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In the unified pension system, a civil servant contributes 10% of their salary while the government contributes 18% each month on their behalf. After retirement, the civil servant receives 50% of their basic pay of the average of the last 12 months preceding retirement. The pension is indexed to inflation and increases every years. [14]
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However, employee’s contribution is 12% of the basic wage as per sec.2(b) of the act and employer’s share of contribution is also 12% of the basic wage as per sec.2(b) of the act. In employer contribution of 12%, 8.33% transfer to EPS (Employee Pension Scheme) and 3.67% transfer to EPF (Employee Provident Fund).
The Old State Pension, consisting of the Basic State Pension (alongside the Graduated Retirement Benefit, the State Earnings-Related Pension Scheme, and the State Second Pension; collectively known as Additional State Pension), is a benefit payable to men born before 6 April 1951, and to women born before 6 April 1953.
CPI-M formed the government in the state for nearly 25 years until BJP won the state elections in 2018. CPI-M made electoral promise to persuade the 80,800 pensioners and 1.04 lakh government employees among the 28 lakh voters in the state that OPS will be re-implemented if they vote the party to power again. [ 40 ]
2020 Education To improve school education in six states covering 10 million teachers. [25] [26] This is a continuation of GOI-World Bank efforts since 1994 towards the same goal. [25] Implemented through Samagra Shiksha Abhiyan. [25] Svamitva Yojana (Survey of Villages Abadi and Mapping with Improvised Technology in Village Area) CS MoPR 2020
In this system, an employee contributes 10% to 12% of his monthly salary here and his employer contributes a matching amount, with a total contribution of 20% to 24% of the employee's gross salary, while the state contributes an additional 1.16%, which makes it a total of 25.16% of the employee's gross salary.
Other states have launched state pension schemes that cover individuals from non-BPL households who are not eligible for social pensions under NSAP. In Odisha , for instance, all elderly above 59 years of age and widows whose annual income from all sources is below ₹ 24,000 (US$280) are eligible for the Madhu Babu Pension Scheme.