India's central government has stated there is no proposal to restore the Old Pension Scheme (OPS) due to its unsustainable fiscal burden. Minister of State for Finance Pankaj Chaudhary informed the Lok Sabha that states like Rajasthan, Chhattisgarh, Jharkhand, Punjab, and Himachal Pradesh have reverted to OPS, but the Centre cannot refund NPS contributions. The Unified Pension Scheme (UPS) was introduced as an option from April 1, 2025.
Govt rules out restoring Old Pension Scheme
Source: Mint