Özet:

Employee Compensation and benefit is a very important aspect of Human Resources Management. PostRetirement terminal benefits are helpful for old age income security, especially for the salaried employee. Post retirement Pension is an important component of constant income and financial stability. In India the Government Employees working in various Ministries and departments are covered under a defined pension Scheme, those appointed before 31/12/2003 named as Old Pension Scheme (OPS). An employee appointed on and after 01/01/2004 is covered under a contributory pension scheme named as National Pension Scheme (NPS). This study is an overview and evaluation of retirement pension plans of the Government employees in India. Under the OPS Government Employee receive one-time terminal benefits as EL encashment, Provident fund, Gratuity, pension computation facility and regular defined monthly pension whereas under NPS, the onetime terminal benefits are restricted to Earned Leave encashment, Gratuity only and pension pattern has changed to contributory scheme. This proposed study aims to analyse for adopting the contributory pension scheme and evaluation of both the pension scheme vis-à-vis OPS and NPS. Post retirement pensions are given to a retired central / State government employee in India to ensure that the retired government officials should be financially independent and can live their retired life without any financial challenges. The basic idea for extending the regular defined monthly pension was to ensure the old age constant monthly income and the social security of retired Government Employees

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