New Delhi : Tamil Nadu Chief Minister M.K. Stalin on Saturday announced “Tamil Nadu Assured Pension Scheme”, fulfilling the long-standing demand of government employees and teachers. The Chief Minister said that this new scheme will be similar to the old pension scheme in terms of benefits and this will provide financial security to lakhs of employees after retirement.

Assured pension of 50 percent of last salary
Let us tell you that according to the Chief Minister, under this scheme, retired employees will be assured 50 percent of their last salary as pension. For this, employees will contribute 10 percent of their salary, while the remaining required amount will be deposited in the state government pension fund. The government clarified that no additional financial burden will be imposed on the employees.

Benefits of dearness allowance and family pension
Under the new scheme, pensioners will get the benefit of increase in Dearness Allowance (DA) every six months like government employees. Apart from this, in case of death of the pensioner, 60 percent of the pension amount will be provided as family pension to his nominee.

Financial assistance on death during service
If an employee dies during service or at the time of retirement, a maximum amount of up to Rs 25 lakh will be given depending on his service period. Also, those employees who have taken retirement without completing the prescribed minimum service period will also be given minimum pension under the new scheme.

Special relief to employees associated with old NPS
A provision of special compassionate pension has also been made for the employees who joined the government service under the Contributory Pension Scheme (NPS) before the implementation of the scheme, so that they can also get the benefit of the new system.

Financial burden will increase on the government
The Tamil Nadu government has admitted that due to this scheme, an additional amount of about Rs 13,000 crore will have to be given to the pension fund. Apart from this, the government will have to bear an expenditure of about Rs 11,000 crore every year. The Chief Minister said that with the increase in the salaries of the employees, the government’s contribution will also increase every year.

Emphasis on the interests of employees despite economic challenges
Chief Minister Stalin said that despite the current financial condition of the state being difficult, it is the government’s priority to protect the interests of government employees and teachers. He appealed to the employees to cooperate in the smooth implementation of the scheme and assured that this system will provide equal benefits as the old pension scheme.

Employee organizations welcomed
Government employees and teachers organizations have welcomed this decision. Representatives associated with Joint Action Council and Jacto-Geo called it the result of their 20 to 23 years of struggle. Officials of many organizations reached the Secretariat and met the Chief Minister and expressed their gratitude to him for this decision.

Positive response from political parties
Many political parties including CPI have also supported this new pension scheme. The Chief Minister said on social media that the Dravidian model government has once again proved its commitment towards the people by fulfilling the decades-old demand of the employees. He described it as a special gift for the employees on the occasion of New Year and Pongal.