Government announces unified pension scheme

Unified pension scheme: There is great news for government employees. Unified Pension Scheme (UPS) has been approved by the central government, making a big announcement for government employees. Union Minister Ashwini Vaishnav shared its information on Saturday. Under this scheme, government employees will be provided with sure pension after retiring.

Government announces unified pension scheme

As you all know, demand was being raised for a long time to improve the new pension scheme (NPS) of central government employees. Now the government has announced the unified pension scheme, fulfilling this demand. Giving information about the decisions of the cabinet, Information and Broadcasting Minister Ashwini Vaishnav told the media, ‘There has been a demand for improvement in NPS from government employees.

In April 2023, PM Narendra Modi formed a committee on this under the leadership of team Somathan. After comprehensive counseling and discussion including JCM (Joint Advisory Mechanism), the committee has submitted a recommendation of the Integrated Pension Scheme. Now the Union Cabinet has agreed to this scheme.

Employees will get sure pension after retirement

Unified Pension Scheme i.e. Integrated Pension Scheme is a new pension scheme for government employees. Under this, employees will get sure pension after retirement. This amount will be 50% of 12 months average basic pay before retirement. Employees will be eligible to get this pension after 25 years of service. On the other hand, if a pensioner dies, then 60 percent of the pension received by that time will be given to the family. Apart from this, if the service of the employee is less than 25 years and is more than 10 years, then the pension amount will be fixed on the basis of proportional allocation.

Minimum amount will not be less than 10 thousand rupees

The important point is that whatever the work of the employee’s work, the minimum amount of his pension will not be less than 10 thousand rupees. Ashwini Vaishnav said that the central government employees will get the right to stay in the new pension scheme (NPS) or to join the Integrated Pension Scheme (UPS). Along with this, he said that this will apply to all those people who have already retired under NPS since 2004.

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New pension scheme will be effective from 1 April 2025

Although the new scheme will be effective from April 1, 2025, all the people retired under the introduction of NPS and people who have retired by 31 March 2025 will also be entitled to all these benefits of UPS. After adjusting whatever money he has withdrawn, he will get the previous dues.

Under this pension scheme, employees will not have to contribute separately, the central government will contribute 18 percent, the contribution of the employee will be ten percent like NPS. Employees You will also get the benefit of inflation indexation. In addition to gratuity on retirement, separately from the amount collected In exchange for every six months of service, tenth part of the monthly salary (salary+DA) will be added and given on retirement.

Important links related to the scheme