Old Pension Scheme implemented in chhattisgarh

• 12 Apr 2022

Why In News?

On April 11, 2022, on the initiative of Chhattisgarh Chief Minister Bhupesh Baghel, the old pension scheme for state government employees was implemented in Chhattisgarh.

Key Points

• With this decision, the officers and employees of the new contributory pension scheme will also start getting the benefit of the old pension scheme from this financial year. About three lakh officers and employees will benefit from this decision.
• It is noteworthy that for a long time, various employees' organizations of the state government had been demanding to implement the old pension scheme in place of the new contributory pension scheme on the employees appointed on and after November 1, 2004. After which Chief Minister Bhupesh Baghel had announced the implementation of an old pension scheme for state government employees in the budget session of the Vidhan Sabha.
• According to the instructions issued by the Finance Department regarding the old pension scheme, instructions have been issued to deduct 12 percent from the basic pay in the provident fund from April 1, 2022.
• Similarly, 10 percent monthly deduction for the new contributory pension scheme from the salary of state government employees appointed in the year 2004 and after has been abolished from April 1, 2022.
• It has also been mentioned in the issued instructions that the details of deduction of the General Provident Fund will be kept separately at the Directorate, Treasury Account and Pension level and this amount will be shown in the new General Provident Fund account number allotted to the concerned employees.