What is UPS: UPS was approved by the Center on Saturday. Under this, employees will have to contribute 10 percent like NPS. At the same time, 18.5 percent will be contributed by the government. Under this, a guaranteed 50 percent pension will be given to the employee who works for 25 years.
UPS in Maharashtra: After the approval of the Unified Pension Scheme (UPS) from the central government, Maharashtra has implemented it. With this, Maharashtra has become the first state to offer UPS to government employees. The Modi government had announced the Unified Pension Scheme during the Union Cabinet meeting on Saturday. Along with implementing UPS, the Maharashtra government has also given the option to switch from NPS to UPS. This decision in Maharashtra has been taken a few months before the assembly elections in the state.
Benefit to employees appointed after 2004
Let us tell you that after the approval of UPS by the Center, the central employee organizations were demanding the implementation of it from the state governments. Under UPS, 50% of the average basic salary of the last 12 months will be given to the employees as pension. There is also a facility of inflation adjustment in this. This decision has been taken to meet the demand of such government employees, who have been appointed in the year 2004 and after.
Benefit to 23 lakh central employees
23 lakh employees can benefit from the new pension scheme of the central government. If all the states implement this scheme, then more than 90 lakh employees will get its benefit. Employee leaders have demanded the implementation of the new pension scheme from the states. He said that political parties should not do politics on this issue. Although employees considered the old pension scheme to be the best, they are also happy with the new scheme.
Also Read- UPS vs NPS vs OPS: Which one will give you more money after retirement? Understand in simple language
90% of the rules of the old pension have been included
Shiv Gopal Mishra, Secretary (Staff Side) of the National Council of All India Railwaymen Federation and JCM, said that we should work wisely. We should see what we can get and what the government can give. 90% of the rules of the old pension have been included in the new pension scheme, so we are happy. The government is working on a lump sum amount, which the employees will get at the time of leaving the job. Mishra said that in this situation, nothing can be better than the new pension scheme.
He said that the state government employees and their organizations are also fighting to make good rules for the people who have joined the job since January 2004. Therefore, they will also demand from the state governments to implement this scheme quickly. Cabinet Secretary TV Somanathan, who headed the panel reviewing NPS, said that the Centre’s UPS template can be replicated by the states. He had said that more than 99% of the employees covered under NPS would benefit from shifting to UPS.
Which employees can switch from NPS to UPS, how much pension is guaranteed… know everything
