Will increase pensions in next Budget, says CM

NT Correspondent

Bengaluru: Chief Minister Siddaramaiah said that the State government would increase the pension allocations in next year’s Budget.

He made the disclosure during a World Senior Citizen's Day event at the Ravindra Kalakshetra in Bengaluru on Sunday. World Senior’s Day is commemorated on August 21 and this was a belated event to mark the same.

“We will increase the pensions due to senior citizens in next year’s Budget,” Siddaramaiah promised, adding that the State government was committed to the welfare of senior citizens.

Women and Child Development Minister Laxmi Hebbalkar participated in the programme and her department was heavily involved in it as well.

“Treating the elders with respect and adopting their values is indeed our way to honour them. Rather than the number of days we live, what is of utmost importance is that we lead a worthy and meaningful life,” the CM said.

However, Siddaramaiah remained tight-lipped about Congress’ promise – which they included in their manifesto – to restore the Old Pension Scheme (OPS) and do away with the New Pension Scheme (NPS) for employees who joined after 2006.

Under the OPS, retired employees get half their salary monthly and dearness allowance twice a year and no deductions were made in their salary while they worked.

Under the NPS, 10 per cent of the salary is deducted and the amount invested in funds and employees get the return on their investments after retirement.

The Congress has done away with NPS and restored OPS in the other states where it rules, namely Rajasthan, Himachal Pradesh and Chhattisgarh.