Railway Workers in Dhanbad strike for Return to Old Pension Scheme

A faction of railway employees from the Dhanbad division in Jharkhand initiated a fast on Monday morning to push for the reinstatement of the old pension scheme (OPS), opposing the current New Pension Scheme (NPS). The NPS mandates that an employee contributes 10% of their basic salary along with dearness allowance, matched by a government contribution.

According to NK Khawas, spokesperson for the East Central Railway Karmachari Union (ECRKU), over 22,000 employees from the Dhanbad railway division are participating in the day-long fast. In addition to the fast, a group of employees staged a dharna at the office premises of the divisional railway manager and other locations within the division.

OP Sharma, zonal secretary of the All India Railway Mens' Federation (AIRMF), emphasized that despite the central government's formation of a committee to enhance benefits under the NPS, employee organizations are adamant about reinstating OPS and will settle for nothing less.

Sharma noted that various states, including Jharkhand, have reverted to the old pension scheme for their employees and pressed for the central government to follow suit. Under OPS, government employees receive a monthly pension equal to 50% of their last drawn salary without any contribution required from employees.

In contrast, the NPS mandates a 10% contribution from employees, alongside a matching government contribution. These funds are then invested in Pension Fund Regulatory and Development Authority (PFRDA) approved schemes, with returns subject to market fluctuations.