Overview
- Employees will contribute 10% of basic pay, with the state covering the balance to deliver the 50% assured pension.
- The government estimates a ₹13,000 crore one-time infusion and about ₹11,000 crore in annual contributions, rising with salary revisions.
- Key features include twice‑yearly DA hikes, 60% family pension after the pensioner’s death, gratuity up to ₹25 lakh, a minimum pension, and a special compassionate pension for CPS retirees.
- Major federations have withdrawn the January 6 indefinite strike call, while implementation awaits legal rule changes and administrative orders, including migration options for roughly 6.2–6.5 lakh CPS employees.
- Officials describe the design as closely aligned with OPS yet contributory, with pension funds to be invested via PFRDA instead of LIC.