Scrap New Pension System
This petition had 508 supporters
School Teachers’ Federation of India (STFI) & AP United Teachers' Federation demands the Government of India to scrap New Pension System and to Restore Old Pension System.
As against the defined benefit pension system, a new pension system (NPS) had been introduced by the Government of India from January 1, 2004 for new entrants to service in the Central Government (other than the Armed Forces). Later all the State Governments except Tripura and West Bengal, are also adopted the National Pension System (N.P.S). In order to give the NPS a statutory basis, the Union Government enacted PFRDA Act in September, 2013 though the left parties opposed in the parliament.
As on today there are 1,682,091 Central Government and 2,993,766 State Government employees are under NPS. As there is no minimum guarantee of pension, no PF and no Gratuity or commuted value of pension. The employees and their families are in insecure mode and they are bothering about their future.
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