AP assembly passes Guaranteed Pension System Bill

October 5, 2023

The Andhra Pradesh Assembly passed the Andhra Pradesh Guaranteed Pension System Bill-2023.
It will now bring all the state government employees under the Contributory Pension System (CPS) replacing the Old Pension System (OPS).
Under the Guaranteed Pension System, all state government employees will be eligible for a guaranteed monthly pension of 50 per cent of their last drawn basic salary.
There is an addition of dearness relief (DR) which will be announced twice a year and will increase the quantum of pension.
The scheme will ensure a monthly spouse pension at the rate of 60 per cent of the guaranteed pension amount after the death of the pensioner.
A retired government employee will get a minimum Rs 10,000 monthly pension.
The scheme will combine elements of both the new and the old pension schemes.
Those dismissed or removed from service and facing compulsory retirement due to disciplinary action will not be eligible under the scheme.