Congress president Mallikarjun Kharge on Sunday took a dig on the Modi authorities over Centre’s announcement of the Unified Pension Scheme (UPS), saying the ‘U’ in UPS stands for the federal government’s “U-turns”.
“The ‘U’ in UPS stands for Modi Govt’s U turns! Submit June 4, the ability of the folks has prevailed over the conceitedness of energy of the Prime Minister. — Rollback within the finances relating to Lengthy Time period Capital Acquire / Indexation — Sending Waqf Invoice to JPC — Rollback of Broadcast Invoice — Rollback of Lateral Entry. We are going to maintain making certain accountability and defend 140 Cr Indians from this despotic authorities!,” Kharge posted on X.
Fulfilling lengthy pending calls for of presidency workers forward of meeting elections in Haryana and Jammu and Kashmir, the Cupboard assembly, chaired by Prime Minister Narendra Modi, authorised the Unified Pension Scheme (UPS), which assures assured pension.
What’s new UPS?
The brand new pension scheme additionally ensures an assured minimal pension of Rs 10,000 monthly on superannuation after a minimal of 10 years of service. This feature scheme will profit 23 lakh central authorities workers, he stated, including that the quantity would rise to 90 lakh if state governments need to be a part of the scheme.
Saying different options of UPS, Union minister Ashwini Vaishnaw had stated an assured household pension shall be supplied to the partner of a deceased worker. As well as, there could be inflation indexation on assured pension, assured household pension, and warranted minimal pension.
With the addition of all these options, it marks the transformation of the Nationwide Pension System (NPS), which promised pensions primarily based on the contribution made by workers and the federal government.
The announcement got here in opposition to the backdrop of a number of non-BJP states deciding to revert to the DA-linked Previous Pension Scheme (OPS) and worker organisations in another states elevating demand for a similar.
Nationwide Pension System (NPS) has been carried out for all authorities workers besides these within the armed forces becoming a member of the central authorities on or after January 1, 2004.
Below the Previous Pension Scheme (OPS), retired authorities workers acquired 50 per cent of their final drawn wage as month-to-month pensions. The quantity retains growing with the hike within the DA charges. OPS just isn’t fiscally sustainable as it’s not contributory, and the burden on the exchequer retains mounting.
(With PTI inputs)
Additionally learn: Unified Pension Scheme ensures dignity, monetary safety for presidency workers: PM Modi
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