The Old Pension Scheme (OPS) in Bihar is a social security initiative aimed at providing financial assistance to retired government employees and their families. This scheme was designed to ensure that retirees receive a fixed monthly pension based on their last drawn salary, thereby offering them financial stability after retirement. Visit the eLabharthi Bihar portal to check your old age pension status.
Key Features of the Old Pension Scheme in Bihar
- Defined Benefit Pension: Under the OPS, pensioners receive a guaranteed monthly pension, which is a percentage of their last drawn salary. This is typically around 50% of the final salary.
- Family Pension: In the event of the pensioner’s death, a family pension is provided to the spouse and eligible children, ensuring continued financial support.
- No Contribution from Employees: Unlike the New Pension Scheme (NPS), employees do not have to contribute a portion of their salary to the pension fund under the OPS.
- Lifelong Benefit: The pension is paid for the lifetime of the retiree, providing a steady income during retirement years.
- Inflation Protection: The pension amount may be revised periodically to keep pace with inflation, ensuring that pensioners can maintain their purchasing power.
Current Status and Changes
- Reinstatement: The Bihar government, in recent years, has been reinstating the Old Pension Scheme for new recruits in the state, reversing the previous shift to the NPS, which was implemented in 2004.
- Eligibility: Generally, the OPS is applicable to government employees who were recruited before the introduction of the NPS and are eligible for retirement benefits under the scheme.
- Implementation: The government is working towards a smooth transition for employees wishing to switch back to the OPS from the NPS.
Application Process
- For Retirees: Employees nearing retirement should contact their respective departments to obtain details about the pension calculation, documentation required, and the application process.
- Documentation: Required documents usually include service records, identity proof, and other relevant certificates.
- Pension Disbursement: Once the application is processed, the pension is typically disbursed through designated banks or financial institutions.
Conclusion
The Old Pension Scheme in Bihar aims to provide a safety net for retired government employees, ensuring they receive adequate financial support after their working years. For the latest updates and detailed information, employees should regularly check official announcements from the Bihar government or consult their department’s administrative office.