NPS to OPS: New Pension Scheme Demand To Scrap it
Pension is a reward for past service. It is undoubtedly a condition of service but not an incentive to attract new entrants, the Pension is paid for past satisfactory service rendered, and to avoid destitution in old age as well as a social welfare or socio-economic justice measure, the fact that the cost of living has shot up and correspondingly the possibility of savings has gone down and consequently the drop in wages on retirement.
That pension is neither a bounty nor a matter of grace depending upon the sweet will of the employer and that it creates a vested right subject to 1972 rules which are statutory in character because they are enacted in exercise of powers conferred by the proviso to Art. 309 and clause (5) of Art. 148 of the Constitution; (ii) that the pension is not an ex-gratia payment but it is a payment for the past service rendered; and (iii) it is a social welfare measure rendering socio-economic justice to those who in the hey-day of their life ceaselessly toiled for the employer on an assurance that in their old age they would not be left in lurch.
As on 01-01-2018 there were 51.96 lakh pensioners in the country, including from Central Civil Services, Railways, and Post, Defence and Defence civilians.
EVOLUTION OF NEW PENSION SCHEME (NPS) IN INDIA:
|Sl. no||Indian Government View||Employees view|
|1||The ratio of retirees to workers is on continuous rise and further by 2030 the 25% of the population (200 million pensioners) will be above 60 years of age.||The large number of employees are effected by the New Pension reforms, hence Government should keep it in mind the interest of the large chunk of employees|
|2||The Pension system shall put enormous financial pressure on the Government and take away funds meant for social cause spending, this will cause a drain on the state of economy.||About 80 % of employees are Group “C” workers, the pension amount is ultimately spent by them for their daily needs and money flows into the market and economy will not be effected , secondly Government is a model employer and it has social responsibility towards its employees.|