After Himachal Pradesh, Maharashtra government considers returning to Old Pension Scheme

The Maharashtra Government is positive about implementing the Old Pension Scheme for teachers and government servants, Maharashtra Chief Minister Eknath Shinde announced on Saturday before the election for the legislative council. Recently, the Himachal Pradesh government reinstated the Old Pension Scheme(OPS) for state government employees. 

"The government is positive about the old pension scheme for teachers and government employees, non-aided schools, and also for 25 per cent reservation in English medium schools.” Shinde was quoted by the news agency PTI.

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The education department is studying the old pension scheme. Shinde's declaration comes about a month after Devendra Fadnavis, the deputy chief minister and finance minister of Maharashtra, declared that the state government would not return to OPS because doing so would burden the exchequer with a debt of approximately 1.10 lakh crore and cause the state to go bankrupt.

Under the former pension plan, government employees were entitled to a defined pension that was equal to 50% of their final drawn salary. Government employees must, however, contribute a percentage of their present income to their pensions under the new pension plan.

The Maharashtra Chief Minister stated that his government will reply to the opposition's comments regarding investment proposals just finalised at the Davos summit through its efforts. He also questioned the standing of various Memoranda of Understanding (MoU) that were signed by the previous Maha Vikas Aghadi (MVA) administration.

(with inputs from PTI)