. Today the old pension system has also been implemented in Jharkhand, Chhattisgarh and Rajasthan. Military personnel across the country will alert the central government during a protest in Jantar Mantar on September 26. After that, there will be an uproar against the Center coordinating with other departments. If the central government doesn’t implement the old pension system now, it will have to bear the brunt of the 2024 Lok Sabha election.
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