The government will launch the Universal Pension Scheme for the common people. The government has started preparations for this. NDTV has given this news quoting sources as saying. 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 doing government and private jobs. The government opened the National Pension Scheme to the common people in 2009. However, people have not shown much interest in this.
New scheme will be for both salary class and self-simplication
Experts say a large part of the population works in the unorganized sector. He spends more part of income. He is not able to save much for his future. In such a situation, he has to face financial problems when aging. The new Universal Pension Scheme will also be for Salared Employees and Self-Employed people. It is said that the new pension scheme will be on voluntary basis. In this, the government will not do any contribution on its behalf.
Right now the option of NPS and APY
The government can merge some schemes already existing in this scheme to start the new Universal Pension 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 unorganized sector workers to invest in NPS. However they can invest in Atal Pension Yojana (APY). Investing in this scheme, you can get pension from Rs 1,000 to 5,000. This pension is found on completion of 60 years of age.
New pension scheme will be for common people
Right now such a pension scheme is needed, in which people of every income group can participate. Experts say that the government can launch a scheme between NPS and APY. Currently, the pension amount in the EPY scheme is quite low. NPS is a bit complicated for common people, especially people with low income. In such a situation, a new scheme can be such that it can overcome this deficiency. The government will take the opinion of common people about the new universal scheme.
