Good news for NPS employees win cases in Supreme Court on restoration of old pension, government employees should be given all benefits of old pension from the date of their appointment:- Supreme Court
New Delhi: – Good news for NPS employees win cases in Supreme Court on restoration of old pension, government employees should be given all benefits of old pension from the date of their appointment.
The Supreme Court, while giving a historic decision to restore the old pension, ordered all the states of the country that all the states should give the benefit of the old pension scheme to their employees as soon as possible.
With the decision of the Supreme Court, there was a wave of happiness again on the faces of all the employees.
- In this historic decision of the Supreme Court, the government employees of all the states of the country will now get the benefit of the old pension scheme from the date of their appointment.
About 4 lakh employed teachers of Bihar will also get the benefit of old pension from the date of appointment as well as all kinds of facilities will also have to be given to the government.
- NPS employees got a landslide victory in the Supreme Court today in the case of restoration of old pension.
National Pension System Trust
- (NPS Trust) is a specialised division of Pension Fund Regulatory and Development Authority which is under the jurisdiction of Ministry of Finance of the Government of India. The National Pension System (NPS) is a voluntary defined contribution pension system in India. National Pension System, like PPF and EPF is an EEE (Exempt-Exempt-Exempt) instrument in India where the entire corpus escapes tax at maturity and entire pension withdrawal amount is tax-free
The Supreme Court ruled in favor of the old pension scheme of the employees. Hearing the side of the employees and the Government of India respectively in favor and against the old pension, the Supreme Court came to the conclusion that the new pension scheme is not in the interest of the employees.
- The court ruled that the basis on which the government had implemented NPS by canceling the old pension from April 1, 2004, was wrong.
All the benefits of old pension should be given to the employees from the date of their appointment. The court rejected all the arguments given in favor of the government’s NPS and all the arguments of the financial system in implementing the old pension scheme of the government.