Shiv Sena Leader Anand Dubey and Congress Leader Rashid Alvi Discuss New Unified Pension Scheme
The Indian government has approved the Unified Pension Scheme (UPS), which will benefit around 23 lakh central government employees. Shiv Sena leader Anand Dubey and Congress leader Rashid Alvi commented on the scheme, stating it was a result of opposition pressure.
The UPS offers an assured pension, a minimum pension, and an assured family pension. Employees can choose between the existing National Pension Scheme (NPS) and the new UPS, which will be effective from April 1 next year.
Details of the Unified Pension Scheme
Information and Broadcasting Minister Ashwini Vaishnaw explained that the scheme has been developed through extensive consultations. The UPS will provide:
- 50% assured pension
- Assured family pension at 60% of the employee’s pension before their demise
- A minimum pension of Rs 10,000 per month after at least 10 years of service
Employees will have the option to choose between the NPS and the new UPS.
Doubts Revealed
Shiv Sena -: Shiv Sena is a political party in India, mainly active in the state of Maharashtra. It was founded by Bal Thackeray.
Congress -: Congress, or the Indian National Congress, is one of the oldest political parties in India. It played a major role in India’s independence movement.
Anand Dubey -: Anand Dubey is a leader from the Shiv Sena party. Leaders are people who guide or represent their political parties.
Rashid Alvi -: Rashid Alvi is a leader from the Congress party. Leaders help make decisions and speak on behalf of their parties.
Unified Pension Scheme (UPS) -: The Unified Pension Scheme is a new plan by the Indian government to provide pensions to its employees. A pension is money given to people after they retire from their jobs.
23 lakh -: 23 lakh means 2.3 million. In India, ‘lakh’ is a term used to represent 100,000.
National Pension Scheme (NPS) -: The National Pension Scheme is an existing plan where people save money for their retirement. The new UPS is another option for them.
Assured pension -: An assured pension means that the government promises to give a certain amount of money to retired employees every month.
Minimum pension -: A minimum pension is the least amount of money that the government will give to retired employees, no matter what.
Assured family pension -: An assured family pension means that if the retired employee passes away, their family will still receive some money every month.
Opposition pressure -: Opposition pressure means that other political parties pushed the government to make this new pension scheme.