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The Times of India
The Times of India
National
Shishir Arya | TNN

Will reinstate old pension scheme when in power, says Uddhav Thackeray

Uddhav Thackeray NAGPUR Maharashtra

NAGPUR: Thousands of Maharashtra government employees have gathered in Nagpur to advocate for the reinstatement of the previous pension scheme, which guaranteed a fixed retirement payout.

This marks the first instance of political backing for the issue from employee unions, and the Shiv Sena (UBT) faction leader, Uddhav Thackeray, has promised to restore the old pension scheme if his party comes to power.

Under the new pension system, funds are invested in three portfolios managed by SBI, UTI, and LIC, including investments in the stock market. The pension accounts shared by employees have shown returns lower than fixed deposits by 450 units.

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