On Wednesday, the Indian government told the Supreme Court about a new plan called the Unified Pension Scheme (UPS). They believe this plan could solve some problems that judges have regarding their pension. The Supreme Court, led by Justices B R Gavai and Augustine George Masih, listened to the government lawyers, Attorney General R Venkataramani and Solicitor General Tushar Mehta.
This case is important because it talks about how pensions are paid to judges in the district courts and retired high court judges. The government shared that the UPS will provide judges and other workers a pension equal to 50% of their average salary over the last year before they retire.
The finance ministry announced this new pension plan on January 25. The UPS is for Central government workers who have been part of the National Pension System (NPS) and want this new option. However, if someone is fired, resigns, or is dismissed, they won’t get this assured pension.
The government explained that to get the full pension amount, a worker must have served for at least 25 years. The UPS was created to help about 2.3 million government employees choose between this new pension plan and the earlier NPS, which started on January 1, 2004.
The Supreme Court has decided to wait 12 weeks to see how the new plan works before making a final decision on these important pension issues.
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