Government and public sector employees hailing from more than 20 states across the nation convened for a significant demonstration known as the "Pension Shankhnaad Maharally," which took place at the historic Ramlila Maidan in the heart of Delhi on a Sunday. This noteworthy gathering was orchestrated under the aegis of the National Movement for Old Pension Scheme (NMOPS), and its primary objective was to apply pressure on the central government to annul the extant National Pension Scheme (NPS) and revert to the reinstatement of the Old Pension Scheme (OPS).
Delhi's chief minister, Arvind Kejriwal, lent his vocal support to the cause championed by both central and state government employees, who are fervently advocating for the revival of the old pension scheme (OPS) and have also embarked on their own protest campaign to amplify this demand. Kejriwal, in an expression of solidarity, conveyed his endorsement via a tweet on the social media platform formerly known as Twitter, stating, "We firmly stand behind the government employees' plea to reintroduce OPS. The New Pension Scheme (NPS) represents an injustice inflicted upon the dedicated workforce. In Punjab, we have successfully implemented OPS, and we have corresponded with the Central government, advocating for its implementation for Delhi government employees. It's worth noting that several non-BJP governed states have already taken measures to implement OPS."
Notably, the Congress party has also joined the chorus of voices supporting the protest against the New Pension Scheme (NPS) and the call for the restoration of the old pension scheme. Utilizing the same social media platform, the party emphasized, "The old pension scheme is a fundamental entitlement of employees. Congress-led state governments have taken affirmative steps to reinstate the old pension. Our stance on this matter is unequivocal: employees must be granted their rightful benefits. The Modi government should consider restoring the old pension scheme, thereby honoring the diligent workers who serve our nation."
This momentous gathering at Ramlila Maidan brought together government and public sector employees from various states, united under the banner of NMOPS, to assert their collective demand for the abandonment of the prevailing National Pension Scheme (NPS) and the return to the time-honored Old Pension Scheme (OPS).
One of the impassioned protesters, Jitendra, who had journeyed from Pune in Maharashtra to participate in the rally, articulated the sentiment among the demonstrators, stating, "The old pension scheme has been discontinued in our country since 2004 and in Maharashtra since 2005. We steadfastly reject the New Pension Scheme (NPS) and its associations with the volatile stock market. It is worth noting that our Constitution explicitly recognizes the old pension as our inherent right."
Distinguishing between the two pension systems, the Old Pension Scheme (OPS) guarantees employees a fixed pension amount, equivalent to 50% of their final earned salary. Regrettably, the OPS was discontinued by the NDA government in 2003, with the cessation officially taking effect on April 1, 2004. In stark contrast, the National Pension System (NPS) necessitates that employees allocate 10% of their basic salary toward their retirement fund, a contribution which is then matched by a 14% investment from the government.
Of significance, the old pension scheme has been resurrected in five states not under the governance of the Bharatiya Janata Party (BJP): Rajasthan, Chhattisgarh, Jharkhand, Punjab, and Himachal Pradesh, signifying a regional variation in the approach to this critical issue.
