congress manifesto 2024: Old pension scheme promise missing in Congress manifesto: Chidambaram explains why

Congress today released its manifesto for the forthcoming Lok Sabha elections, however, the Congress has not made any promise about the old pension scheme in this manifesto. Led by party chief Mallikarjun Kharge and former presidents Sonia Gandhi and Rahul Gandhi, the manifesto highlights the party’s dedication to justice, structured around its ‘five pillars’.

Entitled ‘Nyay Patra’, the manifesto focuses on ‘Youth Justice’, ‘Gender Justice’, ‘Farmers’ Justice’, ‘Workers’ Justice’, and ‘Equity Justice’. It also encompasses the party’s commitments outlined in its electoral promises for the upcoming Lok Sabha elections.

On being asked about the old pension scheme and why it’s missing in the Congress manifesto, Congress manifesto committee head Chidambaram said that “It’s not missing, it’s in our head.” He said that the party has not included the issue in the manifesto as the government has recently formed a committee to look into the provisions of New Pension Scheme (NPS). “We will review the situation after the committee outcome and move ahead according to that,” he said.

In an attempt to attract voters in Madhya Pradesh, Rajasthan, and Chhattisgarh, the Congress had emphasized the Old Pension Scheme (OPS) as a significant pledge. However, despite offering increased pensions for government employees, the party faced defeat in these states. Interestingly, its sole victory in Telangana occurred without this commitment.

OPS guarantees a fixed pension equal to 50 percent of a government employee’s last salary, without requiring any contribution from them. In contrast, the NPS, introduced in 2004, mandates employees to contribute 10 percent of their basic salary, with the government contributing 14 percent. The eventual pension amount depends on the market returns of the invested funds.

Four states, including Himachal Pradesh, have implemented OPS in some capacity, while Karnataka has expressed its intention to do so. The Congress vowed to introduce OPS in Madhya Pradesh if elected, and in Chhattisgarh and Rajasthan, it reiterated its commitment to ensuring its proper implementation.Following the Congress’s victory in the Himachal Pradesh assembly election last year, speculation arose that the promise of OPS had contributed to the party’s success, given the significant number of government employees in the state.