Pension Reform

In a significant move, the Karnataka government has officially announced the implementation of the Old Pension Scheme for approximately 13,000 state government employees who were recruited after 2006. This decision comes as a fulfillment of Chief Minister Siddaramaiah’s commitment made during a strike by government employees opposing the introduction of the new pension scheme. 2006 ಏಪ್ರಿಲ್‌ ಪೂರ್ವ ನೇಮಕಾತಿ ಅಧಿಸೂಚನೆಯಾಗಿ 2006 ರ ನಂತರ ನೇಮಕಾತಿಗೊಂಡ ರಾಜ್ಯ ಸರ್ಕಾರದ ಸುಮಾರು 13,000 ಸರ್ಕಾರಿ ನೌಕರರಿಗೆ ಹಳೆ ಪಿಂಚಣಿ ಯೋಜನೆ ವ್ಯಾಪ್ತಿಗೆ ಒಳಪಡಿಸಿ ಆದೇಶ ಹೊರಡಿಸಲಾಗಿದೆ. ಚುನಾವಣೆಗೂ ಪೂರ್ವದಲ್ಲಿ ಎನ್.ಪಿ.ಎಸ್ ನೌಕರರು ಮುಷ್ಕರು ಮಾಡುವ ವೇಳೆ ಸ್ಥಳಕ್ಕೆ ಭೇಟಿನೀಡಿ ನಾವು ಅಧಿಕಾರಕ್ಕೆ ಬಂದ ನಂತರ ಬೇಡಿಕೆ… pic.twitter.com/IJTzZACw2R — Siddaramaiah (@siddaramaiah) January 24, 2024 Chief Minister Siddaramaiah affirmed the government’s dedication to meeting the demand of the employees, stating, “An order has been issued to cover the old pension scheme to about 13,000 government employees of the state government recruited after 2006. Even before the election, I visited the place when the National Pension System (NPS) employees were on strike and promised to fulfill the demand after we came to power.” He expressed hope that the decision brings comfort to the families of the 13,000 NPS employees affected by the transition. Old Pension Scheme vs. New Pension Scheme The Old Pension Scheme guarantees a monthly pension post-retirement, usually amounting to half of the last drawn salary, providing financial security for retired government employees. In contrast, the New Pension Scheme involves employees contributing a portion of their salaries to a pension fund, leading to a one-time lump sum payment upon superannuation. The transition from the old to the new scheme occurred in December 2003, with the new scheme being implemented on April 1, 2004. Taking the opportunity to address broader issues, Chief Minister Siddaramaiah criticized the central government, accusing it of failing to deliver on its promise of creating two crore jobs per year. “Prime Minister Narendra Modi, who promised to create 2 crore jobs per year, failed to do so. 20 crore jobs were to be provided in ten years, which did not happen,” he remarked. These comments were made during the inauguration of a project aimed at rejuvenating 150 lakes and ponds in 79 villages in Periyapatna taluk from the Cauvery River at Muthtina Mullusoge on Wednesday, January 24.