TN CM Stalin launches new assured pension scheme for govt employees

Fulfilling the over 2-decade-old demand of government employees and teachers, Chief Minister M K Stalin on Saturday announced a new plan, the "Tamil Nadu Assured Pension Scheme," and said it would provide the benefits of the Old Pension Scheme. Fifty per cent of the last drawn salary of government employees would be the assured pension, the chief minister announced. For this purpose, the state government would provide, alongside the 10 per cent contribution of the employees, the required entire additional funding to the Pension Fund. Pensioners receiving 50 per cent assured pension would be granted Dearness Allowance hike every six months on a par with government employees. In case of the death of pensioners, 60 per cent of the pension amount would be granted as family pension to the nominee of the deceased. If an employee dies in harness, or in case of death at the time of retirement, upto a maximum of Rs 25 lakh (Death gratuity) would be provided in keeping with the length of ..