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Himachal CM seeks return of money deposited for New Pension Scheme from Centre -Gaurav Bisht

-Hindustan Times

The Himachal Pradesh government has written to the Centre asking for a refund of the money deposited for the New Pension Scheme, chief minister Sukhvinder Singh Sukhu announced on Wednesday.

Shimla: The Himachal Pradesh government has written to the Centre asking for a refund of the money deposited for the New Pension Scheme (NPS), chief minister Sukhvinder Singh Sukhu announced on Wednesday, moving another step closer to fulfilling the poll promise of reinstating the Old Pension Scheme (OPS).

Himachal Pradesh has sought Rs. 7,500 crore from the Centre, according to an official in the financial department who is aware of the contents of the letter.

Reinstating OPS, which is more generous to government employees than NPS, was one of the main poll planks of the Congress, which won 40 of the state’s 68 seats in the recently concluded assembly elections.

A number of other states ruled by parties opposed to the Bharatiya Janata Party, such as Rajasthan, Chhattisgarh and Punjab, have also moved towards restoring OPS (where inflation-indexed pension payouts are borne by the government, unlike in NPS, which is funded by the employer and employee both) but experts say that this will increase the fiscal burden on state governments.

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