07 Dec, 2023 10:40 PM

Karnataka's Bold Move: Reshaping Old Pension Scheme Implementation Committee

Karnataka's Bold Move: Reshaping Old Pension Scheme Implementation Committee

The Karnataka government has made a significant decision to reconstitute the committee responsible for evaluating the potential adoption of the Old Pension Scheme (OPS) for government employees who commenced service after 2006. Initially, a solo committee was established earlier this year, led by an additional chief secretary, to investigate OPS implementation for employees presently enrolled in the New Pension Scheme (NPS).

As per Revenue Minister Krishna Byre Gowda, the new committee will comprise three to five members. "Within the next 10 days, we will restructure the committee and set a clear timeframe for the submission of its report," Gowda informed the Legislative Council on Thursday.

Responding to MLC Marithibbe Gowda's query about the committee's delayed report submission, Krishna Byre Gowda, speaking on behalf of Chief Minister Siddaramaiah, mentioned that three meetings were conducted with relevant officials to address the issue.

Highlighting a technical glitch in the implementation process, Gowda referenced the situation in Rajasthan where an order was issued to revert to OPS. "States have been depositing funds under NPS, which are presently locked in the central provident fund. These funds need to be returned to the respective states," he explained.

Furthermore, Gowda noted the lack of response from the Union government regarding the fund return to the states. "This complicates matters as a rushed implementation would mean that only half of the deposited funds would fall under NPS, with the remainder needing allocation under OPS," he emphasized during the Legislative Council session.

Context: The initial single-member committee was formed towards the end of the previous BJP government in Karnataka, following protests by state government employees. In its pre-election manifesto, the Congress pledged to "thoughtfully consider extending the Old Pension Scheme" to government employees joining service after 2006.

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