The Punjab Cabinet has given its approval for the restoration of the Old Pension Scheme. The decision was taken in a cabinet meeting on November 18, 2022. Punjab is the fourth state after Jharkhand, Chhattisgarh and Rajasthan to implement the OPS.

• The Punjab Government took the decision to restore the Old Pension Scheme after facing several demands from Government employees.
• Earlier, Chhattisgarh, Jharkhand, and Rajasthan too went back to the Old Pension Scheme and quashed the new pension scheme.
• Under the Old Pension Scheme, a government employee is entitled to a monthly pension after retirement. The monthly pension is typically half of the last drawn salary of the person.