Maharashtra Deputy Chief Minister Ajit Pawar announced a reconsideration of his stance on the old pension scheme (OPS). He emphasised on the state government's goal of striking a balance between salaries, pension payments, and fiscal impact
Ajit Pawar/ File Photo
Maharashtra Deputy Chief Minister Ajit Pawar announced a reconsideration of his stance on the old pension scheme (OPS). He emphasised on the state government's goal of striking a balance between salaries, pension payments, and fiscal impact, stated a report in PTI.
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Pawar, according to the report, signalled a potential rethink on the discontinued OPS during discussions with Chief Minister Eknath Shinde and Deputy CM Devendra Fadnavis in Nagpur, a demand echoed by numerous government and semi-government employees in Maharashtra since its halt in 2005.
For government employees, the OPS guaranteed a monthly pension equal to 50% of the last drawn salary, with no contribution requirements; in contrast, the New Pension Scheme requires a 10% state-matched contribution from the base salary plus dearness allowance, invested in PFRDA-regulated approved pension funds with market-linked returns.
Pawar was quoted in PTI as saying, "While Devendra Fadnavis and I opposed the OPS previously, I've learned that the Centre is considering addressing this issue, potentially benefiting citizens financially."
He emphasised potential financial benefits for eligible individuals starting in 2021 and highlighted the Center's concentrated efforts before the upcoming Lok Sabha polls in 2024.
In response to inquiries concerning a shift in position after the BJP's defeats in the state MLC elections earlier this year, Pawar stated that it was a major factor. "If a decision adversely affects people, as politicians, we reconsider," he said.
Discussions indicate that the leadership of the state wants to strike a balance between pension payments, salaries, and state spending, the report added.
He was quoted in PTI as saying, "Chief Minister Eknath Shinde, Deputy CM Devendra Fadnavis and I have already held a primary discussion over the issue of the OPS. We want to strike a balance between the salaries, pension amount and its burden on the state's coffers."
Pawar also drew attention to societal changes, voicing worries about the younger generation's waning duty to take care of their ageing parents and emphasising the necessity of financial planning for life after retirement. He made light of his 83-year-old uncle, NCP president Sharad Pawar, pointing out how difficult it would be to get him to take a break.
He said, "Nowadays, people from the young generation do not take care of their parents. Parents need to make financial arrangements for their post-retirement life because children go abroad, settle there and enjoy life. They do not take care of their parents."
Responding to a question about his uncle, he retorted, "This is exactly my point. I am asking him to rest but he is not listening to me."
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