Old pension scheme for all govt employees recruited after May, 2003

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After 2003, all the employees recruited into govt service have been covered under NPS , and old pension scheme was scrapped.The move didn't see much resistance as the govt was always believed to be a  wellwisher of its employees.But as time went past, and employees covered under NPS started to retire, a Pandora's box opened .For years and months together ,employees dues were not settled.And even when settled a paltry 60 % amount is being doled out as one time settlement and rest 40 percent kept for giving a paltry amount as pension.employees of lower cadre to top rung are getting pension in the range of 500 to 5000, which is mockery of post retirement benefits.At one end, govt wishes to make every person in govt service accountable and responsible and tightening its noose on erring employees , but it's also the responsibility of government to ensure welfare of its employees.Govt employees are not just workers, they are kith and kin of government,eyes and ears of government, and if they feel exploited and let down, it would surely affect their morale, work efficiency and conduct too. NPS is full of flaws, there is no minimum respectable amount fixed for pension, there is no gratuity, no benefit for employees dying in service or to their bereaved families. NPS is a flawed formulation based on Exempt Exempt Tax, where the 60 percent given to employee as well as 40 percent kept for pension is taxed, whereas old pension scheme is favorably based on Exempt Exempt Exempt .There is no commutation facility available as in OPS. NPS though managed by govt authorized fund managers ,is market linked ,and prone to market instabilities and the accumulated principal amount has every chance to fall to negative side in case of downside of markets.there is no DA on NPS ,as well as no other increase or allowance on pension from NPS.The withdrawn from NPS though allowed in a very limited manner is still not properly formulated and being implemented .And to top it all, if an employee opts for VRS or dies in service, he and his family/ dependants are doomed for ever.Thus, we all believe NPS is not in the larger interest of employees .It falls way too behind in honoring the governments commitments of welfare of its employees. We all believe ,urge and demand restoration of old pension scheme for all government employees with immediate effect.

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