Karnataka to scrap NPS, implement Old Pension Scheme soon

The Karnataka government will soon scrap the New Pension Scheme (NPS) and implement the Old Pension Scheme (OPS), Deputy Chief Minister G Parameshwara said on Saturday.

He said the reintroduction of OPS was a long-standing demand of government employees and also a promise made by the Congress party ahead of the elections.

“The chief minister has held discussions on the issue. The government has taken an important decision to scrap the NPS and implement the OPS soon,” Parameshwara said addressing a state-level Teachers’ Day celebration organised by the School Education and Literacy and Higher Education departments here, according to a release.

He said the OPS could not be reintroduced so far for certain reasons, but Chief Minister D K Shivakumar was keen on scrapping the NPS and implementing the old pension scheme.

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