Govt employees demand suspension of NPS

Government employees registered their protest against the newly introduced National Pension Scheme (NPS) by donating blood.

The protesters urged the government to stop NPS and reintroduce Defined Contribution Pension Scheme (DPS).

A total of 30 employees donated blood at District Hospital Blood Bank. Later, they submitted a memorandum to Deputy Commissioner Dr Bagadi Gautham.

Members of the Government Employees' Association alleged that there is no extension of the General Provident Fund (GPF) facility to the National Pension Scheme (NPS). Under NPS, 10% of the salary should be contributed towards pension. However, there is no guarantee of getting at least 50% of the salary in the form of pension. There is no security for the dependents of the employees in case of death.

Karnataka State Government Employees' Association district unit president M R Chethan said, "All those who joined government service after 2004 were included in NPS. The state government implemented NPS in 2006. The money contributed by the employees to NPS is invested in shares through private companies. The profit gained from the investment is used for paying pension after retirement."