Center catches a glimpse of Andhra's Guaranteed Pension Scheme model

Best security from the old scheme, higher rewards from the new one

Senior officials in the Union government are seeing merit in the demands of workers who entered service after January 2004 and are part of the New Pension System where their contributions are defined but benefits depend on the market. At least four Opposition-ruled states have already switched back to the Old Pension Scheme which offers defined benefits, and the BJP-Sena (Shinde) coalition in Maharashtra is not opposed to it. Although the YSR Jagan Mohan Reddy in Andhra Pradesh has proposed a new model, there are conversations about it even though no proposal has yet been placed on the Union Finance Minister's desk