{"id":4335,"date":"2025-08-11T10:23:02","date_gmt":"2025-08-11T10:23:02","guid":{"rendered":"https:\/\/tezgyan.com\/index.php\/2025\/08\/11\/no-proposal-under-consideration-to-restore-old-pension-scheme-fm-nirmala-sitharaman-economy-news\/"},"modified":"2025-08-11T10:23:02","modified_gmt":"2025-08-11T10:23:02","slug":"no-proposal-under-consideration-to-restore-old-pension-scheme-fm-nirmala-sitharaman-economy-news","status":"publish","type":"post","link":"https:\/\/tezgyan.com\/index.php\/2025\/08\/11\/no-proposal-under-consideration-to-restore-old-pension-scheme-fm-nirmala-sitharaman-economy-news\/","title":{"rendered":"No Proposal Under Consideration To Restore Old Pension Scheme: FM Nirmala Sitharaman | Economy News"},"content":{"rendered":"


\n<\/p>\n

\n

Last Updated:<\/span>

Finance Minister explains that the government had moved away from old pension scheme (OPS) due to its “unsustainable fiscal liability on the government exchequer”.<\/h2>\n
\n
\n
\n
\n
\"font\"<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
\"Finance<\/p>\n

Finance Minister Nirmala Sitharaman. (File Photo: PTI)<\/p>\n<\/figure>\n

Finance Minister Nirmala Sitharaman on Monday told Parliament that the government is not considering bringing back the Old Pension Scheme (OPS) for central government employees who are covered under the National Pension System (NPS).<\/p>\n

\u201cThere is no proposal under consideration of the Government of India for restoration of Old Pension Scheme (OPS) in respect of central government employees covered under National Pension System (NPS),” Sitharaman said in a written reply in the Lok Sabha.<\/p>\n

The finance minister explained that the government had moved away from OPS due to its \u201cunsustainable fiscal liability on the government exchequer”.<\/p>\n

What is NPS?<\/strong><\/p>\n

NPS is a defined contribution-based pension scheme introduced for central government employees\u2014except those in the armed forces\u2014who joined service on or after January 1, 2004.<\/p>\n

To improve pensionary benefits for these employees, the government had set up a committee under the then Finance Secretary to recommend modifications to the NPS. Based on its discussions with stakeholders, the Unified Pension Scheme (UPS) was introduced as an option within the NPS framework \u201cwith the objective of providing defined benefits after retirement to the central government employees covered under the NPS,” Sitharaman said.<\/p>\n

She added that the features of UPS, including the definition of family, were designed to ensure \u201cpayment of assured payouts while also maintaining fiscal sustainability of the fund.”<\/p>\n

Unified Pension Scheme Features<\/p>\n

Employees opting for UPS under NPS will also be eligible for benefits under the CCS (Pension) Rules, 2021 or CCS (Extraordinary Pension) Rules, 2023, in cases of death during service, or discharge due to invalidation or disablement.<\/p>\n

The government formally notified UPS on January 24, 2025. Under the scheme, an assured payout on retirement is set at 50 per cent of the twelve-month average basic pay immediately prior to retirement, provided the employee has a minimum of 25 years of qualifying service.<\/p>\n

For those with fewer than 25 years of service, the payout will be proportionately reduced, she said.<\/p>\n

(With PTI Inputs)<\/strong><\/em><\/p>\n

\n
\n
<\/p>\n
\"authorimg\"<\/figure>\n

<\/span><\/p>\n

Business Desk<\/a><\/p>\n

A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More<\/span><\/p>\n<\/div>\n<\/div>\n

A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More<\/span><\/p>\n<\/div>\n<\/div>\n

Stay updated with all the latest business news, including\u00a0market trends<\/a>,\u00a0stock updates<\/a>,\u00a0tax<\/a>, IPO,\u00a0banking finance<\/a>, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates\u2014only on News18. Also\u00a0Download the\u00a0News18 App<\/a>\u00a0to stay updated!<\/span><\/div>\n

view comments<\/span><\/p>\n

News<\/a> business<\/a> \u00bb economy<\/a> No Proposal Under Consideration To Restore Old Pension Scheme: FM Nirmala Sitharaman<\/span><\/div>\n
\n
\n
Disclaimer: Comments reflect users\u2019 views, not News18\u2019s. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use<\/a> and Privacy Policy<\/a>.<\/div>\n<\/div>\n<\/div>\n

Read More<\/span><\/p>\n<\/div>\n


\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Last Updated:August 11, 2025, 15:42 IST Finance Minister explains that the government had moved away from old pension scheme (OPS) due to its “unsustainable fiscal liability on the government exchequer”. Finance Minister Nirmala Sitharaman. (File Photo: PTI) Finance Minister Nirmala Sitharaman on Monday told Parliament that the government is not considering bringing back the Old…<\/p>\n","protected":false},"author":1,"featured_media":4318,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[],"class_list":["post-4335","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/posts\/4335","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/comments?post=4335"}],"version-history":[{"count":0,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/posts\/4335\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/media\/4318"}],"wp:attachment":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/media?parent=4335"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/categories?post=4335"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/tags?post=4335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}