The Central Government has bluntly said that the money of the New Pension System (NPS) will be returned only after the retirement or death of the employee in Himachal Pradesh.
PFRDA has sent a clarification to the Himachal government in this regard. 8000 crore rupees of the state government are stuck in the center.
Every year 1500 to 1600 crore rupees of government employees are being deposited in NPS.
Implementation of the Old Pension Scheme (OPS) on the ground in Himachal Pradesh has become a big challenge for the present government. The financial condition of the government is not good.
Central government agency Pension Fund Regulatory and Development Authority (PFRDA) is stuck with 8000 crores of employees and state government, which is payable after retirement in the form of NPS pension.
Under the New Pension System (NPS), government employees contribute 10 percent of their salary monthly to the PFRDA, while the state government contributes 14 percent.
A state government official has admitted that the PFRDA’s clarification has come in this regard that NPS money can be returned only under two circumstances.
These can be returned only in the event of retirement and death. In this regard, the situation has been clarified to other states in the same way.