Chhattisgarh Chief Minister Bhupesh Baghel has called on Prime Minister Narendra Modi to issue an order to the Pension Funds Development and Regulation Authority (PFRDA) to reimburse the money paid into the National Pension Scheme (NPS) by the state government since November 2004 with the accumulations. The officials announced on Friday.

Baghel made the request to the Prime Minister days after the PFRDA rejected the state government's request to withdraw Rs 17,240 crore accrued under the NPS.


      

In his letter written to Modi on Thursday, Baghel said his government has decided to reintroduce the old pension scheme (OPS) in favor of civil servants and government employees and the request for its implementation is ongoing.

According to the available data from the state government, Rs 11,850 crore (contribution of workers and employers) was transferred to the National Securities Depository Limited (NSDL) in the period from 1 November 2004 to 31 March 2022, which is 17,240 crores, he said.

The state government asked the PFRDA on May 20 this year to repay this amount. However, the agency responded by letter dated May 26 that there was no such rule under which the monies, which come in the form of both a state contribution and "an employee contribution, may be deposited to S along with accrued liabilities," he says.

"There is no such specific provision in the agreement entered into by the State Government with S Trust and National Securities Deposit Limited (NSDL) that prohibits the State Government from withdrawing from the new deposit system and implementing the old one," Baghel said.

In the federal structure, it is the sovereign decision of the state government. It is inappropriate to prevent the implementation of a decision announced in the state budget and then approved in the cabinet aimed at securing the future of workers and their families, he added.

State government officials and employees play an important role in the implementation of state welfare programs and PAHO is used for their benefit, the prime minister said, asking the prime minister to direct the PFRDA to review the application and return the state the sum.

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