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Jagan Fulfils The Promise He Made In Padayatra!
By: Tupaki Desk | 8 Jun 2023 5:35 PM GMT
YS Jagan Mohan Reddy extensively toured the state ahead of the 2019 elections to know the issues faced by people. Before the elections, Jagan promised that he would scrap the CPS scheme. After becoming the Chief Minister of Andhra Pradesh, he has been implementing the promises he made one after the other.
Standing on his word, Jagan scrapped the CPS scheme giving a big relief to the state employees. By doing so, he fulfilled the promise he made in his Padayatra. After scrapping CPS, the Chief Minister announced a scheme that will benefit the state employees.
The Andhra Pradesh government announced the Government Pension Scheme(GPS) in place of the Contributory Pension Scheme(CPS). Government employees are happy with the new scheme as it comes with many benefits. GPS works similarly to CPS and assures more guarantee of pension. While employees should contribute 10 percent, the government will contribute 10 more percent.
Under GPS, employees will get 50% of the last drawn salary as a pension which is 150 percent higher than the CPS. Keeping the inflation and increasing prices in mind and the DA the Union Government announces once every six months, the state government will announce two DRs a year.
As an example of how the GPS works, if an employee retires with a basic salary of Rs 1 lakh in the last month in office, he/she will be given Rs 50,000 as a pension every month. The amount increases every month as two DRs are given every year.
Under the GPS scheme, the pension amount of the employee who retires at 62 will become as much as Rs 1,10,000 a month after 20 years. With this, the living standards of the employees can be safeguarded.
GPS was brought to see that employees will be happy and their lifestyle will not be hindered. CPS has no such facility. Governments in a few states announced that OPS will be brought. But that could happen and the concerned governments are thinking about how to go forward on this.
To benefit the state government and employees, the new scheme was brought in considering various aspects. As of 2070, the amount that will be paid by the state government will reach Rs 1,33,506 crores.
Standing on his word, Jagan scrapped the CPS scheme giving a big relief to the state employees. By doing so, he fulfilled the promise he made in his Padayatra. After scrapping CPS, the Chief Minister announced a scheme that will benefit the state employees.
The Andhra Pradesh government announced the Government Pension Scheme(GPS) in place of the Contributory Pension Scheme(CPS). Government employees are happy with the new scheme as it comes with many benefits. GPS works similarly to CPS and assures more guarantee of pension. While employees should contribute 10 percent, the government will contribute 10 more percent.
Under GPS, employees will get 50% of the last drawn salary as a pension which is 150 percent higher than the CPS. Keeping the inflation and increasing prices in mind and the DA the Union Government announces once every six months, the state government will announce two DRs a year.
As an example of how the GPS works, if an employee retires with a basic salary of Rs 1 lakh in the last month in office, he/she will be given Rs 50,000 as a pension every month. The amount increases every month as two DRs are given every year.
Under the GPS scheme, the pension amount of the employee who retires at 62 will become as much as Rs 1,10,000 a month after 20 years. With this, the living standards of the employees can be safeguarded.
GPS was brought to see that employees will be happy and their lifestyle will not be hindered. CPS has no such facility. Governments in a few states announced that OPS will be brought. But that could happen and the concerned governments are thinking about how to go forward on this.
To benefit the state government and employees, the new scheme was brought in considering various aspects. As of 2070, the amount that will be paid by the state government will reach Rs 1,33,506 crores.
