Latest news with #NewPensionScheme
Hans India
2 days ago
- Business
- Hans India
We will take steps to implement Old Pension Scheme in K'taka: CM Siddaramaiah
Bengaluru: Chief Minister Siddaramaiah announced on Wednesday that the state government would discuss and initiate necessary steps to implement the Old Pension Scheme (OPS) in Karnataka. He was speaking after inaugurating the Diamond Jubilee celebrations of the Karnataka Power Transmission Corporation Employees' Association and releasing the commemorative publication 'Vajra Jyoti'. 'Ours is a government that lives up to its words. We will examine your demands and take appropriate action. The New Pension Scheme (NPS) was implemented by the Central Government, but we had declared in our party's manifesto that we would implement the Old Pension Scheme (OPS). We will hold discussions and take the necessary steps,' the Congress leader assured. CM Siddaramaiah announced that 35,000 vacant posts in the Power Transmission Department would be filled in phases and that the services of 532 contract civic workers in the department would be regularised. Recalling Karnataka's legacy in the power sector, CM Siddaramaiah noted, 'Asia's first electricity production began in Karnataka in 1902. The first power distribution company in Bengaluru started in 1905, and electricity was supplied to the Mysore Palace for the first time in 1908. Today, Karnataka has the proud distinction of producing 34,000 megawatts of power.' CM Siddaramaiah further analysed, 'Our self-reliance in food production is largely due to our self-reliance in electricity generation.' CM Siddaramaiah stated that the Congress-led government aims to ensure seven hours of daytime power supply to farmers for agricultural pump sets. 'We are working towards this goal. Once we reach a production capacity of 60,000 megawatts, this will become possible. We must remember that electricity is a vital component of our economy,' he stressed. Addressing the gathering, Deputy Chief Minister D.K. Shivakumar stated, 'I assure you that as long as Chief Minister Siddaramaiah and I are in power, we will not allow the privatisation of Electricity Supply Companies (ESCOMs) in the state.' He stated, 'When I became the Energy Minister, the BJP came to power at the Centre. In cities like Mumbai and Delhi, ESCOMs were handed over to private players. I, too, was pressured to do the same in Bengaluru. At that time, I told them that our staff, engineers, and management Board are strong and capable enough to run the ESCOMs efficiently. As long as Chief Minister Siddaramaiah and I are here, ESCOMs will not be privatised in Karnataka.' 'Your demands are in consideration. The Old Pension Scheme is also part of our manifesto, so don't worry about that,' Dy CM Shivakumar stressed. 'When I took charge of the department, transmission losses stood at around 19–20 per cent. We have reduced this to 10 per cent, which is a model for the entire country. In many other states, losses are still around 17–18 per cent. "All thanks to the efforts made by all of you, the Energy Department has grown stronger. Minister for Energy, K.J. George, who currently heads this department, is leading it with great transparency and efficiency. We had taken several revolutionary decisions in the past as well,' Shivakumar added. 'When the issue of promotions came up earlier, I made a decision in just one day. Whenever a Congress government comes to power, it works for your well-being. Remember this — Chief Engineers in KPTCL and ESCOMs receive the same salary as an IPS officer. Let your love and trust remain with us,' Shivakumar added. Energy Minister K.J. George on Wednesday said that the state government fully supports the KPCTL Employees' Association, recognising its commitment to aiding the successful implementation of pro-people initiatives across Karnataka.
