Jaipur, Desk Report. Old pension scheme has been implemented in the state. Also, the government has issued a warning for the employee pensioners. Under this warning, if the amount deposited in the New Pension Scheme is withdrawn by the employees and pensioners, then the benefit of the old pension scheme will not be given to the employees by the government. Also, the Finance Department has banned the withdrawal of the amount deducted for NPS.
A circular has been issued by the Finance Department in this regard. The Finance Department has warned that employees who apply for withdrawal of deposits in NPS will be deemed not to take advantage of the old pension scheme and do not want to take advantage of it. Not only this, those applying for withdrawal of NPS deposits have been warned to take action considering the violation of the orders of the government.
Earlier, the demand of the Rajasthan government has been denied by the Pension Fund Regulatory Development Authority to return the amount of NPS deduction. Actually, whatever amount has been deducted till March 2021 to the employees of New Pension Scheme. The same has been submitted to PFRDA. After the announcement of the implementation of the old pension scheme in the state, Rs 39000 crore deposited in PFRDA was demanded by the government. In which the agency has categorically denied this and said that there is no provision to refund money on premature withdrawal.
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Under the New Pension Scheme, PFRDA has made provisions for withdrawal of 25% of its own share of the amount deposited by the employees. After which the withdrawal from NPS was started after the implementation of the old pension scheme by the employees. However, now the Finance Department has issued a circular on behalf of the government, banning it.
Explain that after a long demand, Rajasthan Chief Minister Ashok Gehlot had announced the implementation of the old pension scheme in the budget this year for 5 employees and pensioners. Under this scheme, the employees who joined government service on or after January 1, 2004, are to be given the benefit of old pension scheme. However, before this, the amount of own salary has been deposited by the employees in the new pension scheme. The amount deducted from the salary under NPS was deposited in PFRDA. However, after the implementation of the old pension scheme, the withdrawal of this amount was started by the employees pensioners.
On which the Finance Department has argued that with the announcement of the implementation of the Old Pension Scheme, the New Pension Scheme has been abolished. The circular was issued on 19 May 2022. In which there was a provision that the employees who have withdrawn the amount from the New Pension Scheme. This will be adjusted in the amount of GPS he will get on retirement.
However, it was not clear in this circular that employee pensioners cannot withdraw this amount. After the issue of the same circular, the problem for the employees has increased. Also, it has been clarified in the circular that if the NPS money is withdrawn, then the benefit of the old pension scheme will not be given to the employee.