Unified Pension Scheme: Modi government has given a big gift to government employees. The Center has approved the Unified Pension Scheme (UPS). This scheme will be implemented from April 1, 2025. In this, central government employees will be able to choose either National Pension Scheme (NPS) or Unified Pension Scheme (UPS). At the same time, employees getting the benefit of NPS will also have the option to switch to UPS. At the same time, the state government can also adopt the Unified Pension Scheme.
During this, Union Minister Ashwini Vaishnav 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 benefit from the Unified Pension Scheme (UPS). Employees will have the option to choose between NPS and UPS.’
#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
Know the answers to 5 questions related to UPS here
Assured Pension
Under this scheme, government employees who work for 25 years will get a fixed pension. This pension will be 50% of the average basic salary of the 12 months immediately preceding retirement.
Fixed Minimum Pension
If a government employee retires after working for 10 years, he will get Rs 10,000 as pension.
Fixed Family Pension
In this scheme, if a government employee dies, his family will get pension.
Inflation Indexation Benefit
In this scheme, employees will get DR money according to inflation. This will be based on the All India Consumer Price Index for Industrial Workers.
gratuity
In this, the employee will get a lump sum amount as gratuity. In this, the employee will get 10th part of the salary and allowance of the last 6 months. This will not have any effect on the assured pension of the employee.
