Refund Money Collected Under National Pension Scheme: Chhattisgarh Chief Minister Requests PM

The PFRDA rejected the state government's request to withdraw Rs 17,240 crore accrued under the NPS. The state government had requested the PFRDA on May 20 this year to return this amount to it

Chhattisgarh Chief Minister Bhupesh Baghel has urged Prime Minister Narendra Modi to issue a directive to the Pension Fund Regulatory and Development Authority (PFRDA) to refund the money deposited towards the National Pension System (NPS) since November 2004 by the state government along with accruals, officials said on Friday.

Mr Baghel made this demand to the prime minister days after the PFRDA rejected the state government's request to withdraw Rs 17,240 crore accrued under the NPS.

In his letter written to Prime Minister Narendra Modi on Thursday, Baghel said his government has decided to reinstate the old pension scheme (OPS) in the interest of government officials and employees, and for its implementation the request is being made.

As per the data available with the state government, Rs 11,850 crore (employee and employer contribution) has been transferred by it to the National Securities Depository Limited (NSDL) during the period from November 1, 2004 to March 31, 2022. The current market value of this amount is about Rs 17,240 crore, he said.