Mint Primer: How an Andhra scheme can save pension reforms
SummaryThe Andhra Pradesh Guaranteed Pension System Bill, 2023, passed by the state assembly on 27 September, is a mix of the Old Pension Scheme (OPS) and the New Pension Scheme (NPS) introduced in 2004
MUMBAI : Andhra Pradesh’s new Guaranteed Pension System (GPS) is a hybrid of the old and new pension schemes. It offers the best of both worlds—a guaranteed pension without burdening the state significantly. Mint looks at its potential to salvage India’s hard-fought pension reforms.