Excelsior Correspondent
JAMMU, Mar 11: The National Movement for Old Pension Scheme (NMOPS) J&K Unit has reiterated its demand for the restoration of the Old Pension Scheme (OPS) over the New Pension Scheme (NPS) during a meeting held in Jammu, today.
Led by UT President Mohammad Ashraf, NMOPS, representing Central and State Government employees, advocated scrapping the NPS, implemented in 2003, and reverting to the OPS.
Mohammad Ashraf highlighted the shortcomings of the NPS, including lesser benefits, withdrawal limits, taxation upon withdrawal, investment restrictions, and absence of guaranteed returns.
He emphasized that the NPS relies on market investments, jeopardizing the financial security of employees and their families.
Vishal Manhas, UT Senior Vice-President of NMOPS stated that despite submitting memorandums and reminders to the Government, there has been no response on the issue so far.
He pointed out that several States have already scrapped the NPS and reinstated the OPS, urging the Jammu and Kashmir Government to follow suit for the welfare of state employees.
Present at the meeting were UT Additional General Secretary Mohan Singh, UT Advisor Neetan Kalyan, UT Chief Convenor Rajeev Sharma, UT Treasurer Raman Sharma, UT Chief Organizer Amar Mooman, and Provincial President Jammu Tarun Gupta, among others.
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