RESTORATION OF OLD PENSION – Parliamentary Inquiry on Current Status, State Initiatives, and Government Action

RESTORATION OF OLD PENSION – Parliamentary Inquiry dated 11.12.2023 on Current Status, State Initiatives, and Government Action

Ministry of Finance
Department of Expenditure
LOK SABHA
UNSTARRED QUESTION NO.1159
TO BE ANSWERED ON 11th DECEMBER, 2023/ AGRAHAYANA 20, 1945 (SAKA)

RESTORATION OF OLD PENSION

QUESTION

†1159. SHRI NABA KUMAR SARANIA:
SHRI DEEPAK BAIJ:
SHRI KRUPAL BALAJI TUMANE:

Will the Minister of FINANCE be pleased to state:

(a) the number of pensioners in the country, State-wise;

(b) whether the Government proposes to restore Old Pension Scheme (OPS), if so, the details thereof and the reasons for delay in the implementation of OPS;

(c) the number of States that have restarted the OPS for their employees;

(d) whether many States have demanded return of contribution of National Pension Scheme (NPS) to restart OPS;

(e) the details of amount deposited along with interest thereon demanded by the Government of Chhattisgarh along with the action taken by the Government thereon; and

(f) the decision taken/being taken by the Government to return the fund of NPS to States that have restarted OPS?

ANSWER

MINISTER OF STATE FOR FINANCE
(SHRI PANKAJ CHAUDHARY)

(a) As per the data compiled and furnished by Department of Pension and Pensioners’ Welfare on the basis of database maintained by Central Pension Accounting Office, Controller General of Defence Accounts, Ministry of Railways, Department of Telecommunication and Department of Posts, the total number of Central Government pensioners as on 31.03.2023 is as follows:-

Central Government does not maintain database in respect of pensioners of State Government.

(b) No such proposal is under consideration of Government for restoration of OPS in respect of Central Government employees. A Committee has been set up under the chairmanship of Finance Secretary to look into the issue of Pensions under National Pension System (NPS) in respect of Government employees and to, inter alia, examine whether in the light of the existing framework and structure of the National Pension System, as applicable to Government employees, any changes therein are warranted.

(c) & (d) The State Governments of Rajasthan, Chhattisgarh, Jharkhand, Punjab, and Himachal Pradesh have informed the Central Government/ Pension Fund Regulatory and Development Authority (PFRDA) about their decision to revert to Old Pension Scheme (OPS) for their State Government employees. These State Governments have requested for withdrawal/refund of contribution along with return thereon. However, the Government of Punjab has also informed the Government of India that it continues to pay staff and Government contributions to the NPS.

(e) & (f) The State Government of Chhattisgarh vide letter dated 02.06.2022 has informed that an amount of Rs. 11,850 Crores has been transferred to Protean (erstwhile NSDL) having an Assests Under Management (AUM) of Rs. 17,240 Crores as on 31.03.2022 in respect of subscriber under NPS. There is no provision under PFRDA Act, 2013 read along with PFRDA (Exits and Withdrawals under the National Pension System) Regulations, 2015, and other relevant Regulations, vide which the accumulated corpus of the subscribers viz. Government contribution, Employees’ contribution towards NPS along with accruals, can be refunded and deposited back to the State Governments.

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