Universal Pension Scheme: Any Indian citizen can contribute to this scheme. The government is planning to bring this scheme under EPFO. The government is currently working on the format of this scheme.

Universal Pension Scheme: On the lines of developed countries, a new pension scheme will be introduced in India. Under this, everyone will get the benefit of pension. The name of this new pension scheme will be Universal Pension Scheme (UPS). Sources have revealed that the Labor Ministry has started working on this scheme. The aim of this scheme is to provide financial security to all the citizens of the country in old age.

All citizens will get benefits

Any Indian citizen can contribute to this scheme. The government is planning to bring this scheme under EPFO. The government is currently working on the format of this scheme. As soon as this work is completed, the Labor Ministry will bring it to the public and talk to people, experts, various ministries and all stakeholders to make the scheme better and more useful.

If sources are to be believed, the government can include many new and old schemes in this scheme to make it more attractive. The government wants that maximum number of people from unorganized sector like laborers, self-employed people and businessmen should get the benefit of this scheme. 

Which schemes can be included 

It is not yet clear from the government's side which schemes will be included in this. Experts say that the government can include some major and attractive schemes in this scheme. Like- 

Pradhan Mantri Maan Dhan Yojana and National Pension Scheme - Both these schemes are optional. In these, a pension of Rs 3000 is received every month after 60 years. In this scheme, you can deposit Rs 55 to Rs 200 every month. The government will also deposit as much money as you have contributed. 

Atal Pension Yojana can also be included in this big scheme. Currently, this scheme comes under PFRDA. Apart from these two schemes, the government can also include the cess collected under the Building and Construction Workers Act. This will also enable pension to be given to workers in the construction sector. 

Apart from this, the central government can also encourage the state governments to include their pension schemes in it. This will also increase the pension amount and people will be able to get more benefits. 

Estimated number of elderly people in the country

According to the United Nations' "India Aging Report 2023", by 2036, the number of elderly people in India is expected to be around 15 percent of the country's total population, while by 2050 this figure can reach 20 percent. In such a situation, it is important for the government to implement a pension scheme in India like countries like America, Europe, China, Canada, Russia, which includes facilities like pension and health. Social security in India is mostly dependent on funds and pensions. In such a situation, this new pension scheme can prove to be a big step in the field of social security.