Unified Pension Scheme: The Modi government at the center has approved the Unified Pension Scheme (UPS) scheme on Saturday. Under this, now employees who have served for at least 25 years will get 50 percent of the average basic pay of the last one year of the job as pension before retirement. Union Information and Broadcasting Minister Ashwini Vaishnav said that the government employees were demanding the assured amount for a long time.
23 lakh employees will get benefit
Under the Unified Pension Scheme, if an employee leaves the job after working for 10 years, he will be given an assured pension of ten thousand rupees per month. This step of the central government will benefit 23 lakh employees of the country. The Union Minister said that if an employee wants to choose either New Pension Scheme (NPS) or Unified Pension Scheme, he will also get this option.
The central government has brought this scheme in place of NPS. The Union Minister said, “Several meetings were held with JCS. The type of schemes in other countries were discussed. After this, India’s economy and the budget of the central government were looked at and to understand this, meetings were held with the Reserve Bank of India and the World Bank, after which this committee suggested a unified pension scheme.”
#WATCH Delhi: Union Minister Ashwini Vaishnaw said, “Today the Union Cabinet has approved the Unified Pension Scheme (UPS)… 50% assured pension, this is the first pillar of this scheme… Its second pillar is assured family pension… About 23 lakh central government employees will get this pension… pic.twitter.com/KBDWG4aK49
— ANI_HindiNews (@AHindinews) August 24, 2024
How much money will you get as pension
Union Minister Ashwini Vaishnav said, “In this, 50 percent assured pension is the first pillar of this scheme. For this, the employee must have served for at least 25 years. If the service of an employee is less than 25 years and more than 10 years, the amount of his pro rata pension will be made. The second pillar in this is assured family pension. Under this, if the employee dies, then 60 percent of the pension which was before the death of that employee will be given to the wife / husband of the deceased.”
The Union Minister said, “The third pillar of this scheme is assured minimum pension. Many times the service of government employees is less, due to which they are not able to get sufficient amount in pension. Central government employees had also described this as a big issue. Due to this, a provision of assured minimum pension of Rs 10,000 per month has been made in this scheme.”
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