Thousands of State government employees from Pune district took out a protest march from Zilla Parishad to district collectorate demanding Old Pension Scheme as part of their ongoing strike. (Express Archive Photo by Arul Horizon)
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Saturday approved the Unified Pension Scheme (UPS), which aims to provide assured pension, assured family pension and assured minimum pension for government employees. The scheme will be effective from 1 April, 2025.
Under UPS, the government has assured 50 per cent of salary as pension for government employees.
As per the new scheme, government employees will be eligible to get 50 per cent of the average basic pay as pension, drawn over the last 12 months before superannuation for a minimum qualifying service of 25 years. As for assured family pension, 60 per cent of the pension of the employee can be immediately drawn before his/her demise. In case of assured minimum pension, government employees will be eligible to receive Rs 10,000 per month on superannuation after a minimum service of 10 years.
Unified Pension Scheme
