States shifting to old pension scheme major step backwards, fiscally unsustainable: RBI article
The article by Rachit Solanki, Somnath Sharma, R K Sinha, S R Behera and Atri Mukherjee said the cumulative fiscal burden in the case of the Old Pension Scheme (OPS) could be as high as 4.5 times that of the New Pension Scheme, which was implemented over a decade ago as part of pension reforms.
"States' reverting to the OPS would be a major step backwards and can increase their fiscal stress to unsustainable levels in the medium to long term," the article warned. (PTI/File image)