The opposition get together’s criticism got here a day after the Union Cupboard authorised an assured pension of fifty p.c of wage for people who joined the service below the Nationwide Pension System (NPS) after January 1, 2004.
The brand new scheme, launched forward of upcoming meeting elections in Haryana and Jammu and Kashmir, assures an assured pension of fifty per cent of the final drawn wage.
Addressing the difficulty, Congress president Mallikarjun Kharge mentioned, “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.”
Kharge additionally identified earlier coverage reversals, mentioning, “Rollback within the price range relating to Lengthy Time period Capital Acquire/Indexation. Sending Waqf Invoice to JPC. Rollback of Broadcast Invoice. Rollback of Lateral Entry.”
“We’ll maintain guaranteeing accountability and defend 140 crore Indians from this despotic authorities!” Kharge asserted in his publish on X.
The brand new pension scheme ensures a minimal pension of Rs 10,000 per thirty days on superannuation after a minimal of 10 years of service. It stands to learn 23 lakh central authorities workers initially, with potential enlargement to 90 lakh if state governments select to affix.
Highlighting extra options, Union minister Ashwini Vaishnaw shared that the scheme offers assured household pensions to spouses of deceased workers. Furthermore, inflation indexation will apply to the assured pension, assured household pension, and the assured minimal pension.
With these additions, the Unified Pension Scheme transforms the Nationwide Pension System, which earlier promised pensions primarily based on contributions from each workers and the federal government.
This modification comes amidst a number of non-BJP states reverting to the DA-linked Previous Pension Scheme (OPS) and related calls for from worker organisations in different areas.
NPS was carried out for all authorities workers, aside from these within the armed forces, who started serving the central authorities on or after January 1, 2004.
Underneath the Previous Pension Scheme, retired authorities workers obtained 50 p.c of their final drawn wage as month-to-month pensions, which elevated with DA charge hikes. The OPS, nevertheless, has been criticised as fiscally unsustainable because of its non-contributory nature, which poses a rising burden on the exchequer.
