Applicability of old pension scheme
5 months ago
I was given appointment letter in December 2009, for joining, then Corporation bank( Government Bank). However i could join on April 15, 2010, as my mark sheet was available only then. However, the NPS was made application from April 1, 2010, and as a result i was given NPS instead of OPS. Recently central government has allowed for its employees to join OPS if their offer letter was issues to prior implementation of NPS.
I wish to understand if i can claim the same for my self and opt for OPS as against NPS.
A.Dear Sir,
Yes, you can opt for OPS and if rejected you may go to Service Tribunal or High Court to get justice.
Yes, you can opt for OPS and if rejected you may go to Service Tribunal or High Court to get justice.
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A.Dear Client,
The contributory pension system, later termed the National Pension System (NPS), began on 22 December 2003, applied from 1 January 2004. It expanded to all Indian citizens, including self-employed professionals and the unorganised sector from 1 May 2009, on a voluntary basis. Those central government employees whose appointment was made against the posts or vacancies advertised or notified for recruitment before the notification for NPS i.e. 22.12.2003 are eligible to switch to the old pension within November 30, 2023. So, considering the date of implementation of NPS and your appointment/joining on 15/04/2010 that is after the implementation of NPS, you may not be eligible or allowed for switch over to OPS from NPS. However, you can approach once to PFRDA for the same to ensure your eligibility.
The contributory pension system, later termed the National Pension System (NPS), began on 22 December 2003, applied from 1 January 2004. It expanded to all Indian citizens, including self-employed professionals and the unorganised sector from 1 May 2009, on a voluntary basis. Those central government employees whose appointment was made against the posts or vacancies advertised or notified for recruitment before the notification for NPS i.e. 22.12.2003 are eligible to switch to the old pension within November 30, 2023. So, considering the date of implementation of NPS and your appointment/joining on 15/04/2010 that is after the implementation of NPS, you may not be eligible or allowed for switch over to OPS from NPS. However, you can approach once to PFRDA for the same to ensure your eligibility.
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A.Dear Client
Reach out to the Human Resources (HR) department or the Pension Cell of Corporation Bank. They should be able to provide information on the eligibility criteria and the process for opting for OPS. Carefully review your appointment letter, as it may contain information about the pension scheme applicable to you and any provisions related to the choice between OPS and NPS. Stay informed about any government notifications or circulars that may impact the pension scheme options for employees of government banks.
Reach out to the Human Resources (HR) department or the Pension Cell of Corporation Bank. They should be able to provide information on the eligibility criteria and the process for opting for OPS. Carefully review your appointment letter, as it may contain information about the pension scheme applicable to you and any provisions related to the choice between OPS and NPS. Stay informed about any government notifications or circulars that may impact the pension scheme options for employees of government banks.
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