Old pension scheme: National pension system i.e. NPS was implemented on 1 January 2004. After the implementation of NPS, a new pension system was implemented for central employees leaving the armed forces.
Chance to choose one option by 31 May.
In the midst of the Corona crisis, the Department of Personnel has taken a big decision regarding the pension of central employees. Central employees will now be able to choose one of their own in the NPS and Old Pension System and for this they have a chance till 31 May 2021. This announcement will only benefit those central employees who were selected before January 1, 2004, but joining took place after that.
The Department of Pension and Pensioners Welfare issued an Office of Memorandum to such employees for selecting one option in both. Deadlines are issued for different procedures under the Office of Memorandum. For the last one year, the country has been fighting a war against Corona. In this case, its different deadlines have been pushed forward for different dates.
Chance to choose until 31 May 2021
The new deadline of Exercise of Option under Old Pension Scheme has now been extended till 31 May 2021 which was earlier till 31 May 2020. The deadline of the Examination and Decision on Representation by Appointment by Appointment Authority has been extended till 30 September 2021 which was earlier till 30 September 2020. Similarly, the deadline of the closure of NPS has been extended till 1 November 2021.
Learn about the case in detail
The National Pension System i.e. NPS was implemented on 1 January 2004. After the introduction of NPS, a new pension system was implemented for central employees leaving the armed forces. If an employee was appointed after 31 December 2003, then he was given the benefit of NPS. Although it has been complained to the government that there are lakhs of employees who were appointed after 31 December 2003, but their selection has been done before this. The delay in appointment is administrative. Therefore, they should get the benefit of the old pension system. After this, the government has given a one-time option for such employees, so that they can choose one in the Old Pension System (CCS (Pension) Rules, 1972) or NPS.
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