NPS: After PFRDA rejects Chhattisgarh govt’s request, CM urges Modi to refund Rs 17,240 cr collected beneath NPS
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Baghel made this demand to the prime minister days after the PFRDA rejected the state authorities’s request to withdraw Rs 17,240 crore accrued beneath NPS.
In his letter written to Modi on Thursday, Baghel stated his authorities has determined to reinstate the outdated pension scheme (OPS) within the curiosity of presidency officers and workers, and for its implementation the request is being made.
As per the info accessible with the state authorities, Rs 11,850 crore (worker and employer contribution) has been transferred by it to the Nationwide Securities Depository Restricted (NSDL) in the course of the interval from November 1, 2004 to March 31, 2022. The present market worth of this quantity is about Rs 17,240 crore, he stated.
The state authorities had requested the PFRDA on Might 20 this yr to return this quantity to it. Nevertheless, the authority, in a letter dated Might 26 replied that there is no such thing as a such provision accessible beneath which the funds, that are deposited each within the type of authorities contribution and workers’ contribution towardsS, together with accruals might be refunded, he stated.
“There isn’t a such particular provision within the settlement made by the state authorities withS Belief and Nationwide Securities Deposit Restricted (NSDL), which bars the state authorities from withdrawing from the brand new pension scheme and implementing the outdated pension scheme,” Baghel stated.
Within the federal construction, it’s the sovereign choice of the state authorities. It will likely be inappropriate to stop implementation of a call which was introduced within the state finances and later permitted within the cupboard aiming to safe the way forward for workers and their households, he added.
The officers and workers of the state authorities play an essential function within the implementation of welfare schemes of the federal government and the OPS is being carried out for his or her welfare, the chief minister stated, requesting the PM to direct the PFRDA to think about the state’s demand and return the quantity.
