Parliament Question: Old Pension Scheme for PSUs and PSBs

GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES ***** LOK SABHA UNSTARRED QUESTION NO. 3657 ANSWERED ON MONDAY, 11 AUGUST, 2025/ SRAVANA 20, 1947 (SAKA) OLD PENSION SCHEME FOR PSUS AND PSBS

3657. DR. DHARAMVIRA GANDHI

Will the Minister of FINANCE be pleased to state:

(a) whether the Government has decided to extend the benefit of the Old Pension Scheme (OPS) to those Government employees whose appointment was made after 1 January 2004, but whose recruitment process/advertisement was initiated before 1 January 2004, if so, the details thereof;

(b) whether the Government proposes to implement similar comprehensive provisions for employees of public sector undertakings and Public Sector Banks; and

(c) whether the Government ensures that all the employees of the State Bank of India whose recruitment process (such as advertisement or examination) was conducted before 1 August 2010, but whose appointments were delayed due to unavoidable circumstances and took place after 1 August 2010 are also included in the Old Pension? ANSWER MINISTER OF STATE FOR FINANCE (SHRI PANKAJ CHAUDHARY)

(a) & (b) In light of various Court judgments, the Government had issued instructions vide OM No.

57/05/2021-P&PW(B) dated 03.03.2023, giving one-time option to those Central Government civil employees for inclusion under the CCS (Pension) Rules, 1972 (now 2021) who have been appointed against the posts or vacancies which were advertised/notified for recruitment/appointment prior to date of issuing of notification of National Pension System i.e. 22.12.2003. Further, there is no such proposal under consideration in Ministry of Finance for Public Sector Undertakings and Public Sector Banks.

(c) As per the State Bank of India Employees’ Pension Fund Regulations, 2014, the old pension will not be applicable to those who joined the services of SBI on or after 01.08.2010. **********