New Delhi: Unified Pension Scheme (UPS) is coming into effect from 1 April 2025. Declared last year by the Narendra Modi government, the UPS seeks to provide fixed pension security to employees working in central government offices.
This scheme under the National Pension System (NPS) is mainly intended for central government workers. The scheme, which will be implemented on April 1st, may eventually be expanded to include employees working in state government offices.
People who are in a government job and are already enrolled in the NPS will have the opportunity to choose UPS.
Under UPS, a person who has worked for at least 25 years will receive a pension equal to 50% of their average basic salary for the last 12 months before their retirement. If someone has served for more than 10 years, they would receive a pension of at least Rs 10,000 per month.
In case of death of the payout holder after superannuation, family payout @60% of the payout admissible to the payout holder immediately before his demise, shall be assured to the legally wedded spouse (spouse legally wedded as on the date of superannuation or on the date of voluntary retirement or retirement under FR 56(j), as may be applicable).
The Central Government employees, who are covered under NPS, are eligible to submit their option for UPS under National Pension System
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