Overview
- Chief Minister M. K. Stalin announced the Tamil Nadu Assured Pension Scheme, offering retirees 50% of last-drawn basic pay as a guaranteed pension.
- Employees will contribute 10% of basic pay while the state covers the additional funding, with pensioners receiving dearness hikes twice a year.
- In case of a pensioner’s death, 60% of the pension goes to the nominee, and gratuity up to ₹25 lakh is available at retirement or death in service.
- Those retiring without the qualifying service will receive a minimum pension, and CPS-era retirees before TAPS takes effect will get a special compassionate pension.
- The state pegs the immediate fund need at about ₹13,000 crore and a recurring annual outlay near ₹11,000 crore; unions have withdrawn a planned January 6 strike, though an official start date was not specified, with employee representatives saying rollout was assured within the current financial year.