If due to accidental reasons both the persons use their funds before retirement. He no longer has any amount due at retirement. In that case, the first friend will be able to live a decent life as it is a pensionable job while it is difficult to say the same about the second friend. Also if the GPF for accidental reasons. If the employee dies in the current job, his family gets a pension, while if the CPF. What if the employee dies in the line of duty? (I have only recently learned that a certain amount is receivable, but how long will that amount last? And then ..? It is a matter of how the retirement life of the GPF employee as well as the CPF employee will be spent.
In addition, there will be a strong basis of pension for subsistence. When the CPF. Employees have to deal with contingencies but also their livelihood. In these circumstances, a question arises as to whether the CPF, after devoting its invaluable three decades of its life to the government, has done its duty with complete fidelity and sincerity. What is the employee getting? Is Jeff, 60, a CPF member? Will the employee go elsewhere to find a job, stand as a security guard or beg at a signal? The question of how to survive without coming and old age will be complicated, if you think once. Given the current situation, even thinking of a life without a pension is daunting.
The reason I tell you this is that CPF. And GPF is not what you get at retirement but what you don't get after retirement. GPF Employees continue to receive medical services for life while CPF Employees stop getting those services.
In addition to the GPF. The government fulfills the responsibilities of post-retirement pension etc. of the employees while CPF. Whose door will the employee knock on for pension or other matters after retirement? And the pension that is to be received is hardly to be had. Besides, the basic question of subsistence is there. If you manually check your details on the NPS Pension Calculator, you will get more information.
It is also worth noting that at a time when India is on the path of progress and on the heels of other developed countries in every field, like other countries, unemployment allowance, free education, free medical care, old age pension, adequate housing. Not only is the facility being provided but the pension which was being received in the form of GPF has also been taken away.
According to a friend like Tara, CPF in states like Madhya Pradesh, Uttar Pradesh, Bihar and Chhattisgarh. Turn off GPF again. If it has been started, then he must have calculated something, right? Haven't you seen the benefits you see in CPF?
Even though India is a developing country, the average life expectancy of India is only 10 years. So are India's retirees becoming such a burden to the country that we can't even get them a pension to live with pride and self-respect as they have given the country three invaluable decades of their lives.
When the average life expectancy of India is only 60 years, how long can a person who retires at the age of 58 or 60 be able to get a pension? Don't they have the right to live with dignity for so long? After serving the country during their precious life, can't they expect so much from the country? After discussing the above, I have to tell you one thing, that you are an employee of any government department and of any class, but our situation is almost the same.
Why are we seeing our old age getting darker? How can we see this? I have not been able to sleep peacefully at night since this question came to me, how are you sleeping so peacefully? I humbly request you to join hands and show real interest in this subject and take steps to save yourself from future misery. It is only possible for the government to change its CPF scheme and convert it into a GPF scheme