ITANAGAR, The National People’s Party (NPP) state unit on Saturday urged the state government to scrap the new National Pension Scheme (NPS) or to implement it with certain modifications for the convenience of its employees during the service and after the retirement.
Addressing the newspersons at Arunachal press club (APC) the State NPP general secretary and former MLA Paknga Bage suggested the state government implement NPS with certain modifications by adopting an old pension system for the deceased or the per-mature existing employees on or before 15 years of service length.
And if such modifications cannot be made than the new NPS should be scrapped out and replace it with old pension scheme for greater interest of the state government employees, he added
In this matter, the political party had roundtable discussions with all possible state employees federations, and has concluded that if such modifications cannot be done than the new NPS should be scrapped out and implement old pension scheme back, Bage informed
“The party is concern regarding the implementation of new NPS in the state because 10 percent of the state population depends on the government service sector and 15 years of government service is a mere amount to support one’s family”, said Bage
We want to spread awareness among the state government employees who are still not aware of the issue about its benefit and loss with this press and media, he added
The state NPP GS pointed out six demerits of the new NPS such as; lesser benefits (for the government employees) than the earlier pension scheme, withdrawal limits, taxation at the time of withdrawal, account opening restrictions, investment restrictions and no guaranteed returns.
We believe that the state government will look into the matter for the welfare of the state government employees, said Bage.
Since January 2004, the central government has imposed a new pension system known as the NPS for the government employees recruited after 31 December, 2003, to replace the old pension scheme and since then several employees federation of various states of the country area also opposing the NPS and demanding for replacing it with the old pension scheme.