Finance Minister Nirmala Sitharaman said that the money deposited in the National Pension Scheme (NPS) belongs to the persons contributing to it. State governments cannot take it under the law. Talking to the media, Sitharaman said in response to questions related to the restoration of the old pension system, that the Rajasthan and Chhattisgarh governments are asking the Center to return the money, it cannot happen under the law.
Responding to queries on restoration of the old pension scheme (OPS), Sitharaman clarified at a press conference that Rajasthan and Chhattisgarh governments that are asking the Centre to return the money, cannot get it back as per law.
Chief ministers of these two states have asked the Centre to return the people’s money under NPS for restarting OPS in their states.