In addition to the old pension scheme, 25 further recommendations were accepted by the Jharkhand state government.
The previous pension plan, which was terminated in 2004, is now being restored. The state of Jharkhand’s administration has said that it will reintroduce the former pension program for state employees. Beginning on October 1, Jharkhand will adopt the Old Pension Scheme. The Standard Operating Procedure has previously been authorized by the state government to execute the previous pension plan.
According to the government official, it was resolved to abandon the new contributory pension plan and apply the old pension plan in the last cabinet meeting on July 15.
The New Pension Scheme was adopted in 2004 following the termination of the Old Pension Scheme. It took the place of the previous pension plan on April 1, 2004, when the former was discontinued. In contrast to the former pension system, when the government issued the whole pension, the National Pension Scheme requires employees to contribute 10 percent of their salaries and the state governments to make up the remaining 14 percent.
About 1.5 lakh government employees in Jharkhand would benefit from the implementation of the old pension. In addition to the old pension scheme, 25 further recommendations were accepted by the Jharkhand state government. The hiring of chartered aircraft by the government for VVIP and VIP travel in other states outside of Jharkhand’s border for a month is a significant decision in this case. The cost of this is two billion six hundred thousand rupees.