Unified Pension Scheme: Modi government has given a big gift to government employees. The government has approved the Unified Pension Scheme. It has been decided to launch Unified Pension Scheme (UPS) i.e. Integrated Pension Scheme for government employees. It will come into effect on 1 April 2025.
Narendra Modi Government: The Narendra Modi government at the Center has now decided to launch Unified Pension Scheme (UPS) i.e. Integrated Pension Scheme for government employees instead of New Pension Scheme (NPS). There has been a consensus on this in the Union Cabinet meeting. Explaining about this decision, Union Minister Ashwini Vaishnav said that 50% pension of the average monthly basic salary of the last 12 months is guaranteed. The central government has announced a new pension scheme, its name will be Unified Pension Scheme or UPS.
Not one.. many benefits
If an employee has worked for a minimum of 25 years, then at least 50 percent of the average salary of the last 12 months before retirement will be available as pension. If a pensioner dies, his family will get 60 percent of the pension received at the time of death. If he leaves the job after 10 years, he will get a pension of ten thousand rupees.
Under this, the benefit of dearness allowance attached pension will be provided to reduce the effect of inflation. In addition, an accumulated amount will be paid to the employees at the time of retirement. This amount will be an additional amount earned during the tenure of the employee, which will be a fixed part of his monthly salary and this amount will keep increasing for every six months of service.
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Benefit to 23 lakh employees
About 23 lakh employees of the Central Government will benefit from the Unified Pension Scheme through this scheme. Employees will have the option to choose either NPS or UPS. The benefit of inflation indexation will be available under the Unified Pension Scheme.
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