The opposition celebration’s swipe got here a day after the Union Cabinet permitted an assured pension of fifty per cent of wage for many who joined the service after January 1, 2004, underneath the National Pension System
The Congress on Sunday took a jibe at the Centre over its announcement of the Unified Pension Scheme, saying the ‘U’ in UPS stands for Modi authorities’s “U-turns”. The opposition celebration’s swipe got here a day after the Union Cabinet permitted an assured pension of fifty per cent of wage for many who joined the service after January 1, 2004, underneath the National Pension System (NPS).
Fulfilling lengthy pending calls for of presidency staff forward of meeting elections in Haryana and Jammu and Kashmir, the Cabinet assembly, chaired by Prime Minister Narendra Modi, permitted the Unified Pension Scheme (UPS), which assures assured pension.
Taking a dig at the federal government, Congress president Mallikarjun Kharge stated, “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.”
“Rollback in the budget regarding Long Term Capital Gain/Indexation. Sending Waqf Bill to JPC. Rollback of Broadcast Bill. Rollback of Lateral Entry,” Kharge stated.
“We will keep ensuring accountability and protect 140 crore Indians from this despotic government!” the Congress chief stated in his publish on X.
The new pension scheme additionally ensures an assured minimal pension of Rs 10,000 per thirty days on superannuation after a minimal of 10 years of service.
This possibility scheme will profit 23 lakh central authorities staff, he stated, including that the quantity would rise to 90 lakh if state governments wish to be a part of the scheme.
Announcing different options of UPS, Union minister Ashwini Vaishnaw had stated an assured household pension will probably be supplied to the partner of a deceased worker. In addition, there can be inflation indexation on assured pension, assured household pension, and guaranteed minimal pension.
With the addition of all these options, it marks the transformation of the National Pension System (NPS), which promised pensions based mostly on the contribution made by staff 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 Old Pension Scheme (OPS) and worker organisations in another states elevating demand for a similar.
NPS has been applied for all authorities staff besides these within the armed forces becoming a member of the central authorities on or after January 1, 2004.
Under the Old Pension Scheme (OPS), retired authorities staff 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 shouldn’t be fiscally sustainable as it isn’t contributory, and the burden on the exchequer retains mounting.
(Except for the headline, this story has not been edited by DNA workers and is printed from PTI)
