Double Diwali Bonanza for Government Employees of THIS state: Old pension scheme restored, 6% Dearness Allowance announced | Personal Finance News

71 / 100

Diwali Gift 2022: As promised weeks ago, the Aam Aadmi Party (AAP)-led Punjab government today announced the restoration of the old pension scheme as well as a 6 per cent Dearness Allowance for the government employees of the state. Punjab Chief Minister Bhagwant Mann today said, “Decisions were taken in today’s cabinet meeting in favour of the employees…The cabinet approved gifts for the employees and pensioners on the occasion of Diwali…Payment of 6% DA installment to employees and pensioners approved…which will be effective from 1st October.”

The DA hike will come into effect from October 1, and not from July 1 as announced by the Centre for the central government employees.

Mann also said that the state government has decided to restore the old pension scheme. “In today’s meeting of the Punjab cabinet, a historic decision has been taken for its employees…Our government is going to restore the old pension scheme…The cabinet has given in-principle approval to this decision…We stand with our employees…We do what we say…,” said Mann.

The restoration of the old pension scheme, which was discontinued in 2004, has been one of the major demands of state government employees. Mann said the employee’s demand has been met now and it’s a Diwali gift for them.

Also Read: Dhanteras 2022: Five safe ways to invest in 24-carat digital gold sitting at home

Finance Minister Harpal Singh Cheema said employees will be given the option to join the old pension scheme. The State’s Housing and Urban Development Minister said “historic decisions” have been taken by the government for the benefit of its employees.

It may be recalled that states like Chhattisgarh, Rajasthan and Jharkhand have already given their employees the option to choose from old pension and new pension schemes.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *