Restoration of old pension scheme not possible: Botcha Satyanarayana

Botcha Satyanarayana
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 Botcha Satyanarayana

Highlights

Says though CM promised abolition of CPS, after thorough consideration the govt concluded that it is not possible to implement the old pension scheme

Vijayawada: Stalemate continued in discussions between the state government and employees association on abolition of Contributory Pension Scheme (CPS). The ministers committee held talks with the CPS employees association at the secretariat on Wednesday. However, some associations boycotted the meeting demanding implementation of old pension scheme (OPS).With the continuation of stalemate, the meeting concluded without any breakthrough.

Speaking on the occasion, minister Botcha Satyanarayana said that as per the promise of Chief Minister YS Jagan Mohan Reddy on abolition of CPS the state government studied the issue and came to the conclusion that implementation of old pension scheme is not possible with the increasing financial burden.

As a result, the government came forward with alternative proposal of Guaranteed Pension Scheme (GPS) which guarantees minimum pension to the employees. He said the government will conduct further meetings with the employees' associations.

Govt advisor Sajjala Ramakrishna Reddy said the government put before the employees some proposals. He said the state government examined the financial burden if old pension scheme is implemented. Keeping it in view, the government proposed guaranteed pension scheme with best possible package, he added.

Stating that the government was committed to provide minimum pension guarantee to employees, he said the government proposed a minimum pension of Rs 10,000 and extension of insurance scheme to employees after retirement. He said the government was ready to make further changes in the proposal. He said as the government is not in a position to implement old pension scheme, it is coming out with new proposals.

Meanwhile, CPS employees association leaders said that they demanded the government implementation of old pension scheme as per the promise of Chief Minister YS Jagan Mohan Reddy.

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