Unified Pension Scheme: The NDA government, which came to power for the third time under the leadership of Prime Minister Narendra Modi, has made a big announcement. The Union Cabinet of the Modi government has approved ensuring 50 percent of the basic salary as pension for government employees under the Unified Pension Scheme (UPS). This means that 50 percent of the last basic salary of a government employee will be given as pension with certain conditions. Let us tell you that the amount of 50% assured pension will be the average of the basic salary of 12 months before annualization.
At the same time, there is a proposal to give a monthly pension of Rs 10,000 to employees who have worked for 10 years. Talking about family pension, there is a provision to give up to 60 percent of the last salary of the deceased government employee. Let us know about this new scheme in detail.
Features of the new plan
Under this scheme, the employee will get pension equal to 50 percent of the average salary of the last year after 25 years of service. The government will contribute 18.5 percent for UPS and provisions have also been made for family pension, guaranteed minimum pension and lump sum payment after retirement. 30 lakh central employees are expected to benefit from this scheme and if the state governments implement UPS, a total of 90 lakh employees will be able to benefit from it.
Gift on NPS too
In the National Pension Scheme (NPS), the government contributes 14 percent on its own, which has been increased to 18 percent. Along with this, employees will have the option of choosing UPS from NPS only once.
-Employees’ contribution will be included in both NPS and UPS. Government employees will not have to make any additional contribution in UPS. Only the government’s contribution is being increased in this. UPS will be implemented from the next financial year i.e. April 1, 2025.
– Let us tell you that NPS had become an election issue for government employees, Congress and other opposition parties had promised to end this scheme and implement the old scheme during the last few elections.
