Around 17 lakh state government employees have gone on an indefinite strike since Thursday demanding that the old pension scheme be returned. Some states, including Rajasthan, Himachal Pradesh, Jharkhand, Chhattisgarh, and Punjab, have restored the old pension scheme. 𝗧𝗵𝗲 𝗢𝗹𝗱 𝗣𝗲𝗻𝘀𝗶𝗼𝗻 𝗦𝗰𝗵𝗲𝗺𝗲 ensures that a retired government employee gets access to life-long stable income after retirement. Under the old pension system, retired government employees receive 50 percent of their last drawn salary plus dearness allowance as a pension every month. Moreover, they also get the benefits of revision in dearness allowance (DA) twice every year. The payout under OPS doesnand#039;t require a deduction from salary during service years. 𝗧𝗵𝗲 𝗡𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗣𝗲𝗻𝘀𝗶𝗼𝗻 𝗦𝘆𝘀𝘁𝗲𝗺, which was introduced in 2004, is open to both government and private sector employees. The scheme was initially only available for government employees but in 2009 it was expanded to include any citizen in the age groups of 18 years to 60 years. The Pension Fund Regulatory and Development Authority (PFRDA) has been implementing and regulating the NPS. 𝗧𝗵𝗲 𝗡𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗣𝗲𝗻𝘀𝗶𝗼𝗻 𝗦𝘆𝘀𝘁𝗲𝗺 is divided into Tier I and Tier II accounts. Investments in Tier I account canandamp;rsquo;t be withdrawn till retirement age while Tier II account allows premature withdrawal.