Unified Pension Scheme, 10,000 rupees benefit to government employees

 The Union Cabinet has approved the Unified Pension Scheme under which government employees will get guaranteed pension after retirement, the decision was approved by the Union Cabinet on Saturday. Know what this scheme is and how it will benefit government employees? Who can take advantage of it?

Union Minister Ashwini Vaishnav gave this information on Saturday under the scheme, government employees will be guaranteed pension after retirement.

The new pension scheme of central government employees has been demanding reform in NPS for a long time now it has announced the government unified pension scheme fulfilling this demand Information and Broadcasting Minister Ashwini Vaishnav told the media that reform in NPS has been demanded by government employees PM Narendra Modi constituted a committee in April 2023 under the chairmanship of TV Sam Nathan, including JCM and after extensive discussions, the committee recommended an integrated pension scheme. Today the Union Cabinet has approved this scheme

What is Unified Pension Scheme?

Let us tell you that Unified Pension Scheme i.e. Integrated Pension Scheme is a new pension scheme for government employees under which employees will be guaranteed pension after retirement, this amount will be 50% of the average basic salary of 12 months before retirement.

Employees will be entitled to get this pension after 25 years of service, at the same time if a pensioner dies, his family will get 60% of the pension he was getting till then, except if the service of the employee is less than 25 years and more than ten years, the pension will be reduced. The amount will be determined on the basis of pro rata allocation. The important aspect is that the minimum amount of pension of the employees irrespective of their years of service shall not be less than Rs.10,000.

Who can join UPS?

Ashwini Vaishnav said that central government employees will have the right to decide whether to stay in the new pension scheme or join the unified pension scheme, adding that this will apply to all those who have already retired under the NPS since 2004.

Although the new scheme will come into effect from April 1, 2025, all those who have retired under NPS since its inception and are scheduled to retire by March 31, 2025 will also be eligible for all these benefits of UPS after adjusting whatever amount they have withdrawn. You will get the remaining amount

10 Important Things About Unified Pension Scheme

• The Unified Pension Scheme approved by the Union Cabinet will come into effect from April 1, 2025. Under UPS, the government has earmarked 50% of salary as pension for government companies.
• According to the new scheme, government employees will be eligible to receive as pension 50% of the average basic pay drawn in the last 12 months before retirement for a minimum qualifying service of 25 years.For defined family pension under the UPA scheme, 60% of an employee's pension can be withdrawn immediately before his death.
• Under this scheme, in case of fixed minimum pension, a government employee will be eligible to get ₹10,000 per month on retirement after at least ten years of service Integrated Pension Scheme has been launched in view of the widespread demand of government employees for changes in the new pension scheme.
• The NPS, which was implemented in the early 2000s, was criticized for not providing guaranteed pension amounts, leaving many employees uncertain about their financial security after retirement.
• Some changes in the new pension scheme were demanded by the employees and Modi also constituted a committee headed by Cabinet Secretary TV Somanathan.
• Ashwini Vaishnav said that the committee held more than 100 meetings with various organizations and almost all the states after which the plan was approved.
• Ashwini Vaishnav said that UPS is built on five key elements. The first and most important pillar is the Assured Yod Pension which directly addresses the primary demand of government employees for a guaranteed post-retirement income. The other pillars include the Assured Family Pension and the Assured Minimum Pension. It enhances the financial security provided by the scheme
• Under the new scheme, retirees will get a pension of 50% of their average basic pay from the last 12 months of service before retirement. This benefit is designed for people who have completed at least 25 years of service. will be proportionate
• In case of death of an employee, his family will get a pension which will be 60% of the pension received by the employee before his death. This provision ensures financial security to the dependents of the employee.
• The scheme also guarantees a minimum pension of Rs 10,000 per month if the employee has completed at least ten years of service.This measure is particularly important for low-paid employees who face inflation and financial uncertainties after retirement

PM Modi will ensure financial security of UPS employees

After announcing the UPS, Prime Minister Narendra Modi said that we are proud of all the government employees who are working hard for the progress of the country. The Unified Pension Scheme is going to ensure the dignity and financial security of these employees. shows

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