The Andhra Pradesh government’s new model for government employees’ pension, which marks a calibrated shift from the YSRCP (Yuvajana Sramika Rythu Congress Party) government’s poll promise of reverting to the Old Pension Scheme (OPS) to now a semi-guaranteed pension topped with additional benefits, is being viewed as a template that offers a fiscally viable solution and could be replicated by other states. It is learnt that a hybrid model along the lines of the Andhra pension model is now being viewed favourably among policymakers for central government employees as well.
The Andhra Pradesh Guaranteed Pension System (APGPS) Act, 2023, which got notified as an ordinance on October 20, is applicable to the employees who had been recruited on or after September 1, 2004, and whose pay and allowances are drawn from the Consolidated Fund of the State and have opted to subscribe to the APGPS.
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