The government will launch a universal pension scheme for the common people. The government has started preparing for it. NDTV has given this news quoting sources. It is said that people working in the unorganized sector will also be able to take advantage of this universal scheme.
This universal pension scheme can prove to be very helpful in providing pension security to a large part of the population. Currently, pension facility is available only to people working in government and private jobs. The government had opened the National Pension Scheme for the common people in 2009. But, people have not shown much interest in it.
The new scheme will be for both salaried class and self-employed
Experts say that a large part of the population works in the unorganized sector. He spends a large part of his income. He is not able to save much for his future. In such a situation, he has to face financial problems as he grows older. The new Universal Pension Scheme will also be for salaried employees and self-employed people. It is said that contribution in the new pension scheme will be on a voluntary basis. The government will not make any contribution from its side in this.
Right now the option of NPS and APY
To start a new universal pension scheme, the government can merge some existing schemes into this scheme. It is being told that after the draft of the new scheme is ready, the government will start consultation about it. It is not possible for workers of the unorganized sector to invest in NPS. However, they can invest in Atal Pension Yojana (APY). By investing in this scheme, one can get a pension of Rs 1,000 to Rs 5,000. This pension is available on completion of 60 years of age.
There will be a new pension scheme for common people
Right now there is a need for such a pension scheme in which people from every income group can participate. Experts say that the government can launch a scheme between NPS and APY. Right now the pension amount in APY scheme is very low. NPS is a bit complicated for common people, especially people with low income. In such a situation, the new scheme can be such that it can overcome this shortcoming. The government will take the opinion of the common people about the new universal scheme.
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