Universal Pension Scheme Is a Timely Initiative

Hiren Pandit: The much-discussed 'Universal Pension Management Bill-2023' has been passed in the National Parliament to bring all the adult citizens of the country under the pension system apart from the government employees. However, a person has to contribute continuously for at least 10 years after joining the public pension scheme to get monthly pension benefits. Apart from this, an opportunity to bring government employees into this pension system by issuing a separate gazette has been kept in the bill. All citizens from the age of 18 years and above to the age of 50 can participate in the universal pension based on the national identit…