Group reiterates demand to revoke contributory pension scheme in T.N.

Representatives of the Contributory Pension Scheme (CPS) Abolition Movement handed over a plea to Tamil Nadu government's Chief Secretary N. Muruganandam at the Secretariat in Chennai on Friday (May 16, 2025), reiterating their demand to revoke the CPS.
Speaking to reporters, P. Frederic Engels, State coordinator, CPS Abolition Movement, said the ruling DMK, in its electoral manifesto, had assured it would revoke the CPS and resume the Old Pension Scheme. 'But the government has constituted a committee to study this, which is not acceptable. Other States have revoked the CPS,' he pointed out.
If the State government did not accept their demand to revoke the CPS and resume the Old Pension Scheme, the CPS Abolition Movement would go ahead with a street-wise campaign in various parts of the State to underline their demand, the association said.

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Assured Minimum Pension: In the case of superannuation after a minimum 10 years of service, the UPS has a provision of an assured minimum pension of Rs 10,000 per month. Inflation Indexation: There is a provision of indexation benefit on assured pension, on assured family pension and assured minimum pension. top videos View all Gratuity: Lump-sum payment at superannuation in addition to gratuity. It will be 1/10th of the monthly emolument (pay + dearness allowance) as on the date of superannuation for every completed six months of service. This payment will not reduce the quantum of assured pension. (With Inputs from PTI) About the Author Business Desk A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover More Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! tags : National Pension Scheme (NPS) Location : New Delhi, India, India First Published: June 18, 2025, 19:19 IST News business » savings-and-investments Unified Pension Scheme: Employees Now Eligible For Retirement, Death Gratuity Benefits, Says Minister

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3 days ago

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