NDTV
11-06-2025
- Business
- NDTV
NICL AO Recruitment 2025: Notification Released For 266 Posts, Check Details
NICL AO Recruitment 2025: The National Insurance Company Limited (NICL) has officially announced its recruitment drive for the year 2025, inviting applications for 266 Administrative Officer (AO) positions. The application window will open on June 12, 2025, and remain active until July 3, 2025. Interested candidates can apply through the official website of NICL. Of the total vacancies, 170 posts are for Generalist Officers, while 96 positions are reserved for Specialists. The specialist roles span multiple disciplines including Finance, Legal, IT, Automobile Engineering, and Medicine (MBBS), making this a diverse and inclusive recruitment process for candidates from various academic backgrounds. This recruitment drive not only offers a stable career in the public sector but also opens doors for career growth in one of India's leading government-owned general insurance companies. Selection Process The selection process will consist of three phases: a Preliminary Examination (Phase I), a Main Examination (Phase II), and a Personal Interview followed by document verification. The preliminary exam is tentatively scheduled for July 20, 2025, while the main exam is expected to be held on August 31, 2025. Admit card details will be announced later. Candidates must qualify in each phase to move to the next stage, and the final merit list will be prepared based on the combined performance in the main exam and interview. Application Fee Applicants are required to pay a non-refundable application fee during the registration period, which runs from June 12 to July 3, 2025. The fee is Rs 250 for SC, ST, and PwBD candidates, which includes only intimation charges, while all other candidates will need to pay Rs 1000, inclusive of application and intimation charges. Educational Criteria To be eligible, candidates applying for Generalist Officer roles must possess a graduation degree in any discipline from a recognized university. Those applying for Specialist Officer roles need to have specific qualifications relevant to their field, such as MBBS for Medical Officers, CA for Finance, LLB for Legal, and so on. The detailed eligibility criteria are outlined in the official notification available on the NICL website, and candidates are strongly advised to review it before applying. Age Criteria As for the age criteria, applicants must be between 21 and 30 years of age as of May 1, 2025. This means that eligible candidates should have been born no earlier than May 2, 1995, and no later than May 1, 2004. Salary Selected candidates will be offered a basic monthly salary of Rs 50,925, which falls under the pay scale of Rs 50925-2500(14)-85925-2710(4)-96765. Including allowances and benefits, the total monthly emoluments are expected to be around Rs 90,000 in metropolitan areas. In addition to this, NICL provides several perks such as pension under the New Pension Scheme (NPS), gratuity, medical benefits, leave travel subsidy, and group personal accident insurance. Doctors selected for Specialist roles will also be eligible for a Non-Practicing Allowance (NPA) amounting to 25% of their basic pay, subject to prevailing rules.
News18
30-05-2025
- Business
- News18
Unified Pension Scheme: Retired Govt Employees With Over 10 Years' Service To Get Additional Benefits
Last Updated: The government announces that central government NPS retirees by March 31, 2025, with at least 10 years of service, can claim extra benefits under the UPS. In a major relief for retired central government employees, the central government has said that the central government NPS (National Pension System) subscribers who retired on or before March 31, 2025, with a minimum of 10 years of qualifying service, are now eligible to claim additional benefits under the Unified Pension Scheme (UPS) — over and above the regular NPS benefits they may have already availed. This benefit can also be claimed by the legally wedded spouse of the eligible retiree. 'The Central government NPS subscribers who retired on or before 31/03/2025 with minimum 10 years of qualifying service or their legally wedded spouse can claim the following additional benefits under Unified Pension Scheme (UPS), over and above the NPS benefits already claimed," the finance ministry said in a statement on Friday, May 30, 2025. What Are the Additional Benefits? Eligible retirees will receive a lump sum amount equivalent to one-tenth of their last drawn basic pay plus applicable dearness allowance (DA) for every completed six months of qualifying service. Monthly Top-Up Pension A monthly top-up will be calculated based on the UPS payout combined with dearness relief (DR), after deducting the representative annuity amount already received under NPS. How to Claim the Benefits? Physical Mode: Form B2 for the subscriber Form B4/B6 for the legally wedded spouse Forms can be downloaded from: Online Mode: Visit the same website and fill out the online form for quick processing. Important Deadline The last date to claim the UPS benefits is June 30, 2025. Applicants are advised to apply well before the deadline to avoid last-minute issues. Need Help? For more information, join the official webinar hosted by PFRDA at: Or call the UPS Help Desk (Toll-Free) at 1800 571 2930. The Cabinet in August 2024 approved the Unified Pension Scheme (UPS), for an assured pension post-retirement. The UPS has been implemented from April 1, 2025. The move comes after the long-pending demand of the central government employees to reform the new pension scheme (NPS). It is the latest pension scheme for government employees. Under the UPS, there will be a provision of a fixed assured pension, unlike the New Pension Scheme (NPS) which does not promise a fixed pension amount. Under the Unified Pension Scheme, the assured payout will be calculated based on the last 12-month salary, months of qualified service, and retirement corpus. First Published:
The Hindu
25-05-2025
- Business
- The Hindu
Provide detailed information to staff on Unified Pension Scheme, directs Railways Ministry
There was an urgent need to ensure wide and effective communication among all employees regarding options available under the Unified Pension Scheme (UPS), the Union Ministry of Railways has said. In a written communication addressed to the Principal Chief Personnel Officers of all 17 Railway Zones, the Ministry said that an immediate and proactive measure was needed to "disseminate clear, accurate and comprehensive information about the available options under the UPS". "It is essential that employees are well-informed and supported in making their decisions," the Ministry said. The Ministry also urged officials to organise facilitation camps at various locations, ensuring adequate support from human resources, and finance personnel, and subject matter experts. "These camps should serve as a platform for employees to seek guidance, clarify doubts and complete their registration process with ease," the circular dated May 21 said. "Additionally, you are requested to maintain detailed records of the facilitation camps conducted, including dates, location, the number of employees who attended and those who completed their registration," the Ministry added. The Union Government has introduced the New Pension Scheme (NPS) for new recruits, and provided options to the present employees to choose between the existing NPS, or the UPS.
