• After Himachal Pradesh, Maharashtra government considers returning to Old Pension Scheme

    National
    After Himachal Pradesh, Maharashtra government considers returning to Old Pension Scheme
    The government supports the previous pension plan for educators and government workers, non-aided schools, as well as a 25% reservation for students attending English-medium schools. PTI, a news source, cited Shinde.

    Digital Desk: The chief minister of Maharashtra, Eknath Shinde stated on Saturday, just before the legislative council election, that the state government is positive about implementing the Old Pension Scheme for teachers and other public employees. The Old Pension Scheme (OPS) for state employees was recently reestablished by the government of Himachal Pradesh.

    The government supports the previous pension plan for educators and government workers, non-aided schools, as well as a 25% reservation for students attending English-medium schools. PTI, a news source, cited Shinde.

    The former pension plan is being studied by the department of education. Shinde's announcement comes about a month after Devendra Fadnavis, the Maharashtra state government's deputy chief minister and finance minister, said that the state would not return to OPS because doing so would burden the exchequer with a debt of about 1.10 lakh crore and lead to the state going bankrupt.

    Employees of the government were entitled to a defined pension under the previous pension system, which was equivalent to 50% of their final drew salary. However, under the new pension scheme, employees of the government must contribute a certain amount of their current income to their pensions.

    The chief minister of Maharashtra announced that his administration will use its efforts to respond to criticisms levelled by the opposition about investment ideas that had just been decided upon at the Davos summit. The validity of several Memoranda of Understanding (MoU) that the previous Maha Vikas Aghadi (MVA) administration had signed was also questioned by him.
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