CM Stalin Unveils Tamil Nadu Assured Pension Scheme, Guarantees 50% Last Pay

• CM Stalin announced the Tamil Nadu Assured Pension Scheme (TAPS), guaranteeing 50% of last-drawn basic pay for government employees and teachers.
• TAPS offers benefits comparable to the Old Pension Scheme (OPS), ensuring financial security and stability post-retirement.
• Employees contribute 10% of basic salary; the State covers the remaining financial responsibility, including a Rs 13,000 crore one-time and Rs 11,000 crore annual contribution.
• The scheme includes dearness allowance revisions, family pension (60%), gratuity up to Rs 25 lakh, and minimum pension for those not completing qualifying service.
• The announcement led to the withdrawal of a proposed indefinite strike by employee unions JACTTO-GEO and FOTA-GEO.

Why It Matters: CM Stalin launched TAPS, guaranteeing 50% last-drawn pay, ensuring financial security for TN govt employees.