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Old Pension Scheme Controversy Explained | Old Pension Scheme vs New Pension Scheme | UPSC

Many state governments in India have demanded a roll back of the New Pension Scheme (NPS) and the restoration of Old Pension Scheme (OPS). States like Rajasthan, Chhattisgarh and Jharkhand have demanded that the Union Government refund the contribution made by them to the National Pension system. The Central Government introduced the National Pension System (NPS) with effect from January 2004. It was launched as a measure for the government to get rid of pension liabilities in the backdrop of India's pension debt reaching uncontrollable levels. The Old Pension Scheme vs New Pension Scheme battle between the Union and state governments is about finances and administrative powers. Watch this video to know more about: 1. What is the Old Pension Scheme Controversy? (00:00) 2. RBI report on Old Pension Scheme (01:31) 2. What is Old Pension Scheme? (02:49) 3. What are the concerns with the Old Pension Scheme (06:58) 4. What is OASIS Project? (11:42) 5. High Level Expert Group under BK Bhattacharya (15:29) 6. New Pension Scheme (17:28) 7. Why are Economists opposing Old Pension Scheme? (20:03) 8. Is there a need to reform the pension system? (27:21) 9. Highlights of India's Pension Architecture (31:58) Download the BYJU'S Exam Prep App: 👉 https://click.gradeup.co/Fqr0/ytIASEng Join us on Telegram for all the latest updates: 👉 https://t.me/BYJUSEXAMPREPIAS Subscribe to "BYJU’S IAS" Channel: 👉 https://www.youtube.com/c/BYJUSIAS?su... Subscribe to our “BYJU’S IAS Hindi” Channel: 👉 https://www.youtube.com/c/BYJUSIASHin... Download Explained PDF here: https://cdn1.byjus.com/wp-content/upl... Register FREE - BYJU’S National Scholarship Test (BNST) for IAS 👉 https://byjus.com/bnst-ias/?utm_sourc... Top Playlists for UPSC Civil Services Exam (CSE): The Hindu News Analysis 2023 Playlist: 👉    • The Hindu Newspaper Analysis LIVE | M...   Strategy Series Playlist: How To Prepare for UPSC Prelims & Mains? 👉    • Strategy Series | Prelims and Mains |...   Target Prelims 2023 Daily Quiz Playlist: 👉    • Daily Quiz | Master Playlist - 2023 |...   Knowledge Series Playlist | Cover 100+ Key Static Topics: 👉    • Knowledge Series | Master Playlist | ...   The Big News Playlist | Watch & Understand Big Breaking News: 👉    • The Big News | Daily Analysis of Key ...   Economy This Week Playlist: 👉    • Economy This Week | Indian Economy Ma...   International Relations This Week Playlist: 👉    • International Relations This Week | W...   Explained Playlist | In-depth Analysis of Weekly Current Affairs: 👉    • Explained | In-depth Analysis of Week...   For Weekly Current Affairs Explained in Hindi, visit: ‪@BYJUSIASHindi‬ For more information on BYJU'S IAS courses, call us on: +91-9538419666 Happy Learning! ‪@BYJUSIAS‬ #upsc #oldpensionscheme #oldpension #pension #upsccurrentaffairs #election #oldpensionschemecontroversy #oldpensionvsnewpensionscheme #newpensionscheme #pension #socialsecurity #governance #pensioncontribution #federalism #polity #governance #newpension #oldpension #nationalpensionsystem #nationalpensionscheme #nps #nationalpension #pensions #upscpre2023 #upsccseprelims2023 #todaycurrentaffairs #currentaffairsforupsc #todaynewsupdates #upsccurrentaffairs #upscdailynewsanalysis #currentaffairstoday #breakingnews #importantnews #iasprep #iasprelims #ias #upsccseprelims #upsccurrentaffairs #upscexam #currentaffairs2022 #currentaffairs2023 #ByjusIAS #ByjusExplained #ByjusWeeklyCurrentAffairs #byjusiasprep