Day after Centre announces Unified Pension Scheme, Congress ‘U-turn’ counter: ‘U in UPS stands for..’

In a post on X, Kharge said, “The ‘U’ in UPS stands for Modi Govt’s U turns! Post June 4, the power of the people has prevailed over the arrogance of power of the Prime Minister.”

He added: “Rollback in the budget regarding Long Term Capital Gain/Indexation. Sending Waqf Bill to JPC. Rollback of Broadcast Bill. Rollback of Lateral Entry. We will keep ensuring accountability and protect 140 crore Indians from this despotic government!”

What is the new scheme?

The new pension scheme announced by Union Minister Ashwini Vaishnaw guaranteed an assured minimum pension of Rs 10,000 per month on superannuation after a minimum of 10 years of service. This option scheme will benefit 23 lakh central government employees, he said.

As per the scheme, the employees’ contribution will, however, remain unchanged at 10 per cent of basic pay plus dearness allowance. Coming into effect from April 1, 2025, the UPS will be accessible to those who have completed 25 years of service in the government. Other key features of the scheme include a family pension to the spouse equal to 60 per cent of an employee’s pension income after death, a minimum pension of Rs 10,000 for those who have completed a minimum 10 years of service, inflation indexation to take care of price rise of goods and services, and a facility to withdraw a lump sum amount at retirement.

The inclusion of the new features marked the transformation of the National Pension Scheme (NPS), which promised pensions depending on the contribution made by employees and the government. The Central government’s announcement came amid many non-BJP states decision to revert to the DA-linked Old Pension Scheme (OPS) and employee organisations in some other states urging for the same.

After January 1, 2004, the NPS has been in place for all government employees other than for those in the armed forces joining the central government. As per the Old Pension Scheme (OPS), retired government employees receieved 50 percent of their last drawn salary as montly pensions and the amount hiked with the increase in DA rates.

With PTI inputs

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