Tamil Nadu Assured Pension Scheme (TAPS): Features
Why in the news
Tamil Nadu launched the scheme to give employees pension security without the heavy fiscal cost of reviving the Old Pension Scheme (OPS).
Why it was introduced
- A DMK promise of better pension security.
- OPS restoration judged fiscally impractical.
- Union pressure before Assembly elections; a Gagandeep Singh Bedi committee’s recommendations.
Features
| Feature | Provision |
|---|---|
| Government contribution | Matching or higher |
| Pension | 50% of last month’s basic pay, more generous than UPS |
| Eligibility | Irrespective of length of service |
| Pension reset | None, unlike OPS |
| Dearness Allowance | Extended to pensioners and family pensioners |
| Special compassionate pension | For CPS retirees before TAPS began |
Exam angle
- Type: hybrid; aims at an assured, inflation-linked pension.