Eligible employees given one-time option to switch from NPS to Old Pension Scheme
Srinagar, September 28: The Jammu & Kashmir Government has extended the benefit of the Old Pension Scheme (OPS) to thousands of employees appointed against posts advertised or notified before December 24, 2009, but who subsequently joined service under the New Pension Scheme (NPS).
The decision, taken by the Council of Ministers chaired by Chief Minister Omar Abdullah earlier this month, has now been implemented through a Government order.
Under the order, employees appointed against posts that were advertised or notified before December 24, 2009, but who joined service under the NPS, have been given a one-time option to switch to the OPS.
Eligible employees will have to exercise the option through the proper channel within three months from the date of issuance of the Government order.
The Government has clarified that the option, once exercised, will be final.
Employees who do not exercise the option within the stipulated three-month period will continue to remain covered under the NPS.
The decision fulfils the Council of Ministers’ earlier decision to extend OPS coverage to employees whose posts had been advertised or notified before December 24, 2009, providing eligible employees an opportunity to opt for the Old Pension Scheme.
