Labour Minister to discuss old GPF scheme issue with FM soon

Labour Minister Bandaru Dattatreya today said he will soon discuss bringing back old General Provident Fund scheme with the Finance Minister as many employee organisations are unhappy with the new pension system.
A delegation of central government employees today called on Labour Minister Bandaru Dattatreya and demanded restoration of the old GPF scheme, which was replaced with the contributory pension scheme, NPS, from 2004.
Dattatreya said the Labour Ministry has been receiving such demands from all quarters across the country.
The minister further said he will take up the issue with Finance Minister Arun Jaitley soon.
"A delegation of central government employees has given me a memorandum to bring back old General Provident Fund (GPF) scheme because they want retired government employees to avail social security like pension benefits, dependent benefits, insurance and other benefits," Dattatreya said.

From January 2004, the government replaced the earlier defined contribution pension system for retired employees, except for armed forces, with the contributory pension system under NPS.
The Labour Minister said employees are not happy with self contributory pension scheme under the National Pension System (NPS) post 2004 as they are deprived of social security.
Exerting commitment to address labour issues he said: "Our social benefits will reach the lowest level of society. We have provided security to construction, Aanganwai, Aasha, mid-day meal workers and we now plan to bring auto rickshaw drivers and domestic workers also under this fold".