Media sources suggest that the Indian government is considering a Universal Pension Scheme (UPS) to provide financial security for all citizens, including those in the unorganised sector. However, there has been no official confirmation from the government.
According to media reports, the scheme may include:
- A minimum assured pension of ₹3,000 per month after the age of 60.
- A 50% family pension for the spouse in case of the pensioner’s death.
- Voluntary participation, allowing individuals from all sectors to join.
- A possible integration of existing pension schemes under one system.
India has a large unorganised workforce with limited financial security post-retirement. Media reports suggest that the government is exploring ways to create a more inclusive pension system to address this issue.
If implemented, sources claim the scheme could be launched by April 1, 2025. However, there is no official confirmation yet, and the government is still working on the details.
The Universal Pension Scheme is currently under discussion, with no formal announcement. If introduced, it could benefit millions by ensuring financial stability after retirement. Citizens should await official updates from the government before making any financial decisions based on these media reports.
