Mysore/Mysuru: Employees of various Departments staged a protest demanding the cancellation of New Pension Scheme (NPS) and restoration of Old Pension Scheme (OPS), near new Deputy Commissioner’s (DC) Office at Siddarthanagar  on June 21.

The protesters took out a rally from old MyMUL Dairy to the DC’s Office and raised slogans to vent their anguish.

The protesters said: “The pension system is in place in the country since 1881, while some changes were made with a few regulations in the year 1935 and also after the country got its independence.

The pension will help in meeting the expenses in retirement life. Hence, irrespective of public or private pension system and other retirement benefits, they should be able to meet the aspirations in the remaining days of life. But the system is being diluted,” the protesters alleged.

The NPS was introduced in the year 2004 for Central Government employees and in 2006 for State Government employees.

By investing in volatile share market, there is no guarantee of getting specific pension under NPS, which is nothing but fatal to retired employees, the protesters alleged further.

A memorandum was submitted by the protesters at DC’s Office later.

Divisional President of South Western Railway Mazdoor Union (SWRMU) S. Somashekar, Divisional Secretary P. Shivaprakash, District President Somegowda, Zonal Secretary Arthur Fernandes and several others took part in the protest.