Himachal govt gives employees 60 days to opt for Old Pension Scheme

Shimla: The Himachal Pradesh government on Thursday issued a standard operating procedure (SOP) for implementation of the Old Pension Scheme (OPS) for the 1.36 lakh state employees.

According to the SOP, employees, who wish to be covered under OPS or want to remain under the National Pension System (NPS), will have to choose an option within 60 days from the date of issue of these instructions.

Once exercised, the option would be final and irrevocable and in case the option is not exercised within 60 days by an employee, it would be deemed that the employee wishes to continue under the NPS, an office memorandum said.

The Sukhvinder Singh Sukhu government had taken a decision to implement the OPS in its first cabinet meeting in March. The decision would put a burden of Rs 1,000 crore on the state exchequer during the financial year 2023-24.