The issue of old pension scheme in the country has heated up once again. Maharashtra Deputy Chief Minister Devendra Fadnavis is about to find a middle ground, while the Reserve Bank has warned against withdrawing the old pension scheme adopted by some states, stating it poses a major risk to their exchequer. Today we will talk about this. First of all let’s understand what is old pension scheme and new pension scheme Both new and old pensions have some advantages and disadvantages. In old Pension Scheme, 50% of the final pay amount of the employee is given as pension at the time of retirement. In the old scheme, the pension is determined by the last basic salary of the employee and inflation data.
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