New Delhi: The Centre has introduced the Unified Pension Scheme (UPS), receiving mixed reactions from various quarters. While many central employees and organisations have welcomed the move, some prominent leaders, including Congress President Mallikarjun Kharge, have raised concerns. He mocked the BJP by claiming that the “U” in UPS stands for “U-turn,” a trend he suggested has become a hallmark of the BJP-led government’s third term.
Congress leader Rashid Alvi expressed reservations. He addvocated for a return to the earlier pension system, where retired employees received a pension based on their salary, with a 100 per cent pension payout instead of the proposed 50 per cent.
‘Prudent and welcome’
However, Praveen Chakravarty, President of Professionals Congress and Data Analytics and a close associate of Rahul Gandhi, was of a different opinion. He welcomed the government’s decision, terming it “prudent” and “welcome” highlighting the benefits of the UPS.
Chakravarty said that the earlier pension system, Old Pension Scheme (OPS), was reformed into the New Pension Scheme (NPS) in 2013 to reduce the burden on the majority poor, who indirectly fund the pensions of government employees. However, NPS lacked a minimum guarantee for retired families. He explained The UPS addresses this concern by combining the benefits of NPS with a minimum guarantee, making it a more sustainable and equitable solution.
Pension for govt staff in India is inherently a tax on the majority poor to pay the elite minority
So, OPS was reformed to NPS in 2013
But NPS did not assure a minimum amount for retired families
Now, UPS does that
UPS = NPS + Min guaranteeThis is prudent & welcome https://t.co/1Lz4GVuJyo
— Praveen Chakravarty (@pravchak) August 25, 2024
Who is Praveen Chakravarty?
Praveen Chakravarty has been instrumental in the Congress party’s performance in the 2024 Lok Sabha elections. Brought in to modernise the party, he is credited with being the mastermind behind the Shakti project. Apart from that, Chakravarty drafted the Nyay Yojana, which proved to be a crucial support for Congress. Before entering politics, he worked as an investment banker and angel investor at a think tank.
