New Delhi: Union Cabinet authorizes guaranteed 50 percent of wage as pension plan for govt workers underUnified Pension Scheme The Narendra Modi- led main federal government has actually chosen to change the New Pension Scheme (NPS) with this brand-new strategy. The plan will certainly enter into impact on April 1, 2025.
The choice was validated in a current Union Cabinet conference. According to Minister Ashwini Vaishnaw, the Unified Pension Scheme (UPS) will certainly make certain a pension plan of 50 percent of the typical month-to-month standard wage over the previous year, intending to give far better monetary safety for public servant.
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Union Minister Ashwini Vaishnaw claims, “Today the Union Cabinet has approved Unified Pension Scheme (UPS) for government employees providing for the assured pension…50% assured pension is the first pillar of the scheme…second pillar will be assured family… pic.twitter.com/HmYKThrCZV .– RECTUM (@ANI)August 24, 2024
Under this plan, a dearness allocation will certainly be affixed to the pension plan to aid counter the effect of rising cost of living. Further, workers will certainly obtain a round figure settlement at the time of retired life. This settlement will certainly be a built up quantity gained throughout their solution which will certainly be a set part of their month-to-month wage and will certainly raise with every 6 months of solution.
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.(* )a worker has actually helped at the very least 25 years, they will certainly obtain a pension plan of at the very least half of their typical wage from the last year prior to retired life.
If situation of the pensioner’s fatality, their household will obtain 60 percent of the pension plan quantity. In, if somebody leaves their work after one decade, they will certainly obtain a pension plan of Further 10,000.Rs 23
2.3 million main public servant will certainly take advantage of this brand-newMillion Employees To Benefit
Approximately Unified Pension Scheme will certainly have the choice to select in between the NPS and the UPS. Employees will certainly likewise consist of advantages connected to rising cost of living indexing.The Unified Pension Scheme
