Old Pension Scheme

Old and New Pension Scheme

In News: The RBI has advised States against reversion to old pension system (OPS), citing financial risks. Old and New Pension Scheme Background The OPS was discontinued by the Union government in 2003 and introduced the National Pension System (NPS) from...

Old Pension Scheme (OPS)

About Old Pension Scheme News In the Old Pension Scheme, upon retirement, employees receive 50 percent of their last drawn basic pay plus dearness allowance or their average earnings in the last ten months of service, whichever is more advantageous...

Old Pension Scheme

About Old Pension Scheme (OPS) Assured income after retirement: In the OPS, upon retirement, employees receive 50 percent of their last drawn basic pay plus dearness allowance or their average earnings in the last ten months of service, whichever is...