Indian Express
24-05-2025
- Politics
- Indian Express
In major relief, Punjab govt notifies implementation of Old Pension Scheme for nearly 2,500 employees
In a huge relief to nearly 2,500 government employees in Punjab, the state government Friday issued a notification implementing the Old Pension Scheme (OPS) for employees whose posts were advertised or appointment letters were issued before January 1, 2004, but who had joined the service later. These employees were earlier covered under the New Pension Scheme (NPS) despite their pre-2004 recruitment process, prompting them to seek judicial intervention. The notification, dated May 23, 2025, follows a Punjab and Haryana High Court directive, bringing to a close a long legal battle fought by the affected employees. Many of them have already completed more than 20 years in service. The employees are from various departments, including the Punjab State Power Corporation Limited (PSPCL), education, local bodies, and others. According to the amended rules under the Punjab Civil Services Rules, Volume II, OPS will now apply to employees who joined after January 1, 2004, provided their posts were advertised or appointment letters were issued before that date. Employees appointed on compassionate grounds after January 1, 2004, will also be covered under OPS if the request for appointment and eligibility conditions were fulfilled before January 1, 2004. Eligible employees will be given the option to choose between OPS and the New Defined Contributory Pension Scheme (NPS). If no option is exercised within three months from the notification date, they will be deemed to have opted for NPS. Jasvir Talwara, convenor of the Purani Pension Bahali Sangharsh Committee, welcomed the decision and termed it a victory for justice. 'These employees were unfairly placed under NPS despite having fulfilled all conditions for OPS. The May 23 notification is a big win for them,' he said. Talwara added that the government must now act swiftly to comply with the high court's direction to open General Provident Fund (GPF) accounts for the 2,500 employees by May 28, 2025, so the implementation process of OPS can begin. However, he also raised concerns that around 2 lakh other employees, who joined service after January 1, 2004, continue to be excluded from OPS despite promises made by the Aam Aadmi Party (AAP) before the 2022 Assembly polls. 'The government issued a notification in November 2022 promising OPS for all, but implementation has not happened. Instead, AAP ministers are now urging us to consider the Unified Pension Scheme introduced by the Centre last year, which we reject,' Talwara said. While Chief Minister Bhagwant Mann recently reiterated the implementation of OPS for employees with pre-2004 appointments, he made no mention of the larger group of post-2004 employees still awaiting relief. The OPS notification for the 2,500 employees marks a partial fulfilment of the government's commitment, but the larger demand for a complete rollback of NPS remains unresolved, said Rajat Mahajan, president of the Purani Pension Bahali Sangharsh Committee. In the first week of May, the committee members highlighted the case of Sarwan Singh who retired as a drawing teacher on July 31, 2021, under NPS. Singh now gets a pension of just Rs 4,520 per month and earns a living by setting up a burger stall in Hoshiarpur's Dasuya. It is just the tip of the iceberg, said Mahajan. The committee urged the Punjab government to remember the promises it made in 2022 before coming to power.
