7th Pay Commission Latest News: At a time when over 50 lakh Central government employees and as many as pensioners are waiting for Centre’s nod to a hike in minimum pay and fitment factor beyond 7th Pay Commission recommendations, four lakh defence sector civilian workers launched a 3-day strike from January 23 demanding restoration of the Old Pension Scheme (OPS) and scrapping of National Pension System (NPS).
(7th Pay Commission Good News: Centre Announces Decisions to Benefit Central Government Employees)
The strike, which will end on January 25, was joined by workers of ordnance factories in Shajahanpur district of Uttar Pradesh on Thursday participated in the nationwide strike. The workers threatened to go on an indefinite strike if their demands are not fulfilled. “We demand National Pension System (NPS) to be scrapped & old pension scheme to be restored. We’ll go on indefinite strike if demands are not fulfilled,” a worker was quoted as saying by news agency ANI.
Meanwhile, if reports are to be believed, the central government is likely to bring changes in New Pension Scheme also known as National Pension Scheme (NPS) for employees, who are waiting for a hike in minimum pay and fitment factor beyond 7th Pay Commission recommendation. An announcement in connection with the matter is likely by next week.
What is NPS?
The National Pension Scheme (NPS) is a government sponsored scheme for government employees. It was launched in January 2004. However, in the year 2009, it was opened up to all sections. On the basis of 7th Pay Commission recommendation, a committee of secretaries was set up which submitted its report in 2018. The Union Cabinet approved the decision of hiking Centre’s contribution to NPS on the basis of the draft.