Lok Sabha Question No. 2072 (UNSTARRED), answered on 2024-08-05
Subject: Restoration of OPS
Ministry: FINANCE
Asked by: Shri S Venkatesan, Shri Anand Bhadauria, Shri Raja A

2072:   Shri Raja A:

Shri S Venkatesan:

Shri Anand Bhadauria:

Will the Minister of FINANCE be pleased to state:

- (a)   whether a Committee was set  up under the chairmanship of Shri  Somanathan,  Secretary Finance to study the issues related to National Pension Scheme and suggest improvements;
- (b)  if so, the details thereof and if not, the reasons for delay along with the current status of the said committee;
- (c)   whether the report has been submitted by the Committee;
- (d)  whether the Government Employees Associations have been struggling and also demanding restoration of Old Pension Scheme instead of contributory pension scheme and if so, the response of the Government thereto;
- (e)   whether  it  is  a  fact  that  some  State  Governments  have  also  restored  OPS  for  their employees and if so, the details thereof; and
- (f)   whether the Government is not in favour of restoring OPS to its Government servants and if so, the reasons therefor?

## ANSWER MINISTER OF STATE FOR FINANCE (SHRI PANKAJ CHOUDHARY)

(a), (b) & (f): Yes. In pursuance of the announcement made by the Finance Minister in the Lok Sabha on 24.03.2023, the Central Government has constituted a Committee being chaired by the  Finance  Secretary.  The  composition  and  Terms  of  Reference  of  the  Committee  are  as under:

## Composition:

- i. Finance Secretary & Secretary (Expenditure)

:       Chairman

- ii. Secretary, Department of Personnel & Training,                   :       Member

Ministry of Personnel, Public Grievances and Pensions

- iii. Additional Secretary (Pers), Department of Expenditure,      :      Member

Ministry of Finance

- iv. Chairman, Pension Fund Regulatory & Development

:      Member

- Authority (PFRDA)

## Ministry of Finance

## Department of Expenditure LOK SABHA

## UNSTARRED QUESTION NO.2072

TO BE ANSWERED ON MONDAY, AUGUST 5, 2024/ /

## 14 SHRAVANA, 1946 (SAKA)

## RESTORATION OF OPS QUESTION

## Terms of Reference

- i. Whether in the light of the existing framework and structure of the National Pension System, as applicable to Government employees, any changes therein are warranted;
- ii. If so, to suggest such measures as are appropriate to modify the same with a view to improving upon the pensionary benefits of Government employees covered under the National  Pension  System,  keeping  in  view  the  fiscal  implications  and  impact  on overall budgetary space, so that fiscal prudence is maintained to protect the common citizens.
3. (c) The Committee has made considerable progress in its work but has not submitted its final report.
4. (d) Representations have been received from time to time to restore OPS. The same are placed before the Committee constituted to review the pension system.
5. (e) State  Governments  of  Rajasthan,  Chhatisgarh,  Jharkhand,  Punjab  and  Himachal Pradesh have informed the Central Government/PFRDA about their decision to restart Old  Pension  Scheme  (OPS)  for  their  State  Government  employees.  However, Government  of  Punjab  continues  to  make  contributions  to  the  National  Pension System.

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