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Cabinet approves restoration of Old Pension Scheme for employees

Chandigarh, October 21:

In a historic decision aimed at well being of the government employees, the Punjab Cabinet led by Chief Minister Bhagwant Mann on Friday approved restoration of the Old Pension Scheme for the employees of the state government.

Divulging the details, a spokesperson of the Chief Minister’s Office said that a decision to this effect was taken in meeting of Cabinet held under the chairmanship of the Chief Minister here at the Punjab Civil Secretariat I.

The spokesperson further said that the employees will be given option for adopting the Old Pension Scheme or the New Pension Scheme. It may be recalled that Old Pension Scheme for employees was discontinued in year 2004 and ever since then the employees are being given New Pension Scheme. However the employees have been since long demanding the restoration of Old Pension Scheme.

Keeping in view the well being of the lakhs of employees the Cabinet has decided to restore the Old Pension scheme in the state. The implementation of the scheme is likely to give major relief to the employees of the state. Realizing that employees are the backbone of the government, the state government has taken this historic decision which is likely to benefit all the employees of the state government.

PUNJAB TO GIVE 6% DA TO GOVT STAFF & PENSIONERS FROM OCTOBER 1, 2022

Meanwhile in significant decision, the Cabinet has also decided to give 6% Dearness Allowance (DA) to government employees and pensioners, with effect from October 1,2022. The decision, which will benefit lakhs employees and pensioners, was approved by the Cabinet.

The Council of Ministers opined that the employees were a critical segment of the state administration and safeguarding their interests was the government’s top priority.

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