Fact Check: Has SC scrapped the new pension scheme and revived the old scheme?
A post claiming that the Supreme Court has ruled that the old pension scheme will be restored in place of the current scheme is viral on social media.
By Newsmeter Network Published on 19 March 2022 2:30 PM GMT
Hyderabad: A post claiming that the Supreme Court has ruled that the old pension scheme will be restored in place of the current scheme is viral on social media. The headline reads, "The Supreme Court rejected the amendment made in the new pension scheme."
Social media users are sharing the post with the text, "The Supreme Court has given a historic ruling to renew the old pension, and ordered all states across the country to provide the old pension scheme to their employees as soon as possible. With the verdict of the Supreme Court, happiness has spread in the faces of all the employees again."
Fact Check
The NDA government under Atal Bihari Vajpayee in 2003 had scrapped the Old Pension Scheme (OPS) and introduced the National Pension Scheme (NPS) from 1 April 2004.
The Supreme Court has not ruled that the new pension scheme should be abolished and the old pension scheme be revived. The apex court has made no comments on the implementation of the old pension policy. If it had issued such a judgment, the media would have reported it. But we found no news reports about the same.
Last month, Rajasthan Chief Minister Ashok Gehlot had announced the introduction of the old pension scheme for government employees. Similarly, last week, the Chhattisgarh Chief Minister also announced that the old pension policy in the state would be revived. In a similar vein, there are demands in many states to abolish the new pension scheme and revive the old pension scheme.
However, the Centre has no intention of scrapping the existing NPS for the government employees and reverting to the old pension scheme. It does not intend to repeal the new pension scheme and restore the old one. (Source: Hindustan Times)
The NPS was initiated by the Central government to get rid of pension liabilities. It allows beneficiaries to decide where they want to invest their money. Under the old pension scheme, the government and employees contributed an equal portion towards the pension fund.
Hence, the Supreme Court has not repealed the new pension scheme and revived the old pension scheme.
