State governments that have ostensibly opted out of the National Pension System (NPS) for their employees and have reverted to the Old Pension Scheme that guaranteed 50% of final salary as monthly pension, continue to remit due contributions to the NPS corpus.
State government employees account for the largest chunk of the savings pool which crossed ₹10 lakh crore on August 25, 14 years and three months after the NPS regulated by the Pension Fund and Regulatory Development Authority (PFRDA) actively started managing the old-age savings of government employees who joined service on or after January 1, 2004.
