Hyderabad: The School Teachers Federation of India (STFI) on Sunday dismissed the Centre’s newly introduced'Unified Pension System (UPS) as being nothing more than a deceptive rebranding of the existing Contributory Pension Scheme (CPS). The organisation said the UPS was unacceptable, as it failed to address the fundamental issues plaguing the current pension system.
Their primary objection includes the continued reliance on a contributory mechanism. Although the new scheme guarantees 50 per cent of the salary as pension for employees who have completed 25 years of service and offers 60 per cent family pension for the families of employees who pass away while in service, the federation contended that these provisions are insufficient.
On Saturday, state government employees covered under the New Pension Scheme (NPS) had expressed their firm opposition to the UPA.
Raghuvender Karnam, a retired teacher, argued that the scheme’s optional nature, which allows employees to choose whether or not to contribute, was misleading and fails to provide the comprehensive pension security that employees are entitled to.
Ch Ravi, STFI national vice-president, emphasised that the real issue lay in the absence of any provision to abolish the contributory pension system. According to him, the government’s offer of a partially contributory pension failed to restore the security that the Old Pension Scheme (OPS) once provided, where employees were guaranteed a 50 per cent pension based on their last drawn salary, without any contributions from their side.
“The Central government’s proposal is nothing but old wine in a new bottle. We demand the full restoration of the Old Pension Scheme, which ensures financial security for employees without them having to contribute a single rupee. The new scheme, despite its promises, does not address the core issue of restoring true pension security,” Ravi added.
The teachers made it clear that they would continue to oppose any pension scheme that did not fully replace the CPS with the OPS. The federation called on the government to listen to the voices of employees and restore the old system, which they believe is the only true solution to the current pension crisis.
