Unified Pension Scheme: The Bharatiya Janata Party geopolitically manipulates its way to garner support from government employees. It has introduced a Unified Pension Scheme that pegs pension at 50% of salary with an adjustment for inflation. This move has come at a time when, during recent elections, Congress party’s promise to reinstate the now-defunct, unfunded Old Pension Scheme did magic, especially in the state of Himachal Pradesh.
Countering Congress’s OPS Gains Among Government Employees
It said the BJP move was aimed at neutralizing the gain that Congress made in respect of government employees following its OPS promise. According to a report by The Times of India, on August 25, finalized after 18 months, the UPS was announced with perfect timing in terms of when key assembly elections in states like Haryana, Jammu and Kashmir, Maharashtra, and Jharkhand are about to be held. Traditionally, government employees have always been a strong support base of the BJP, more so in Delhi where elections are due to be held in February. This new Congress play has now threatened this BJP voter base, as has been evident in Himachal Pradesh.
Minimal Impact on BJP’s Election Success
Though Congress did win the OPS narrative in some states, this matter hardly made any difference here both in Lok Sabha and assembly elections, as the BJP succeeded in retaining its grip over the state. However, discontent among some government employees during the Lok Sabha polls did hint that the BJP could face serious problems in the future elections. Announcement of the UPS has been viewed as one strategic move to pacify government employees and ensure their votes.
Union Minister Ashwini Vaishnaw termed the Congress stand as inconsistent, stating though OPS was their main issue in Himachal and Rajasthan, it was not implemented there. He dubbed Congress’ promises an “illusion” saying BJP ensured intergenerational equity with a fully funded UPS, thereby having a sound fiscal order for that scheme. He rubbished allegations that the UPS of the UPS as a political timings thing and called it a well-thought-out scheme under the leadership of PM Modi.
The BJP’s UPS is viewed by political observers as an effort to regain lost ground with its most important voter base, the community of government employees, and dent Congress’s previous successes with the OPS narrative in key states.
Pension Calculation and Service Requirements
The new assured pension scheme gives the beneficiaries 50% of their average basic pay from the last 12 months prior to retirement, with a minimum of 25 years of service. Proportionate pension for less than the minimum period shall start with a minimum of 10 years. In addition to this, there will be a minimum guaranteed pension of ₹10,000 per month to retirees after 10 years of service. In the event of death, 60% of the pension that is payable to him shall be paid to the surviving family.