Punjab: Government decides to bring back old pension scheme for its employees in Punjab

Punjab chief minister Bhagwant Mann on Friday announced that the state government has decided to bring back the old pension scheme for its employees. Giving a Diwali gift, the government has decided to implement the old pension scheme, said Mann.

“We have taken in-principle decision to this effect in the cabinet meeting. This will benefit lakhs of employees…We are bringing Punjab under the old pension scheme,” PTI quoted him as saying.

Finance Minister Harpal Singh Cheema said that employees will be given the option to join the old pension scheme.

Mann, a month ago, had said that his government is considering restoring the scheme for government employees.

Restoration of the old pension scheme, which was discontinued in 2004, has been one of the major demands of state government employees.

In August last year, Cheema, a senior Aam Aadmi Party leader, had promised to restore the old pension system if the party was voted to power in Punjab.

(With inputs from PTI)