Government of India
Sub: Resolution adopted by the Legislative Assembly of NCT of Delhi to call the attention of Hon’ble Deputy Chief Minister to abolish National Pension System (NPS) and reinstate the Old Pension System in the interest of lakhs of Government Servants.”
The Legislative Assembly of the National Capital territory of Delhi unanimously adopted the following resolution moved by Shri Ajay Dutt. Hon’ble Member of Legislative Assembly in its sitting held on 26-11-2018;
Given the fact that, unlike the Old Pension Scheme the NPS:does not give any guarantee to the employees either for assured returns on investments or for minimum pension.does not provide for family pension or social securitydoes not provide for loan facility when in dire needdoes not provide for annual increments and hike in DAdoes not allow the employees to withdraw enough money from their own pension fund to meet the medical emergencies.Leaves the employees at the mercy of volatile markets and the forces that have notoriously been manipulating the markets.Imposes draconian restrictions an withdrawals from pension fund
allows the insurance companies to exploit employees by way of forcing them to buy annuity for minimum of ten years even after retirement and
runs contrary to the spirit of welfare state as enshrined in the constitution.
further resolves to urge upon the Government of India to restore the old pension scheme in place of NPS or the benefit of all the Government Servants working under the Government of India and also to actively encourage other states to follow this true welfare measure”.