Old Pension Scheme: Employees retired before 28 June can also avail the benefits of old pension, Finance Department announced

 

Old Pension Scheme: There is no restriction on the old pension benefits for employees who retired before 28 June 2024 in Uttar Pradesh, but the NPS amount received by them will have to be deposited in the treasury along with interest. The interest will be calculated from the date of receipt of the employer’s contribution and the return on it till the date of depositing the amount in the treasury.

Old Pension Scheme: The Finance Department clarified on Thursday about the government order issued on June 28, 2024 regarding giving the benefit of the old pension scheme that if any employee has retired before the issuance of that government order, then he can also avail the benefit of the old pension scheme. For this, they will have to deposit the government contribution and its return received under the new pension scheme along with interest in the treasury. However, no GPF account will be opened for them to give the benefit of old pension.

In fact, according to the government order issued on June 28, those employees who had retired on the advertised posts before March 28, 2005, were asked to give the benefit of the old pension scheme. Since the implementation of the provisions of the government order issued on June 28, information was being continuously sought from the Finance Department in this regard whether the employees who retired before June 28 will also get the benefit of the old pension scheme. On this, the Finance Department has issued a government order with clarification on Thursday as per the arrangement made by the Central Government in this regard.

Additional Chief Secretary issued government order

According to the government order issued by Additional Chief Secretary Finance Deepak Kumar, there is no restriction on the employees who retired before 28 to get the benefit of old pension, but the amount of NPS received by them will have to be deposited in the treasury along with interest. The interest will be calculated from the date of receipt of the employer’s contribution and the return on it till the date of depositing the amount in the treasury.

There is no need for a GPF account

It has also been clarified that these employees do not need to open a GPF account to avail pension benefits. If the employee has not withdrawn the amount from the NPS account, the account will be closed. Also, at the time of withdrawal, the contribution along with the return on the fund will be deposited in the government account. No interest will be charged on such amount.