Bare ActsThe Andhra Pradesh Guaranteed Pension System Act, 2023.

Section 3

Amendment status not verified — confirm the current text below against the official source.

Benefits of APGPS:- The APGPS subscriber shall be guaranteed the following benefits under this Act, subject to the provisions of sub-section (4) of section 6. (1) Top-up amount to ensure a monthly Guaranteed Pension at the rate of fifty percent (50%) of the last drawn basic pay, in case of a shortfall in the annuity received by the retired APGPS subscriber. (2) Top-up amount to ensure a monthly spouse pension at the rate of sixty percent (60%) of the Guaranteed Pension, in case of a shortfall in the annuity received by the spouse of the deceased APGPS subscriber, (3) Cost of Living Adjustment on the last drawn basic pay as per inflation adjusted dearness relief, as per the rules notified under this Act. (4) Top-up amount to ensure a monthly minimum Guaranteed Pension of Rs. 10,000/- (Rupees ten thousand only) in case of shortfall in the annuity received by the APGPS subscriber. (5) Providing a health care scheme for the retired APGPS subscribers.

Section 3 – The Andhra Pradesh Guaranteed Pension System Act, 2023. | DailyLaw.ai