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.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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