Karnataka Govt To Implement Old Pension Scheme For 13,000 Employees

The Karnataka government has issued a notification to cover around 13,000 state government employees recruited after 2006 under the Old Pension Scheme.

Chief Minister Siddaramaiah stated that he committed to fulfil this demand to government employees during their strike over the new pension programme.

"An order has been issued to cover the old pension scheme to about 13,000 government employees of the state government recruited after 2006. Even before the election, I visited the place when the National Pension System (NPS) employees were on strike and promised to fulfil the demand after we came to power," he posted on X.

Under the old pension scheme, a government employee was entitled to a monthly pension upon retirement. The monthly pension is normally equal to half of the person's last drawn wage.

Employees under the new pension scheme contribute a percentage of their salaries to the pension fund. As a result, they are eligible to a lump sum payment from superannuation.

The former pension scheme expired in December 2003, and the new programme went into effect in April 2004.