Discussions on the closure of the old pension scheme reinforced in Rajasthan, watch the two -minute video to allow poor institutions to move to new pension.

Discussions on the closure of the Old Pension Fund (OPS) are once again gaining momentum in Rajasthan. The state government has now given permission for making institutions to implement the new pension fund fund (NPS). The move is aimed at reducing the pension burden on financially poor institutions. According to the information, so far, many boards, corporations, autonomous institutions and universities have given benefits to their employees under the old pension fund. But recently, the Finance Department has issued an order stating that financially poor institutions can now make the decision to close the OPS scheme at their own level. Under this process, such boards and universities that do not have sufficient amount in the pension fund may move their employees to the new pension scheme after making a decision on their board and approving the government. This will provide financial stability to the institutions in the long run and ease of pension payment. Experts believe that a lack of funds in the old pension fund has become a serious problem for many institutions. Under the new pension fund, the contributions and investments of employees were safely in the form of funds and thus reduced the additional financial burden on institutions. Employee organizations and trade unions gave mixed reactions to this decision. Some people believe that this step is needed for the institutions, but others are against the importance of the employees. The unions say that any form of risk to employee pension security is not acceptable. The state government has made it clear that the decision is only for financially poor entities and that it will be necessary to complete all the processes and approvals before it is implemented. This decision hopes that the financially emphasized boards and universities will stabilize their pension systems and allow no reduction in pension payments in the future. However, the response of employees and trade unions is monitored, as matters related to pension and future security of high sensitivity. This process of transition from old pension to new pension in Rajasthan will be important in the coming months, both from the financial management standpoint and the importance of the employees. Share this story -tags