Panel will be formed to study Centre’s UPS scheme: TN Finance Minister

CHENNAI: State Finance Minister Thangam Thennarasu on Saturday informed the Assembly that the TN government would constitute a committee to study the Unified Pension Scheme (UPS) announced by the Union government.

Replying to a query raised by party MLA CVMP Ezhilarasan in the State Assembly, minister Thennarasu said that the Centre has announced the UPS as an alternative to the National Pension Scheme (NPS) and Contributory Pension Scheme, but it has yet to issue the guidelines and mode of implementation for the unified pension scheme.

Stating that the objective of the UPS was to ensure a minimum pension to government employees, Thangam Thennarasu said that the State government would constitute a committee in consultation with the CM after the union government notifies the UPS guidelines.

“We will take measures to implement the scheme based on the committee’s recommendations,” he added.