What are the key aspects of the Old Pension Scheme restoration and the implications on government employees in India
Explore the impact of the restoration of the Old Pension Scheme on government employees and the reasons behind their decision to go on strike from May 1.
- Restoration of the Old Pension Scheme: The key aspect involves reverting back to the pension system prior to the introduction of the New Pension Scheme (NPS) in 2004.
- Impact on Government Employees: This move provides a sense of security and financial stability to government employees post-retirement.
- Reasons for Strike: Government employees are dissatisfied with the NPS due to its market-linked returns and lack of assured benefits, leading to job insecurity and inadequate retirement funds.
- Importance of Pension Scheme: The Old Pension Scheme ensures a fixed pension amount, ensuring social security for employees in their retirement years.
- Employee Support: The decision to go on strike from May 1 reflects the collective frustration and demand for the restoration of the Old Pension Scheme among government employees in India.
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