Andhra Pradesh has started an important pension plan called the AP Guaranteed Pension Scheme 2025. This new pension scheme is for all state government employees. It replaces the old Contributory Pension Scheme (CPS) which the state cabinet has ended. Under this scheme, you will receive a monthly pension equal to 50% of your last basic salary after retirement. Let’s look at what this scheme offers, who can apply, and how it works.
Overview of the AP Guaranteed Pension Scheme 2025
The AP Guaranteed Pension Scheme is a new pension plan introduced by the Andhra Pradesh government for all state government staff. It offers a fixed monthly pension after retirement, giving financial security to employees. This helps you get a steady income after retirement, equal to half of your latest basic pay.
Andhra Pradesh became the first state in India to bring this model, which other states may follow as an example. The scheme replaces the earlier Contributory Pension Scheme. It also makes sure that your Dearness Allowance (DA) increases without lowering your pension amount.
Main Features of AP Guaranteed Pension Scheme
- You will get a pension of at least 33% of your last basic salary if the state contributes 10% of the basic salary, matched by the central government.
- If you choose to contribute more (14%), the pension will be higher, around 40% of your last drawn salary, with an equal match by the state.
- This scheme replaces the New Pension Scheme (NPS) or CPS, which many government employees wanted to leave.
- Your pension amount will increase by 7.5% every five years until death and will also be available to your spouse.
- Dearness Allowance (DA) will be paid with the pension and will increase twice a year.
Main Benefits of AP Guaranteed Pension Scheme
- Monthly pension equal to 50% of your last basic salary after retirement.
- Regular increase in pension amount due to dearness relief given twice annually.
- Financial support for you and your spouse even after retirement.
- The pension amount may nearly double after 20 years due to DA increases. For example, a pension of 2,50,000 at retirement could grow to around 1,20,000 after 20 years.
Who Can Apply? Eligibility Criteria
All Andhra Pradesh state government employees can apply for this pension scheme. If you work as a state government employee, you can get a guaranteed pension equal to half of your last basic salary under this new plan.
How to Apply for AP Guaranteed Pension Scheme
The Andhra Pradesh government has not yet announced the official website for the AP Guaranteed Pension Scheme. When the website is live, you will be able to register and apply for the pension scheme online. Keep an eye on official announcements for updates.
This pension scheme aims to provide financial security and peace of mind to all state government employees in Andhra Pradesh. You can expect a better pension system that values your service and helps you enjoy retirement comfortably.