UP: Yogi Govt Rejects Reintroduction Of Old Pension Scheme For State Employees Amid Financial Constraints

Lucknow: The Uttar Pradesh Government has refused to re-introduce old pension scheme for state employees. Citing reasons of poor financial condition of the state, the Yogi Government has said there is no chance of implementing it.

The finance minister of UP Suresh Khanna while replying to a question asked by the Samajwadi Party legislators Anil Pradhan, Pankaj Malik and Jai Prakash Anchal regarding implementation of the old pension scheme, said that state employees have been getting good returns on the new pension fund. He said that there is no intention of going back and implementing the old scheme. Not satisfied with the answer of the government, the Samajwadi Party legislator staged a walkout from the assembly.

Difficult to arrange funds for the developmental works

Khanna said that the state government at present has been spending 59.4 per cent of total available funds from the coffers on the wages and pension of the state employees. Due to the old pension scheme, the state government finds it difficult to arrange funds for the developmental works. Raising questions over the previous governments, the finance minister said that the old pension was scrapped when SP was ruling the state in the year 2005.

State employees' confederation to escalate stir in coming days

He said that the state government had discussed with the state employees in details about the new pension scheme and they had agreed on an 8 per cent rate of interest on the fund. The current rate of interest on the fund under the new pension scheme is 9.32 per cent hence there is no question of going back to the old pension scheme for the ₹20 lakh odd state employees, said the finance minister.

Meanwhile, demanding old pension scheme, the state employees on Thursday took out a march in Lucknow. The state employees’ confederation has said that they would intensify the stir in the coming days.