State Govt. Plans To Resume OPS!!! Get The Latest HP Cabinet News!!!

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State Govt. Plans To Resume OPS
State Govt. Plans To Resume OPS

HP Government Plans To Resume OPS: The Himachal Pradesh state government has planned to resume the Old Pension Scheme (OPS) instead of the National Pension Scheme (NPS) from April 1, 2023. This is one of the Congress party’s promises which were made during the 2022 assembly polls. The cabinet took this decision in the first meeting on January 13, 2023.

Now this notification is officially announced by the chief secretary on Monday. With this implementation of OPS, the contribution of employee’s and employer’s shares shall be stopped from April 1, 2023. The OPS will benefit over 1.36 lakh employees to be free from deductions under National Pension Scheme (NPS).

These OPS will benefit both the currently working government employees and retired employees with more than 20 years of service who would get a 50% of basic pay and DA as pension. Recently the union finance ministry also takes the initiative to revise the country’s pension scheme.

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