Centre announces new pension scheme, employees to get assured minimum fund
The scheme guarantees a pension of 50 per cent of the average basic pay drawn over the last 12 months, provided the employee has completed a minimum of 25 years of service.
The Centre on Saturday announced a new pension scheme called the Unified Pension Scheme (UPS) in which government employees will get assured pension, family pension and assured minimum pension. The new pension scheme will come into force from April 1, 2025.
The scheme, approved by the Union Cabinet today, guarantees a pension of 50 per cent of the average basic pay drawn over the last 12 months, provided the employee has completed a minimum of 25 years of service. For those with lesser service, the pension will be proportionate.
The Union Cabinet, led by Prime Minister Narendra Modi, has given the green light to the Unified Pension Scheme (UPS) for government employees, a significant move that promises an assured pension for the country’s central government workforce. The scheme is set to benefit 23 lakh central government employees and could extend its reach to 90 lakh employees if state governments choose to adopt the same framework.
The UPS, which will be implemented starting April 1, 2025, introduces a range of new benefits, including an assured pension equivalent to 50 percent of the average basic pay drawn over the last 12 months prior to retirement. To qualify for this, employees must have a minimum of 25 years of service. For those with shorter service periods, the pension amount will be proportionate, provided they have served for at least 10 years
Union Cabinet under the leadership of PM Shri narendramodi ji approves Unified Pension Scheme(UPS), a gift for govt employees:
⏩ 50% of basic pay as pension after 25 years
⏩ Guaranteed Rs 10,000 pension after just 10 years
⏩Choice to opt between NPS or UPS
A monumental step in securing the future of our hardworking public servants!
What is UPS, understand?
Actually, the pension scheme announced by the government will come into effect from April 1, 2025. Under this, a person who has worked in a government job for 10 years will get a pension of Rs 10,000. A person who has worked for 25 years will be given full pension.
At the same time, if an employee dies while on the job, his wife will be given 60 percent pension. If an employee has worked for 25 years, then at least 50 percent of the average salary of the last 12 months before retirement will be given as pension.
All NPS holders will get the option to go to UPS. The government will pay arrears for this. Employees who have retired since 2004 will also get its benefit. The central government also said that if the state government wants to implement UPS, then they can also implement it.
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UPS યોજનાની વિસ્તૃત માહિતી માટે અહી ક્લિક કરો
UPS સરકારની નવી પેન્શન યોજનામાં આ બાબત ધ્યાનમાં રાખજો આ સમાચાર અહીથી વાંચો
મહત્વપૂર્ણ લિંક
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