In a significant development, the Rajasthan government is gearing up to amend pension rules, bringing them in line with the existing regulations of the central government. Under these changes, pension benefits will now be provided within three months of retirement.
Under the new rules, if there is a delay of three months or less in pension disbursement after retirement
No interest will be charged. However, if the delay exceeds this period, interest will be charged at the existing rate of the General Provident Fund (approximately 8%). Additionally, if the government does provide interest, pensioners will receive a savings of one and a half percent. This move ensures that pensioners receive their pensions within the stipulated timeframe and prevents any additional financial burden on the government.
Previously, under the rules established by the Ashok Gehlot government
Pension benefits were disbursed to employees’ accounts on the day of retirement. However, if there was a delay, pensioners were liable to pay a penalty and interest at a rate of 9.50% per annum. Now, the Bhajan Lal government aims to align these rules with the regulations set by the central government.
With these proposed changes, pensioners and employees can expect more streamlined and efficient pension disbursement processes, ensuring timely access to pension benefits without any financial penalties.