In accordance with the prior scheme, employees were given a pension that was equal to 50% of their final paycheck.
Bhagwat Karad, a minister of state for finance, stated that there was no suggestion for the Old Pension System to be reinstated, on Monday. Assam, Kerala, and Andhra Pradesh have all appointed committees to investigate OPS, and numerous states have started a campaign for the reinstatement of the pension scheme.
In accordance with the prior scheme, employees were given a pension that was equal to 50% of their final paycheck. Additionally, they gain from the Dearness Relief's biannual adjustment (DR). The remuneration was predetermined, and there was no salary deduction. Additionally, the OPS included the General Provident Fund (GPF).
Only employees of the Indian government have access to GPF. It enables everyone employed by the government to contribute a portion of their salary to the GPF.
The full sum that has accrued during the course of employment is paid to the employee at the time of retirement.
The National Pension System, on the other hand, is a voluntary defined contribution retirement savings programme designed to support participants in making the best decisions for their future through methodical saving throughout their working life.
The NPS strives to support people in creating retirement savings habits. The new pension plan aims to provide a lasting solution to the problem of providing each Indian with adequate retirement income.
Individual deposits made as part of the NPS are pooled into a pension fund and invested by PFRDA-regulated professional fund managers in accordance with authorised investment guidelines in a variety of portfolios that include stocks, bonds, and government and corporate bills as well as other securities.
These contributions would rise and accumulate until retirement based on the returns on the investments made.
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 "National Pension Scheme: Know why central govt employees are protesting? How NPS is different from OPS?")
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