BRAND-NEW DELHI: After the Union Cabinet on Saturday authorized the Unified Pension Scheme (UPS) for public servant, which will certainly offer an ensured minimum pension plan and a household pension plan, Prime Minister Narendra Modi claimed that the brand-new system will certainly guarantee self-respect and economic protection for public servant.
“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,” the Prime Minister claimed in an article on X.
Around 23 lakh Central public servant stand to take advantage of theUnified Pension Scheme These staff members will certainly currently have the alternative to pick in between the New Pension Scheme (NPS) and theUnified Pension Scheme The state federal governments will certainly additionally be offered the alternative to select theUnified Pension Scheme If the state federal governments select UPS, the variety of recipients will certainly be around 90 lakh.
The system will certainly work from April 1, 2025. Hailing the choice of the Cabinet chaired by Prime Minister Modi, Union Home Minister Amit Shah claimed in an article on X: “Congratulations to our central government employees on the approval of the Unified Pension Scheme by PM Shri @narendramodi Ji in the Union Cabinet today. With the approval of the scheme, the Modi govt has reiterated its commitment to the financial security of our central government employees, who form the backbone of the nation’s governance.”
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As per the Cabinet choice,Central public servant will certainly be offered the alternative of picking in between NPS and UPS. The existing Central federal government NPS clients will certainly additionally be offered the alternative to switch over to UPS.
Highlights of Unified Pension Scheme:
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pension plan of 50 percent of the ordinary standard pay attracted over the last twelve month before superannuation for a minimal certifying solution of 25 yearsAssured
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for minimal solution approximately a minimum of ten years of solutionProportionate
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@ 60 percent of pension plan of the staff member right away prior to her/his deathAssured Family Pension
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@ Assured Minimum Pension 10,000 monthly on superannuation after minimal ten years of solutionRs
