Government Approves New Unified Pension Scheme: Ensuring Financial Security for Central Employees

Описание: The Union Cabinet has approved a new Unified Pension Scheme (UPS) for Central government employees, effective from April 1, 2025. The UPS guarantees a pension equal to 50% of the average salary from the last 12 months of service. The government will increase its pension corpus contribution from 14% to 18.5% of basic pay and dearness allowance, while the employee contribution remains at 10%. Key features include a minimum pension of Rs 10,000 for those with at least 10 years of service, inflation indexation, and a family pension at 60% of the employee's pension after their death. The scheme is optional for those currently enrolled in the National Pension System (NPS).

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