NPS is different from the old pension scheme, these are two special things||AllBestNews||

NPS is different from the old pension scheme, these are two special things

The country's retired paramilitary forces are demanding the removal of the new pension scheme and implementing the new old pension scheme.

Long time retarded paramilitary forces are demanding implementation of Old Pension Scheme. These paramilitary forces are now mobilizing the Jantar Mantar of Delhi on 3rd March to persuade their demands. These retired soldiers coming from different parts of the country demand that the government remove the existing pension scheme NPS and get the old pension scheme Apply it. But the question is, why is there a demand to finish the new pension scheme. How much shock the pockets of the paramilitary forces are from this plan. Today we will give this information in this report.

Difference of Old Pension Scheme and NPS

If you talk about old pension plans, then the army and paramilitary forces got a kind of pension. In the old scheme, the pension is determined according to the figures of the last basic salary and inflation rate of the government employee. But the new pension scheme (NPS), implemented since 2004, is determined by the total deposited amount and return on investment. However, under NPS there are some facilities which were not available in the old scheme. For instance, the government's contribution in NPS will be 14 per cent of the basic salary of the employees. At the same time, tax exemption on the amount deposited under this scheme has been brought under the purview of Section 80C of Income Tax. This facility was not in the old pension scheme.

Reasons for old scheme demand

Indeed, the paramilitary forces are demanding the reinstatement of old pension scheme mainly because it has no contribution to the employees and guaranteed pension. While the new pension scheme does not return the returns. This means that people who get a pension can also be harmed if they do not get good returns in the new scheme. In spite of good returns, new employees may get good money in the future even during retirement, compared to old schemes of provident fund and pension. But you want to avoid retired paramilitary force game.

Explain that the Government launched National Pension Scheme for Government employees in January 2004. Since the arrival of the government employees, they started coming under NPS instead of the old pension scheme.

How is the use of NPS

Under the NPS, any government employee can invest in a pension account during his tenure. At the same time retire, the account holder can withdraw 75 percent of his lump sum amount. On the other hand, one can buy an annual plan from the rest of the money in which regular income of the month can be arranged.