Jaipur: Around 400 government employees of Rajasthan, who retired before the old pension scheme (OPS) was restored in the state (April 1, 2022), demand that they be allowed to opt for OPS by depositing only the employer’s share in the government fund, instead of depositing the full amount (employee and employer’s share) which they withdrew at the time of retirement under the National Pension Scheme (NPS).
They want the Chhattisgarh and Himachal Pradesh pattern to be adopted in Rajasthan. The notification issued by the Chhattisgarh government states, “In the cases of retirement/death of employees between November 1, 2004, and the date of implementation of the Old Pension Scheme (OPS), to get benefits of OPS, are required to deposit the government contribution and the dividend earned on withdrawal (till date) in the government fund.
Dr S S Aggarwal, a retired professor of Nohar government college, Hanumangarh, who is a member of OPS Vanchit Karmachari Sangh, “They want us to deposit the full amount which was withdrawn at retirement. However, we should be allowed to deposit only the employer’s share to opt for the old pension scheme. The government wants us to deposit the employee’s share as well. We should be treated the same way as government employees who retired after April 1, 2022. We want Himachal and Chhattisgarh patterns to be adopted in Rajasthan.”
We also published the following articles recently
They want the Chhattisgarh and Himachal Pradesh pattern to be adopted in Rajasthan. The notification issued by the Chhattisgarh government states, “In the cases of retirement/death of employees between November 1, 2004, and the date of implementation of the Old Pension Scheme (OPS), to get benefits of OPS, are required to deposit the government contribution and the dividend earned on withdrawal (till date) in the government fund.
Dr S S Aggarwal, a retired professor of Nohar government college, Hanumangarh, who is a member of OPS Vanchit Karmachari Sangh, “They want us to deposit the full amount which was withdrawn at retirement. However, we should be allowed to deposit only the employer’s share to opt for the old pension scheme. The government wants us to deposit the employee’s share as well. We should be treated the same way as government employees who retired after April 1, 2022. We want Himachal and Chhattisgarh patterns to be adopted in Rajasthan.”
We also published the following articles recently
Audits in highrises held up as realtors yet to deposit funds
Structural audits of high rise residential societies in Gurgaon are being delayed as developers have not deposited funds and shared building plans. Additional deputy commissioner Hitesh Meena has warned developers to cooperate or face action. The status of ongoing valuation of interior work and refund to affected flat owners was also discussed. Many developers have not deposited money for testing, causing further delays. Notice will be issued to defaulting builders. In addition, some flat owners are not cooperating with the assessment process.
Structural audits of high rise residential societies in Gurgaon are being delayed as developers have not deposited funds and shared building plans. Additional deputy commissioner Hitesh Meena has warned developers to cooperate or face action. The status of ongoing valuation of interior work and refund to affected flat owners was also discussed. Many developers have not deposited money for testing, causing further delays. Notice will be issued to defaulting builders. In addition, some flat owners are not cooperating with the assessment process.
BBMP granted4 months to deposit dues
The Karnataka high court has given the Bruhat Bengaluru Mahanagara Palike (BBMP) four months to deposit the remaining beggary cess it has collected. The BBMP had requested six months to pay in instalments but the court refused, stating that no further time will be granted. The court also learned that 115 FIRs have been registered under the Karnataka Prohibition of Beggary Act in the last three years, resulting in arrests.
The Karnataka high court has given the Bruhat Bengaluru Mahanagara Palike (BBMP) four months to deposit the remaining beggary cess it has collected. The BBMP had requested six months to pay in instalments but the court refused, stating that no further time will be granted. The court also learned that 115 FIRs have been registered under the Karnataka Prohibition of Beggary Act in the last three years, resulting in arrests.
Low fixed deposit rates, pandemic rally spark interest in mutual funds
The share of mutual fund investments in the mix of bank deposits and mutual funds has reached a record 20% as of August 2023, up from 13% in March 2020. Low deposit rates and a booming stock market during the pandemic have contributed to this increase. Investors have been willing to take on more risk with mutual funds due to the lower returns offered by bank deposits. The assets under management (AUM) of mutual funds have seen significant growth, with a compound annual growth rate of 24.8% over the past three years.
The share of mutual fund investments in the mix of bank deposits and mutual funds has reached a record 20% as of August 2023, up from 13% in March 2020. Low deposit rates and a booming stock market during the pandemic have contributed to this increase. Investors have been willing to take on more risk with mutual funds due to the lower returns offered by bank deposits. The assets under management (AUM) of mutual funds have seen significant growth, with a compound annual growth rate of 24.8% over the past three years.
