Pension: Everyone will get a pension whether they have a job or not! The government is going to make such arrangements..

Till now, the benefit of pension in India has been limited to mostly employed people, but now the government is planning to make it available to everyone. A new Universal Pension Scheme is in the works, in which any person will be able to deposit money at his own will and avail the benefit of a pension after retirement. With this, self-employed people, small businessmen, and unorganized sector employees will also be able to move towards a secure future.

According to the report of ET, this scheme will work to bring the existing pension schemes on a single platform, so that more and more people can be covered. EPFO ​​​​(Employees Provident Fund Organization) is working on the framework of this scheme and the government is also considering linking it with the schemes of the state governments. If this scheme is implemented, it can give a new direction to social security in India.

Who can join the Universal Pension Scheme?

This scheme will not be linked to the job, that is, any person, self-employed people, shopkeepers, and unorganized sector employees will be able to contribute to it.
EPFO (Employees Provident Fund Organization) is preparing this scheme.
The government aims to bring the existing pension schemes on one platform and provide better benefits.

Which schemes will be included?

Pradhan Mantri Shram Yogi Maandhan (PM-SYM) and the National Pension Scheme (NPS-Traders) will be linked to this scheme.

Atal Pension Yojana is also being considered for inclusion in it.

There is a plan to create a separate fund for the workers in the construction sector, in which the money deposited under the BoCW Act will be used.

What will people get?

Any person who invests in this scheme from the age of 18 will get the benefit of a pension after the age of 60. The government wants the state governments to also merge their existing pension schemes in this scheme so that more people can benefit and the pension amount increases.

What does the world system say?

The universal pension system is implemented in many countries in America, Canada, Russia, China, and Europe, which provides financial security to the elderly after retirement.

In India, the pension system is mainly based on EPF and government pension schemes, but it is limited to employed people only.

This new universal pension scheme can prove to be a big step towards giving a secure future to every person.

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