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: PM
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, approved the Unified Pension Scheme (UPS) on 24 August 2024
The Modi Cabinet’s approval of the Unified Pension Scheme (UPS) is a game-changer for government employees. Under this scheme, the central government will fully fund the pension.
- After completing 25 years of service, employees will receive 50% of their last year’s Basic Pay as a pension.
- Those with more than 10 years of service will receive a minimum pension of ₹10,000.
- Employees now have the option to choose between NPS and UPS, giving them more flexibility and security.
- The scheme will be implemented from April 2025.
Features of the UPS are:
- Assured pension: 50% of the average basic pay drawn over the last 12 months prior to superannuation for a minimum qualifying service of 25 years. This pay is to be proportionate for lesser service period upto a minimum of 10 years of service.
- Assured family pension: @60% of pension of the employee immediately before her/his demise.
- Assured minimum pension: @10,000 per month on superannuation after minimum 10 years of service.
- Inflation indexation: on assured pension, on assured family pension and assured minimum pension
Dearness Relief based on All India Consumer Price Index for Industrial Workers (AICPI-IW) as in case of service employees
- lump sum payment at superannuation in addition to gratuity
1/10th of monthly emoluments (pay + DA) as on the date of superannuation for every completed six months of service this payment will not reduce the quantum of assured pension
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