The Central Government today clarified that there is no proposal under consideration for restoration of the old pension scheme for their employees. This was stated by Minister of State for Finance Dr. Bhagwad Karad in a written reply in the Lok Sabha. He said, the governments of Rajasthan, Chhattisgarh and Jharkhand have decided to restore the Old Pension Scheme for their employees.
He added that these States have sent proposals to the Centre and Pension Fund Regulatory and Development Authority to return the accumulated corpus of subscribers under the National Pension System to them. He said, they have been informed that under the PFRDA Act and other relevant regulations, there is no provision to refund and deposit back the government contribution and employees’ contribution along with accruals to the state government.
