The Andhra Pradesh Guaranteed Pension System Act, 2023
The Andhra Pradesh Guaranteed Pension System Act, 2023
The Andhra Pradesh Guaranteed Pension System Act, 2023, establishes a hybrid pension framework for state government employees recruited after September 1, 2004, who opt into the scheme. It regulates pension payouts by guaranteeing retired employees a top up amount if their National Pension System annuity falls short of fifty percent of their last drawn basic pay, along with a minimum monthly pension of ten thousand rupees, inflation adjustments, and healthcare benefits. This legislation matters because it provides financial security and stability to public servants and their surviving spouses, bridging the gap between unpredictable pensions and defined social security benefits.
- 0. Preamble
- 1. Short title, extent and commencement :-(1) This Act may be called the
- 2. Definition:-In this Act, unless the context otherwise requires.,
- 3. Benefits of APGPS:- The APGPS subscriber shall be guaranteed the
- 4. Conditions of Eligibility for AvailingBenefits under APGPS:-(1)The
- 5. Registration into APGPS:-(1) The existing NPS subscribers shall
- 6. Amount of Guaranteed Pension:-(1) Upon retirement of the
- 7. Spouse Pension upon death of the retired APGPS subscriber:-(1) In
- 8. Amount of Guaranteed Pension:- (1) The authorities concerned with
- 9. Power to make Rules :-(1) Subject to the provisions of this Act, the
- 10. Power to remove Difficulties:-If any difficulty arises in giving effect to the
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