VIJAYAWADA: Bowing to the demand of employees to restore Old Pension Scheme (OPS) by abolishing Contributory Pension Scheme (CPS), the State government on Wednesday constituted an expert committee under the chairmanship of former Chief Secretary SP Tucker to review the CPC and examining the demand for continuation of OPS.
The term of the committee, comprising Tucker, Finance Secretary Peeyush Kumar (Member Secretary), Law Secretary D Venkata Ramana, Prof K Munirathnam Naidu and Prof Galab, will be of three months.
It will submit a detailed report analysing the repercussions, both legal and financial, of reviewing the Contributory Pension Scheme in force as well as the impact of CPS on the State finances.
In the united Andhra Pradesh, the then State government in September 2004 adopted the New Pension Scheme based on defined contributions for the government employees recruited on or after September 1, 2004.
However, with the employees opposing the CPS by organising protests and the same becoming one of the major issues ahead of the coming polls after YSRC chief YS Jagan Mohan Reddy has announced to abolish CPS if YSRC comes to power, the TDP government constituted the committee to look into the issue.
It may noted here that Arvind Kejriwal government in Delhi had adopted a resolution abolishing the CPS recently and the employees working under CPS demanded a similar action from the TDP government as they feel appointment of committees only remain a time consuming affair.
Terms of reference for the committee