Many opposition Parties supported to protest, which was held in Ramlila Maidan. Many Opposition parties have Tweeted on Twitter for the restoration of the Old Pension Scheme.
In the old pension Scheme, employees could get 50% of their last drawn salary plus a dearness allowance on retirement from service. In the old pension scheme, the employee doesn’t have to contribute to their own pension.
But in the New pension scheme, individual savings will be pooled during the employment period. As government have given choice to individuals to either the Public sector or private sector bank.
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Cause of Protest in Ramlila Maidan
The central government announced the new pension scheme because the old pension scheme was without the contribution of employee share that was fixed pay, now new pension Scheme will contributions from both employees and employers that will give as per market-based value not fixed amount.
The employees are worried about their future after retirement. It will apply to those who joined the service after 1 January 2004 (Except for the armed forces) who are opposing the new pension scheme because they have to force an old pension from the new pension scheme. New Pension is Also called the Contribution-based pension scheme now called NPS ( National Pension Scheme).
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National Mission for Old Pension Scheme (NMOPS) leader Vijay Kumar Bandhu” said that we are spreading awareness for restoring the old pension scheme all over the country, and he said we have resorted in five states to not apply the old pension scheme through our efforts.
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