Government workers will get an ensured minimum pension, a family pension, and an assured pension under the Unified Pension Scheme (UPS), which was unveiled by the Center on Saturday. The revised pension plan will take effect on april 1, 2025.
 
The plan, which was adopted by the Union cabinet today, ensures that if an employee completes a minimum of 25 years of service, they would get a pension equal to 50% of the average basic salary received during the previous 12 months. The pension will be commensurate with the amount of service provided. It guarantees a family pension equal to 60% of the employee's pension just before to their passing. Additionally, it ensures that after at least ten years of service, a minimum promised pension of Rs 10,000 per month would be paid upon superannuation.
 
Prime Minister Narendra Modi, who held the Union cabinet meeting, said the UPS ensured dignity and financial security for government employees. "We are proud of the hard work of all government employees who contribute significantly to national progress. The Unified Pension Scheme ensures dignity and financial security for government employees, aligning with our commitment to their well-being and a secure future," he posted.


 
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G GOWTHAM

25/08/2024 07:51 AM