Thousands gather in protest at Delhi’s Ramlila Maidan, demand Old Pension Scheme back | Mint
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Business News/ News / Thousands gather in protest at Delhi’s Ramlila Maidan, demand Old Pension Scheme back
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Thousands gather in protest at Delhi’s Ramlila Maidan, demand Old Pension Scheme back

Thousands protest in Delhi demanding restoration of old pension scheme. Congress and Delhi CM support the protests, RBI warns of fiscal stress.

Government employees stage a protest demanding restoration of the Old Pension Scheme (OPS) (PTI)Premium
Government employees stage a protest demanding restoration of the Old Pension Scheme (OPS) (PTI)

Thousands of employees of the Central government, state and PSUs have gathered at Delhi’s Ramlila Maidan to protest against the New Pension Scheme and demand the restoration of the Old Pension Scheme (OPS). According to a report, government and PSU employees of more than 20 states have come together for the ‘Pension Shankhanaad Rally’ to protest against the Central government. The protest was organised by National Movement for Old Pension Scheme (NMOPS).

Congress took to the microblogging website, X, and extended support to the protests against the New Pension Scheme, saying the Congress-ruled states have restored the old pension.

Congress said, “Old pension is the right of the employees. Congress state governments have restored the old pension. Our policy regarding this is clear – employees must get their rights. Modi government should restore the old pension, honor the workers who serve the country."

Videos of the protest at the Ramlila Maidan in Delhi show a sea of government employees raising slogans against the Centre to demand the implementation of the Old Pension Scheme.

Delhi Chief Minister Arvind Kejriwal on Sunday voiced support for the old pension scheme and said he has requested the Centre to implement it for Delhi government employees. His remarks came amid a massive protest at the Ramlila Maidan here by central and state government employees from more than 20 states for the restoration of the old pension scheme.

Also Read | Old pension vs new pension scheme

“We strongly support the demand of government employees to bring back OPS. NPS is an injustice against employees. We have implemented OPS in Punjab and have written to the Centre for implementing it for Del govt employees. Some other non-BJP govts have also implemented OPS," Arvind Kejriwal said in a post on 'X'.

Meanwhile, an article by RBI staffers mentioned that states reverting to the old pension scheme is a "major step backwards" and may take the fiscal stress of states to "unsustainable levels" in the medium to long term.

It said the cumulative fiscal burden in the case of the Old Pension Scheme (OPS) could be as high as 4.5 times that of the New Pension Scheme, which was implemented over a decade ago as part of pension reforms.

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Published: 01 Oct 2023, 06:29 PM IST
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