T.N. announces assured pension scheme for State govt. staff
Tamil Nadu Chief Minister M.K. Stalin on Saturday announced the new Tamil Nadu Assured Pension Scheme (TAPS) for State government employees. Under the new arrangement, State government employees will be provided with an assured pension equal to 50% of their last-drawn basic pay.The State government made the announcement after taking into consideration a report submitted recently to the Chief Minister by a three-member Pension Committee headed by Additional Chief Secretary (Rural Development and Panchayat Raj) Gagandeep Singh Bedi, which studied various pension schemes and arrived at a suitable model for Tamil Nadu.
Under TAPS, employees will have to contribute 10% of their basic pay to the pension fund, while the additional fund required to provide the assured pension will be borne by the State government.
Pensioners will be given dearness allowance (DA) hikes twice a year on a par with serving government employees. In the event of death of a pensioner, 60% of the pension being received by the pensioner will be paid as family pension to the nominated beneficiary. At the time of retirement or in the event of death during service, government employees will be provided with a gratuity not exceeding ₹25 lakh, based on the tenure of their service.
Employees who retired after joining service under the Contributory Pension Scheme without drawing a pension in the intervening period before the implementation of TAPS will be granted a “special compassionate pension”.
With the introduction of TAPS, the Tamil Nadu government will have to incur an additional expenditure of ₹13,000 crore towards pension funds. In addition, the State will have to contribute approximately ₹11,000 crore every year as its annual contribution, an amount that is likely to increase based on the salary of employees.
Later, in a post on X, the Chief Minister said, “The Dravidian model government has fulfilled a 20-year-long demand of the government employees through TAPS”.
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