Maharashtra cabinet nod for OPS to state employees who joined service after November 2005

Maharashtra cabinet approves proposal for Old Pension Scheme (OPS) to government employees who joined after November 2005; OPS offers monthly pension equivalent to 50% of last drawn salary without employee contribution; cabinet also offers option of New Pension Scheme (NPS); NPS requires 10% contribution from employee and matching contribution from state; funds are invested in market-linked pension funds approved by PFRDA.

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