National Pension System is a disaster for retiring employees, bring back old pension scheme: AJKLTF

JAMMU: All Jammu Kashmir & Ladakh Teachers’ Federation (AJKLTF) aft.with Akhil Bhartiya Rashtriya Shakshik Mahasangh has taken a strong stand defending teachers and government employees fighting for their post retirement benefits, especially pensions, so that they can lead decent lives. The employees are protesting in Jammu Kashmir UT to demand the reinstatement of the old pension scheme (OPS). 

Devraj Thakur, ABRSM National Auditor and State President All Jammu Kashmir & Ladakh Teachers’ Federation (AJKLTF) aft.with Akhil Bhartiya Rashtriya Shakshik Mahasangh,after attending the National Executive Council meeting at Bangalore Karnataka, has demanded to restore the Old Pension Scheme (OPS), stating that the National Pension System (NPS) is a disaster for retiring employees in their old age, briefing the media here today on the issue of NPS in Jammu Kashmir.

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"We consider the new pension scheme to be a form of contributory pension, the classic example of privatising everything,” Thakur explained. He said the employees and teachers would intensify the agitation and demand for the implementation of old pension scheme. He said the employees are suffering a lot due to non-implementation of old pension scheme.

Thakur demanded restoration of Old Pension Scheme (OPS) and scrapping of New Pension Scheme (NPS) and threatened that employees will come on roads if the same will not be done. Thakur said that OPS should be restored immediately in favour of employees appointed after January 1, 2010 in Jammu Kashmir.

“NPS is totally against the employees and is injustice with employee as well as their family members,” he maintained adding, “NPS does not guarantee minimum pension to the employees and the government should immediately withdraw the ordinance in this regard.”

“It is now 18 years at National level after the implementation of NPS, Employees who were recruited on or after 01/01/2004 have now started retiring from service. From the paltry amount they are now getting as pension from NPS it is proved that it is a disaster for the retiring employees in their old age and not a win-win situation,”.

Thakur told that the NPS was “an atrocity committed on government employees” and the ABRSM was contemplating serious measures to draw the government’s attention.  Thakur said a official who recently retired after more than 13 years of service received only 15% of the assured pension he would have otherwise availed under the OPS.

"Under the NPS, the official with a basic pay of ₹30,500 received ₹2,417 as monthly pension as against the ₹15,250 pension he would have been given under the OPS.Another official with a basic pay of ₹34,300, received ₹2,506 as monthly pension after more than 15 years of service, whereas under the OPS, he would have been entitled to ₹17,150 as pension", Thakur further elaborated. 

Thakur, said: “It is amply clear that the NPS employees despite their contribution of 10% of their wages every month for their entire service is getting only a very meager pension and are worse off vis-à-vis the OPS. The pension under NPS remain static and there is no Dearness Relief to compensate the price rise /inflation as available in the OPS.” He said that all Central/state government employees, including paramilitary personnel, are opposing the “no guaranteed NPS” and were demanding the government scrap the NPS.

"The Old Pension Scheme assured life-long income post-retirement, usually equivalent to 50% of the last drawn salary. Government bears the expenditure incurred on the pension", he further added  Thousands of teachers have supporting our campaign demanding the reinstatement of the old pension scheme for all government employees.