Why Govt Must Revive Old Pension Scheme | With Aunindyo Chakravarty
In 2004, a new National Pension Scheme (NPS) was introduced for government officials. The scheme was supposed to both reduce the government's expenditure on pensions and also provide higher pensions to employees after retirement, because their pension funds could be invested in the stock markets. 19 years later, government employees have realised that NPS has left them without any proper retirement benefits. That is why they are demanding that governments revive the Old Pension Scheme (OPS). Five opposition states have gone back to it, but the centre hasn't budged. What is this NPS and why is it bad for retirees?
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