• Rashmina
• Dr. Abhishek kumar
• Harikesh Yadav

Employee compensation and benefits play a crucial role in Human Resources management. Ensuring income security for salaried employees during retirement is essential, with post-retirement terminal benefits serving as a key component. Pensions after retirement play a crucial role in ensuring a consistent income and financial security. In India, employees working in government ministries and departments are categorized into either the ‘Old Pension Scheme (OPS)’ if they were hired before December 31, 2003, or the ‘National Pension Scheme (NPS)’ if their appointment occurred on or after January 1, 2004. This research provides a summary and evaluation of pension schemes designed for government employees in India after retirement. Within the framework of the ‘Old Pension Scheme (OPS)’, government employees are entitled to extensive one-time terminal benefits, encompassing the encashment of earned leaves (EL), provident fund, gratuity, computation facility for pension calculation, and regular monthly pension disbursements. In contrast, the ‘National Pension Scheme (NPS)’ confines one-time terminal benefits to the encashment of earned leaves and gratuity, reflecting a paradigm shift in the pension structure. The objective of this prospective study is to examine the implementation of a pension plan and assess the ‘Old Pension Scheme (OPS) and National Pension Scheme (NPS)’ in a comparative analysis. Post-retirement pensions are extended to former central and state government employees in India, ensuring a financial support system during their retired phase, aiming to secure their financial independence during their retirement years and mitigate potential challenges. The primary goal of introducing the defined pension was to assure retired government employees a steady monthly income, ensuring their social security in their later years.

Retirement, Government Employees, National pension scheme, old pension scheme.

"A Comparative Analysis of Government Employee Retirement Pension Schemes in India: A Case Study of OPS and NPS", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.11, Issue 1, page no.g128-g134, January-2024, Available :http://www.jetir.org/papers/JETIR2401617.pdf

"A Comparative Analysis of Government Employee Retirement Pension Schemes in India: A Case Study of OPS and NPS", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.11, Issue 1, page no. ppg128-g134, January-2024, Available at : http://www.jetir.org/papers/JETIR2401617.pdf