Lagatar24 Desk
New Delhi, June 3: Chhattisgarh Chief Minister Bhupesh Baghel has urged Prime Minister Narendra Modi to issue a directive to the Pension Fund Regulatory and Development Authority (PFRDA) to refund money deposited into the National Pension System (NPS) by the state government since November 2004 along with accruals.
Baghel made this demand to Prime Minister Narendra Modi just days after the PFRDA denied the state government’s request to withdraw Rs 17,240 crore in NPS funds.
Baghel said in his letter to Modi on Thursday that his government has chosen to reestablish the old pension scheme (OPS) in the interest of government officials and employees, and that a request has been made for its implementation.
According to state government data, the state government transferred Rs 11,850 crore (employee and employer contributions) to the National Securities Depository Limited (NSDL) between November 1, 2004, and March 31, 2022. According to him, the current market value of this sum is around Rs 17,240 crore.
On May 20 of this year, the state administration demanded that the PFRDA return this money to it. However, the authority responded in a letter dated May 26 that there is no such provision available under which funds made in the form of government and employee contributions to NPS, as well as accruals, can be returned, he added.
