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Unified Pension Scheme implementation
January 28 , 2025
3 days
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- The central government officially issued a gazette notification for the Unified Pension Scheme (UPS).
- The scheme will come into effect on April 1, 2025.
- It aims to strike a balance between the Old Pension Scheme (OPS) and the National Pension Scheme (NPS).
- It will provide guaranteed pensions to government employees after retirement to ensure their financial security.
- The UPS will apply only to the central government employees who are under the National Pension Scheme (NPS) and choose the UPS option.
- Under UPS, Employees with 25 or more years of service will receive a guaranteed pension of 50% of their average basic salary in the last 12 months.
- Employees with less than 25 years of service will receive a proportional pension.
- Employees with at least 10 years of qualifying service will receive a guaranteed pension of Rs 10,000 per month.
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