Tag: Guaranteed Pension Scheme

The new Guaranteed Pension Scheme (GPS) for the Andhra Pradesh government employees is a hybrid model between the present Contributory Pension Scheme (CPS) and the Old Pension Scheme (OPS), according to its Finance Minister Buggana Rajendranath.The GPS was being introduced in view of the long-standing demand from the employees for review of CCS. However, as reversal to the non-contributory OPS was not financially feasible, the guaranteed pension system is a middle path, he said.  The gains from the investment portion of CPS were only below 20 per cent and the new...