No Provision In Law To Refund Pension Corpus To States: Centre On Old Scheme
NDTV
The state governments of Rajasthan, Chhattisgarh, Jharkhand, Punjab, and Himachal Pradesh have informed the Centre about their decision to revert to the OPS (old pension scheme)
The central government on Tuesday said there is no provision in the PFRDA Act for a refund of the accumulated NPS corpus being sought by the five non-BJP states that want to restart the Old Pension Scheme.
The state governments of Rajasthan, Chhattisgarh, Jharkhand, Punjab, and Himachal Pradesh have informed the Centre about their decision to revert to the OPS and have requested a refund of corpus accumulated under the National Pension System (NPS).
"There is no provision under Pension Fund Regulatory and Development Authority Act, 2013 ... vide which the accumulated corpus of the subscribers viz Government contribution, Employees' contribution towards NPS along with accruals, can be refunded and deposited back to the State Government," Minister of State for Finance Bhagwat Karad said in a written reply in the Rajya Sabha.
The minister further said that the central government is not considering any proposal to restore the OPS in respect of the central government employees recruited after January 1, 2004.
