Restoration of Old Pension Scheme

 Restoration of Old Pension Scheme

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF FINANCIAL SERVICES

LOK SABHA
UNSTARRED QUESTION NO. †3454

ANSWERED ON MONDAY, 11 AUGUST, 2025/ SRAVANA 20, 1947 (SAKA)

†3454. SHRI AMRA RAM

Will the Minister of FINANCE be pleased to state:

(a) whether the Government intends to implement old Pension Scheme, if so, the time by which the Government proposes to implement this scheme and if not, the reasons therefor;
(b) whether the Government proposes to return the corpus of New Pension Scheme to the States which have implemented old pension scheme, if so, the details thereof and if not, the reasons therefor; and
(c) the number of States which have implemented old pension scheme along with the amount of pension fund deposited with the Government by these States and the time by which the fund is likely to be returned to the States?

ANSWER

MINISTER OF STATE FOR FINANCE
(SHRI PANKAJ CHAUDHARY)

(a) There is no proposal under consideration of the Government of India for restoration of Old Pension Scheme (OPS) in respect of Central Government employees. The Government had moved away from OPS due to its unsustainable fiscal liability on the Government exchequer.

(b) & (c) The State Governments which have informed the Government/Pension Fund Regulatory and Development Authority (PFRDA) about reversion from National Pension System (NPS) to OPS and the details of pension fund under NPS as on 31.07.2025 are as below:

S. No.	Name of State	Amount of Pension Fund (Rs. in Cr)
1.	Chhattisgarh	22,499.80
2.	Himachal Pradesh	11,111.93
3.	Jharkhand	14,368.67
4.	Punjab	31,960.43
5.	Rajasthan	50,884.11

There is no provision under the Pension Fund Regulatory and Development Authority (PFRDA) Act, 2013, read along with PFRDA (Exits and Withdrawals under the National Pension System) Regulations,2015, and other relevant Regulations, vide which the accumulated corpus of the subscribers towards National Pension System can be refunded and deposited back to the State Government.