AP Guaranteed Pension Scheme 2024 Eligibility, Benefits, Motive?

Andhra Pradesh Guaranteed Pension Yojana 2024

AP Guaranteed Pension Scheme 2024: Recently, a new scheme was launched by the Government of Andhra Pradesh. Whose name is the AP Guaranteed Pension Scheme? Through this scheme, the government will provide pensions to the employees. If you are an eligible and willing citizen of the state. Then this article is going to be very important for you. Through this article, we are going to give you information related to the AP Guaranteed Pension Scheme 2024, such as the purpose of the scheme, benefits and features, eligibility criteria, how to apply, etc. We request that you read the article until the end.

AP Guaranteed Pension Scheme 2024

Let us tell you that the AP Guaranteed Pension Scheme 2024 has been launched by the state government. This new GPS scheme will replace the existing Contributory Pension Scheme (CPS). Which was closed by the cabinet. Under this scheme, all government employees of the state will get a higher daily allowance (DA) after retirement without reducing their 50% pension. The AP Guaranteed Pension Scheme 2024 issued by the Government of Andhra Pradesh will become a role model for other states as well. So let’s go ahead and find out.

AP Guaranteed Pension Scheme 2024
Andhra Pradesh Guaranteed Pension Yojana 2024

Highlights of the AP Guaranteed Pension Scheme

Name of the scheme AP Guaranteed Pension Scheme
State Andra Pradesh
Objective To provide a higher Daily Allowance (DA)
Beneficiaries All State government employees
Official Website NA

The objective of the AP Guaranteed Pension Scheme

The main objective of introducing the Guaranteed Pension Scheme by the Government of Andhra Pradesh is to provide financial assistance to the employees of the state by providing pensions. Through this scheme, a monthly pension of ₹ 50,000 will be given to the retired at the age of 62, and about ₹ 1.20 lakh will go to him at the age of 82. The Guaranteed Pension Scheme launched by the State Government will become a model scheme. Other state governments will also start providing pension facilities to the citizens of their states.

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Benefits and Features of the AP Guaranteed Pension Scheme

  • The AP Guaranteed Pension Scheme has been started by the state government. Under which pensions will be provided to government employees.
  • This has followed similar calls by government employees to abandon the New Pension Scheme (NPS), also known as the Contributory Pension Scheme (CPS), and go back to OPS.
  • Along with this, the employees who have a part in OPS will be given a pension until the end of their lives.
  • A 7.5% increase every five years until the death of the employee as well as his or her spouse will be given by the state government; the government will also pay a dearness allowance on the pension amount.
  • The State Government will provide a guaranteed pension of 33% of the last drawn income instead of the State’s contribution of 10% of the basic pay.
  • Under the AP Guaranteed Pension Scheme, all eligible citizens can improve their economic status.
  • if the employees are ready to contribute more than 14%. So once again, matching will be done equally by the state government. So the following offer is a guaranteed pension of 40% of the last accumulated income.

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Eligibility Criteria for AP Guaranteed Pension Scheme

  • The benefit of this scheme will be given to the citizens of Andhra Pradesh.
  • The beneficiary receiving the benefit of the AP Guaranteed Pension Scheme should be a government employee.
  • All state government employees will be eligible for a guaranteed monthly pension equal to 50% of their latest basic pay.

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How to apply under the AP Guaranteed Pension Scheme?

The official website has not been started by the state government to get the benefit of the AP Guaranteed Pension Scheme to all the eligible beneficiaries. We will inform you of this article as soon as the Government of Andhra Pradesh launches the official website. You can register yourself for the AP Guaranteed Pension Scheme very easily under the official website.

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