BAGHEL WRITES TO PM, SEEKS REFUND OF RS 17,240 CR DEPOSITED IN NPS

Chhattisgarh Chief Minister Bhupesh Baghel has written a letter to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman, on Friday, requesting to direct the Pension Fund Regulatory and Development Authority to return Rs 17,240 crore transferred to NSDL under the New Contributory Pension Scheme to the Government of Chhattisgarh to implement the old pension scheme without any further delay.

CM in his letter stated that there is no such specific provision in the agreements made by the State Government with NPS Trust and NSDL, which allows the State Government to go out of the contract concerning the new contributory pension scheme and the old pension scheme.

“Through a letter on 20 May 2022, the State Government had requested the Pension Fund Regulatory and Development Authority to return this deposit amount to the State Government,” Baghel said.

According to the data available with the state government, a total of 11,850 crore (employee and employer contribution) has been transferred to NSDL from November 1, 2004, to March 31, 2022. According to the information received from NSDL, at present, the market value of this deposit is about Rs.17,240 crore, CM asserted.

According to Baghel, there is a need to restore the old pension scheme in place of the new contributory pension scheme for all government employees appointed on or after November 1, 2004, in the pensionable establishment of the state government for the betterment of their future.