The government has taken an important decision for the employees. Under this, they will be given the benefit of the Guaranteed Pension Scheme. Along with this, 50% of the last withdrawn amount will be made available to them as salary after retirement. It has been approved in the cabinet.
Pensioners Pension, GPS: There is big news for the employees and pensioners. Actually they will now be given the benefit of Guaranteed Pension Scheme. For this, an important decision has been taken by the Chief Minister. Under the scheme, 50% of the last drawn pay will be provided as pension to the eligible employees. It also included receiving dearness relief on the lines of declaring dearness allowance and dearness relief by the central government twice a year.
Approval of Guaranteed Pension Scheme
An important decision was taken by the cabinet on Wednesday with the approval of the Guaranteed Pension Scheme to Andhra Pradesh employees and 6840 new government jobs. Some important decisions have been taken under the chairmanship of Chief Minister YS Jagan Mohan Reddy. A press note was issued by the state government on Wednesday. In which it was said that keeping in mind the future of the state and the welfare of the employees, GPS has been amended.
50% of last drawn pay will be provided as pension
Jaganmohan Reddy’s Cabinet on Wednesday announced that 50% of the last drawn salary would be provided as pension to government employees under the Guaranteed Pension Scheme. The Guaranteed Pension Scheme is similar to the restoration of the old pension scheme announced in states like Rajasthan, Chhattisgarh and Himachal. The employees were demanding the pension scheme for a long time.
It was promised to convert CPS to GPS
The same new GPS will replace the Contributory Pension Scheme. Whose state government employees were protesting for a long time. The share of pension was being demanded from the employees under the CPS pension scheme. Following which a promise was made by Jagan Mohan Reddy to convert CPS to GPS before the state assembly elections in 2019.
The new pension scheme will ensure an increase in dearness allowance for government employees. At the same time, payment of 50% pension will be ensured after retirement. In such a situation, the Andhra Pradesh government will implement a new guaranteed pension scheme for its employees.
The minister said that the cabinet has discussed the draft bill in detail. CPS has been abolished. An elaborate exercise has been carried out to implement the option. If OPS is brought back, generations to come will bear the consequences but if it is reintroduced, the pension bill will be more than the salary.
