Congress president Mallikarjun Kharge said his party will continue to ensure accountability. | File photo
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 the Modi government’s ‘U-turns’.
The attack by the opposition party came a day after the Union Cabinet approved an assured pension of 50 per cent of salary for those who joined service after January 1, 2004, under the National Pension System (NPS).
Fulfilling the long-pending demands of government employees ahead of assembly elections in Haryana and Jammu and Kashmir, the Cabinet meeting chaired by Prime Minister Narendra Modi approved the Unified Pension Scheme (UPS), which ensures guaranteed pension.
Criticising the government, Congress president Mallikarjun Kharge said, “The ‘U’ in UPS represents the U-turns of the Modi government. After June 4, the power of the people has prevailed over the arrogance of the Prime Minister’s power.”
“Reduction in budget with regard to indexation and long-term capital gains. Sending Waqf Bill to JPC. Reduction in Broadcasting Bill. Reduction in lateral entry,” Kharge said.
“We will continue to ensure accountability and protect 140 million Indians from this despotic government!” the Congress chief said in his post on X.
The new pension scheme also guarantees a minimum assured pension of Rs 10,000 per month on retirement after a minimum of 10 years of service.
This optional scheme will benefit 23 lakh central government employees, he said, adding that the number would be increased to 90 lakh if state governments want to join the scheme.
Announcing other features of UPS, Union Minister Ashwini Vaishnaw said that guaranteed family pension will be provided to the spouse of a deceased employee. Besides, there will be inflation indexation in guaranteed pension, guaranteed family pension and guaranteed minimum pension.
The sum of all these characteristics marks the transformation of the National Pension System (SNP), which promised pensions based on contributions from workers and the government.
The announcement came in a backdrop where several non-BJP states decided to revert to the erstwhile DA-linked pension scheme (OPS) and employee organisations in some other states raised demand for the same.
The NPS has been implemented for all government employees except those in the armed forces who joined the central government on or after January 1, 2004.
Under the old pension system (OPS), retired public employees received 50 percent of their last salary as a monthly pension. The amount continues to increase with the increase in DA rates. The OPS is not fiscally sustainable, as it is non-contributory, and the burden on the public treasury continues to increase.
First published: August 25, 2024 | 12:47 pm IS
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.