CPS Plans OPS Rath Yatra' on July 16 for Old Pension Scheme

HYDERABAD: State employees covered under the contributory pension scheme (CPS) said on Tuesday that they would launch the "OPS Rath Yatra" on July 16, demanding that the government restore the old pension scheme. The yatra will begin from Jogulamba temple in Alampur in Gadwal district and cover all 33 districts before ending in Hyderabad on August 12 with a rally.

Telangana State CPS Employees Union (TSCPSEU) president G. Sthitaprajna held a meeting with district union leaders from the 33 districts to finalise the course of action against the CPS and to step up pressure on the government for restoration of OPS.

Sthitaprajna stated that six states had abolished the CPS and restored the OPS. He demanded that the Telangana state government implement the OPS for 1,72,000 government employees and teachers currently covered under CPS.

"CPS is a dangerous pension scheme as it is linked to stock markets. It offers no financial security to employees or their family members after retirement. Already, Telangana employees' contribution to CPS of nearly ₹ 20,000 crores has been diverted to stock markets. If the state government scraps CPS, it will get ₹20,000 crores which can be used for public purposes," Sthitaprajna said.

( Source : Deccan Chronicle. )
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