Thousands protest for Old Pension Scheme at Haryana CM’s residence; Police use tear gas shells to disperse crowd

Old Pension Scheme: On Sunday, thousands of government employees in Haryana marched to Chief Minister Manohar Lal Khattar's residence in Panchkula to demand the restoration of the Old Pension Scheme (OPS) in the state, which was replaced by the National Pension Scheme. The protesters' actions resulted in the police using tear gas shells to disperse the crowd.

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RBI issues warning for pension scheme

Other states like Rajasthan, Chhattisgarh, Jharkhand, and Punjab have already informed the central government and the Pension Fund Regulatory and Development Authority (PFRDA) of their decision to reintroduce the OPS for their employees covered under the NPS.

However, the Reserve Bank of India (RBI) sounded a note of caution on reverting to the old pension scheme, saying it poses a major risk to the subnational fiscal horizon and may lead to the unfunded liabilities in the future. The RBI's warning came after Himachal Pradesh became the latest state to announce its plan to revert to the Dearness Allowance (DA)-linked OPS.

Pension Bahali Sangharsh Samiti's spokesperson, Praveen Deshwal, claimed "Around 70,000 employees have gathered today to protest. In Rajasthan, the Old Pension Scheme has been implemented. This Bharatiya Janta Party (BJP) government does not talk to the employees. We will continue our peaceful protest."

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Employees continue to protest

The demand for the restoration of the OPS stems from the belief that the NPS is inadequate, particularly for government employees who do not receive the same benefits as those in the OPS. Moreover, employees argue that they did not have a choice when the NPS was implemented, and that they have lost out on significant benefits that would have accrued under the OPS. The issue of pension reform is a contentious one, with governments and employees debating its merits and implications on the country's economy and society.

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