Tamil Nadu Introduces Assured Pension Scheme for Government Employees

Tamil Nadu's Chief Minister, M K Stalin, has introduced the Tamil Nadu Assured Pension Scheme. It aims to fulfill a two-decade demand from government workers and teachers, offering them half of their last drawn salary as a pension. The government will provide necessary funds alongside employee contributions.

In a move that addresses a long-standing demand, Tamil Nadu Chief Minister M K Stalin revealed the Tamil Nadu Assured Pension Scheme on Saturday. This initiative promises government employees and teachers the benefits of the Old Pension Scheme.

The scheme ensures that fifty percent of the employees' last drawn salary will be provided as a guaranteed pension. It reflects a commitment by the state to enhance the welfare of its workforce.

The state government will be supporting the Pension Fund with the necessary additional funding alongside a 10% contribution from employees, ensuring that the scheme has a sustainable financial foundation.

(With inputs from agencies.)