UPS Pension Calculator: Unified Pension Scheme will start from the next financial year. Lakhs of central employees will benefit from this new pension scheme. After this scheme, people have many questions in their mind. The main question among these is how many years of service is required to get pension under UPS. Apart from this, how will the pension calculation be done in the New Pension Scheme?
UPS Pension Calculator: The Government of India has launched the Unified Pension Scheme for Central Government Employees. Around 23 lakh employees will benefit from this new pension scheme .
Many questions come to the mind of pensioners regarding the New Pension Scheme. The main question among these questions is how much pension will pensioners get after retirement. Along with this, how many years of minimum job is required to get the benefit of pension. We will give you the correct answer to all these questions.
After how many years will pension be available
To get pension under the Unified Pension Scheme, the beneficiary will have to work for a period of at least 25 years. Even if he works for 20 or 23 years, he will not get the benefit of UPS pension. Now the question comes that how much pension will the employee get.
According to UPS pension calculation, the employee will get pension by adding 50 percent of his basic salary in the year before retirement along with dearness relief. We explain you with the example of some basic salary.
Also Read-Â Minimum Monthly Pension: After UPS, will the government increase the minimum pension to Rs 7500? Know what the Finance Minister said
How to calculate pension? (How to calculate UPS Pension?)
- Employees whose basic salary is Rs 50,000 will get pension under UPS which will be 50 percent of the basic salary i.e. Rs 25,000 + the amount formed by adding dearness relief.
- Similarly, an employee with a basic salary of Rs 55 thousand will get pension by adding Rs 27,500 with dearness relief.
- Employees whose basic salary is Rs 60,000 will get a pension of Rs 30,000 + the amount obtained after adding dearness relief.
- Employees with a basic salary of Rs 70,000 will get a pension of Rs 35,000 plus dearness relief.
- Employees whose salary is Rs 75,000 will get a pension of Rs 37,500 + the amount obtained after adding dearness relief every month.
- Employees with a basic salary of Rs 80,000 will get a pension of Rs 40,000 + the amount obtained after adding dearness relief.
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