Old Pension Scheme (OPS) – Lok Sabha Unstarred Question No. 3637 | Ministry of Finance | 2026
OLD PENSION SCHEME – LOK SABHA UNSTARRED QUESTION NO. 3637
Ministry of Finance – Department of Financial Services – Reply Dated 10.08.2026
Question No.
Unstarred Question No. 3637
Answered On
10.08.2026
Ministry
Ministry of Finance
Subject
Implementation of Old Pension Scheme
Government Position
No Proposal
For restoration of OPS
Total AUM (5 States)
₹1,45,053.87 Cr
As on 26.07.2026
States Reverted to OPS
5
Rajasthan, Chhattisgarh, Jharkhand, Punjab, Himachal Pradesh
States Reverted from NPS to OPS – AUM Details
As per information provided to the Government/PFRDA as on 26.07.2026
| Name of State | AUM (in ₹ Crores) |
|---|---|
| Rajasthan | 53,403.89 |
| Chhattisgarh | 24,030.04 |
| Jharkhand | 14,420.90 |
| Punjab | 40,673.08 |
| Himachal Pradesh | 12,525.96 |
| Total | ₹1,45,053.87 Cr |
Key Highlights of the Reply
- Question: Dr. Indra Hang Subba asked whether the Government intends to implement the Old Pension Scheme (OPS), the timeline for implementation, and details of States that have implemented OPS along with pension fund amounts.
- Reply (a) & (b) – No Proposal: The Minister of State for Finance, Shri Pankaj Chaudhary, stated that there is no proposal under consideration of the Government of India for restoration of Old Pension Scheme (OPS) due to its unsustainable fiscal liability on the Government exchequer.
- Reply (c) – States Reverted: The State Governments which have informed the Government/Pension Fund Regulatory and Development Authority (PFRDA) about reversion from National Pension System (NPS) to OPS are:
– Rajasthan – ₹53,403.89 Cr
– Chhattisgarh – ₹24,030.04 Cr
– Jharkhand – ₹14,420.90 Cr
– Punjab – ₹40,673.08 Cr
– Himachal Pradesh – ₹12,525.96 Cr - No Provision for Refund: There is no provision under the PFRDA Act, 2013, read along with PFRDA (Exits and Withdrawals under the National Pension System) Regulations, 2015 and other relevant Regulations, vide which the accumulated corpus of the subscribers (Government contribution, Employees' contribution towards NPS along with accruals) can be refunded and deposited back to the State Government.
- Issuing Authority: The reply has been issued by the Minister of State for Finance in the Lok Sabha.
- Question Type: Unstarred Question – meaning the answer was given in writing and not read out in the House.
Important Points to Note
- No OPS Restoration: The Central Government has clearly stated that there is no proposal to restore the Old Pension Scheme due to fiscal unsustainability.
- Fiscal Liability: The primary reason cited is the unsustainable fiscal liability on the Government exchequer.
- Five States: Currently, five States have reverted from NPS to OPS – Rajasthan, Chhattisgarh, Jharkhand, Punjab, and Himachal Pradesh.
- AUM Details: The total Assets Under Management (AUM) for these five States is approximately ₹1.45 Lakh Crores.
- Refund Issue: There is no legal provision under the PFRDA Act to refund the accumulated NPS corpus back to the State Governments.
- Date: The information provided is as on 26.07.2026.
- Lok Sabha QA: This is a parliamentary reply which constitutes the official position of the Government of India on the matter.
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📥 Download Reply PDF Share on WhatsApp Share via Gmail Share on TelegramFrequently Asked Questions
What was the question asked in Lok Sabha Unstarred Question No. 3637?
Dr. Indra Hang Subba asked whether the Government intends to implement the Old Pension Scheme (OPS), the timeline for implementation, and details of States that have implemented OPS along with pension fund amounts.
What is the Government's stand on restoring the Old Pension Scheme?
The Government of India has no proposal under consideration for restoration of Old Pension Scheme (OPS) due to its unsustainable fiscal liability on the Government exchequer.
Which States have reverted from NPS to OPS?
The States that have reverted from NPS to OPS are: Rajasthan, Chhattisgarh, Jharkhand, Punjab, and Himachal Pradesh.
What is the total AUM of the States that have reverted to OPS?
The total Assets Under Management (AUM) for the five States as on 26.07.2026 is ₹1,45,053.87 Crores.
Can the accumulated NPS corpus be refunded to the States?
No. There is no provision under the PFRDA Act, 2013 and related regulations to refund the accumulated corpus (Government contribution, Employee contribution, and accruals) back to the State Government.
When was this reply given?
The reply was given on Monday, 10th August, 2026 (Shravana 19, 1948 Saka).
Who answered this question?
The question was answered by Shri Pankaj Chaudhary, Minister of State for Finance.
What is the primary reason for not restoring OPS?
The primary reason is the unsustainable fiscal liability that the Old Pension Scheme would impose on the Government exchequer.
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