Chhattisgarh becomes first state to restore old pension scheme: Report

Chhattisgarh has become the first state in the country to restore the old pension scheme in order to provide assured income to retired employees, said an Economic Times report. The state government has sent a proposal to the Pension Fund Regulatory and Development Authority (PFRDA) for the withdrawal of Rs 17,000 crore accrued under the National Pension Scheme since November 2004.

The government issued a notification saying that the old pension scheme will be effective from April 1, 2022. Also, the 10 per cent deduction for monthly contribution from the salary of government employees as a contribution to the new pension scheme