Decision on old pension scheme to be taken in next budget session

Maharashtra Chief Minister Eknath Shinde on Thursday told the legislative assembly that the government will study the recommendations of the Subodh Kumar committee over the issue of old pension scheme (OPS) and take a decision on it in the next budget session of the legislature. He said two additional chief secretaries will study the committee's report before the decision is made.
The CM's announcement came hours after the government as well as semi-government employees and officials launched a strike to press for their demand of restoring the OPS.

READ | Maharashtra: Over 17 lakhs employees hold indefinite strike for implementation OPS. 

Under the OPS, a government employee gets a monthly pension equivalent to 50 per cent his/her last drawn salary. There was no need for contribution by employees. The OPS was discontinued in the state in 2005.
Under the New Pension Scheme, a state government employee contributes 10 per cent of his/her basic salary plus dearness allowance with the state making a matching contribution. The money is then invested in one of the several pension funds approved by the Pension Fund Regulatory and Development Authority (PFRDA) and the returns are market-linked.