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Explained: Why govt employees want to restore Old Pension Scheme?

Old Pension Scheme vs New pension scheme: Why govt employees want to restore the old scheme?

Lakhs of Maharashtra state government employees went on an indefinite strike from March 14, seeking restoration of the old pension scheme, hampering functioning of various services and facilities at hospitals

Lakhs of government employees in Maharashtra have gone on strike demanding the restoration of the old pension scheme.&nbsp; From sanitation workers to teachers, paramedics and other govt staff, have all joined the strike for the implementation of the old pension scheme, which comes at a time when board examinations for Classes 10 and 12 are underway.
Under Old Pension Scheme (OPS), the pension amount is provided by the government, which increases its liability, whereas the New Pension Scheme has a contributory mechanism from the employee as well as the government.&nbsp;
It's been almost 20 years since the central government introduced the New pension scheme, in which the beneficiaries will be able to withdraw 60% of the amount invested after retirement.&nbsp; What is Old Pension Scheme? Old Pension Scheme (OPS) is a retirement scheme approved by the central government which provides a monthly pension to the beneficiaries till the end of their life service. Under this, the amount of monthly pension is equal to half of the last salary drawn by an individual.
Employees raised slogans like "Only one mission, restore old pension" outside government offices and hospitals.
Some non-BJP-ruled states including Rajasthan, Chhattisgarh, Jharkhand, Punjab, and Himachal Pradesh have already reverted to OPS and ditched the new pension scheme (NPS).

All you need to know about the Centre's&nbsp;pension benefit schemes&nbsp;for families of deceased Covid-19 patients, and the educational and financial aid for children announced under PM CARES for Children fund.&nbsp;

Explained: what are the benefits announced by Centre for Covid-hit families and orphaned children

The government has announced several financial benefits for the families who lost their earning members to Covid-19 and for children who have been orphaned by the pandemic.
The govt has said it aims to help these families live a life of dignity and maintain a good standard of living through its various measures.
One of the measures announced by the Centre is extension of the Employee State Insurance Corporation pension scheme for employment-related death cases to even those who have died of Covid-19. Under this scheme dependent family members of the deceased will be entitled to pension that is equal to 90% average daily wage drawn by the worker as per the existing norms. It is a retrospective benefit that will be effective from March 24 last year to March 24, 2022.
So, what is the the Employee State Insurance Corporation or ESIC pension scheme.
It is a self-financed social security scheme devised to protect the employees covered under it against financial distress arising out of events of sickness, disablement or death due to employment injuries. The scheme applies to all factories and notified establishments employing 10 or more persons. It is applicable on employees drawing wages up to ₹21,000 per month and ₹25,000 in case of person with disabilities. The current contribution rate is 0.75% of the wages for the employee and 3.25% for the employer. Anyone whose daily wage is ₹137 or less is exempt from employee contribution.
However, the beneficiary needs to fulfil two conditions to receive the pension when it relates to Covid-19. First, the person should have been registered under the scheme on the online portal at least three months prior to the diagnosis of Covid-19 resulting in death. &nbsp;Second, the person must have been employed for wages and contributions to the scheme for at least 78 days should have been paid or payable for the deceased during a period of one year immediately preceding the diagnosis of Covid resulting in death.
The Centre has also enhanced the insurance benefits under the Employees Deposit Link Insurance scheme for those who are registered under EPFO. The govt had announced earlier that the amount of maximum insurance benefit, has been increased to ₹7 lakh from ₹6 lakh. It has also restored the provision of a minimum benefit of ₹2.5 lakh. This benefit is will effective from February last year to next three years.
The eligibility criteria has also been tweaked - benefits will be available to families of even those employees who may have changed jobs in the last 12 months preceding their death. The govt in its statement said it was doing away with the condition of continuous employment in only one establishment to benefit families of contractual and casual workers
EDLI is an insurance cover provided by the&nbsp;Employees Provident Fund Organisation for private sector salaried employees. EPFO covers organisations employing 20 or more employees and any employee who has an EPF account automatically becomes eligible for the EDLI scheme. No separate employee contribution is required for the EDLI scheme, the provident fund contribution cover for it. The employer has to pay 0.5% of the employee&rsquo;s basic salary towards the insurance.
The Modi-govt has also announced a slew of measures to provide financial aid to children who have lost both parents or surviving parent or legal guardian/adoptive parents due to Covid 19 under&nbsp;&lsquo;PM-CARES for Children&rsquo; scheme. According to govt figures 577 children have been orphaned by Covid-19 between April 1 and May 25 this year.
A fixed deposit will be created in the name of the child and PM CARES will contribute to it through a specially designed scheme to create a corpus of ₹10 lakh for each child when he or she reaches 18 years of age.&nbsp;When the child turns 18, he or she will be given a monthly stipend from the corpus for the next 5 give years to take care of his or her personal requirements during the period of higher education. On reaching the age of 23 years, he or she will get the corpus amount as one lump-sum for personal and professional use.
Any orphaned child under the age of 10 years will be given admission in the nearest Kenrdriya Vidyalaya school or in a private school as a day scholar. If the child is admitted in a pay private school, the fees will be paid from the PM CARES fund. It will also pay for uniform, text books and notebooks.
For children in the age of group of 11-18 years, they will be given admission in any Central Government residential school. In case the child is in under the care of a guardian, grandparents or extended family, then he or she will be given admission in the nearest Kendriya Vidyalaya or in a private school as a day scholar. The fees for the private school will be paid from PM CARES and fund will also be used to pay for uniform, text books and notebooks.
The Centre also plans to provide for the higher education of such children. They will be helped in securing education loan for professional courses and higher education in India, the interest for which will be paid from PM CARES fund.&nbsp; Scholarship equivalent to the tuition fees or course fees for undergraduate or vocational courses as per Government norms will be provided to such children as an alternative. For those who are not eligible under current scholarship schemes, an equivalent scholarship will be given from PM CARES.
All children will be enrolled as a beneficiary under Ayushman Bharat Scheme with a health insurance cover of&nbsp; ₹5 lakh and the premium will be paid from PM CARES fund till the child turns 18.
The Modi-govt has however been criticised for announcing financial aid that will help a child in future instead of the giving them the support they need currently.
Political strategist Prashant Kishore tweeted that &ldquo;instead of receiving much needed support NOW, the children should feel POSITIVE about a PROMISE of stipend when they turn 18. Taking a jibe at the promise of free education he said children will now have to be grateful to the PM for what is already a right guaranteed under Right to Education.
&nbsp;((BITE: Surjewala &ndash; the govt left these people to die.
OR
Supria Srinate &ndash; people did not die because of Covid, they died because of the PM))
Even as the govt announced these measures, the Congress has lashed out at it for bringing the country to this point and said that the govt and Covid is responsible for these deaths.
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All you need to know about the Centre's&nbsp;pension benefit schemes&nbsp;for families of deceased Covid-19 patients, and the educational and financial aid for children announced under PM CARES for Children fund.&nbsp;

Corporatisation of Ordnance Factories

The Government on September 11 has set up an Empowered Group of Ministers (EGoM) headed by Defence Minister Rajnath Singh for corporatisation of the Ordnance Factory Board (OFB). Other ministers in the EGoM are the Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, Minister of Law &amp; Justice Ravi Shankar Prasad, Minister of State for Labour &amp; Employment Santosh Kumar Gangwar and Minister of State for Personal, Public Grievance &amp; Pensions Jitendra Singh. The EGoM is to oversee and guide the entire process, including deciding on conversion of OFB into a single Defence Public Sector Undertaking (DPSU) or as multiple DPSUs, matters related to various categories of employees including transition support and redeployment plan of employees, &nbsp;protection of their salary and pension of existing employees and treatment for land assets of OFB.

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