Universal Pension Scheme in Works: Voluntary and Contributory Scheme Being Planned by modi government

Universal Pension Scheme: The Unified Scheme Might Incorport The Atal Pension Yojana, which is presented is presented by pfrda. (AI Image)

Universal Pension Scheme: India is exploring a nationwide voluntary pension initiative that would provide Social Security Coverage to all citizens, according to Officials. Initial discussions have been begun at the labor and employment ministry Regarding this Comprehensive Pension Program.
Officials indicate that the fundamental structure of the scheme, under the Employees' Provident Fund Organization (EPFO), is currently under development.
The objective is to provide benefits to workers in the unorganized sector, traders, self-comloyed individuals, and any person aged 18 and Above Who Wishes to Receive Pension Benefits AFTER Turning 60.

Universal Pension Scheme

“The scheme, which would be voluntary and contributory, will not be tied to Employment and hence will be open for everyone to contribute and earn a pen
Following the planning phase, the ministry will engage with stakers to finalize the universal pension scheme details.
The Initiative AIMS to Incorporate Existing Central Schemes to Enhance Their Appeal and Simplife Procedus Whilst Expanding Coverage Accross Society.
The government is considering consolidating Various Pension Programmes, Including PM-Sym and NPS-traders, into a comprehensive scheme. These optional programs provide subscribers aged 60 and Above with a monthly Pension of ₹ 3,000, Based on Contributions Ranging from ₹ 55 to ₹ 200, Matched by Government Funding.
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The unified scheme might incorporate the Atal pension yojanaWhich is presented overseen by pfrda.
The proposal sugges utilising the cess collected through the building and other construction workers act to provide pensions for construction industry workers.
The Tentral Government May Encourage States to Integrate their Pension Schemes into this unified program, enrsrating equitial display of government contributions, enhanced penal Duplicate Beneficiary.
By 2036, India's Elderly Population (AGED 60 and Above) is projection to Reach 227 Million, Constituting 15% of the Total Population, Increasing to 347 Million (20%) by 2050.
Several Developed Nations, Including the US, Europe, Canada, Russia and China, MainTain Comprehensive Social Social Insurance Systems ENCOPASSIN SOCIAL SECIRATY, Pense, Pense, Pense, Pensation and UNALATCAREMP Benefits.
Currently, India's Social Security Framework Primarily Comprises The Provident Fund System, AlongSide Old-Mege Pensions and Health Insurance by the Center to Specific Beneficiaries, predominantly that living below the poverty line.

(Tagstotranslate) Business News (T) Voluntary Pension Scheme (T) Universal Pension Scheme (T) Social Security Coverage (T) Employees Employees' Provident Fund Organization (T) Atal Pension YoJana