Oh wow! Now everyone will get pension, the government took this big decision regarding Universal Pension Scheme
Universal Pension Scheme: The country’s central government is getting ready to implement the “Universal Pension Scheme,” which will cover everyone who hasn’t been able to benefit from it up to this point. Indeed, the government’s goal in implementing the new Universal Pension Scheme is to provide pensions to both gig workers and employees in the unorganized construction industry. The article claims that the process of creating its proposal paper has already begun.
This is why the new pension plan was introduced
If rumors are to be believed, the administration is giving it careful thought, and the Labor Ministry has begun drafting its proposal paperwork. By incorporating several scheme types into one new plan, the government may establish a universal pension plan. The most important point is that the government wants to include self-employed people in the Universal Pension Scheme in addition to all paid workers. Stakeholders will be asked for recommendations once the proposal draft is complete.
Which pension plans are currently offered?
To provide pension benefits to the unorganized sector, the government now operates a number of pension programs. One such program is the Atal Pension Yojana, which offers investors a guaranteed pension upon reaching 60. In addition, the PM Shram Yogi Mandhan, or PM-SYM, program is in operation. It was created specifically to help domestic workers and street sellers, and it also guarantees a steady income beyond the age of 60.
