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Unified Pension Scheme: The Modi government has given a big gift to the government employees. The central government has announced a new pension scheme. It will be called the Unified Pension Scheme or UPS, which will be implemented from April 1, 2025. Union Information and Broadcasting Minister Ashwini Vaishnav has said that it has been decided to start the Unified Pension Scheme (UPS) for government employees, a consensus has been reached on this in the Union Cabinet meeting. It is worth noting that PM Narendra Modi spoke to the employee organizations today.
Unified Pension Scheme: There will be discount in inflation index, this benefit will also be available in gratuity
Inflation index benefit will be available in UPS. Apart from gratuity on retirement, one-tenth of the monthly salary (salary + DA) for every six months of service will be added to the deposit amount and given on retirement. If an employee has worked for a minimum of 25 years, then at least 50 percent of the average salary of the last 12 months before retirement will be given as pension. Apart from this, if a pensioner dies, then his family will get 60 percent of the pension received at the time of death.
Integrated Pension Scheme: If you leave the job after 10 years, you will get a pension of 10 thousand rupees
Under the Unified Pension Scheme, if someone leaves the job after 10 years of service, he will get a pension of ten thousand rupees. Union Minister Ashwini Vaishnav said that employees will also get the option to choose either the New Pension Scheme or the Unified Pension Scheme. The first pillar of this new pension scheme is 50 percent pension after retirement. At the same time, the second pillar is the pension received by the family. Ashwini Vaishnav said that about 23 lakh employees will benefit from the Unified Pension Scheme (UPS) of the Central Government.
Integrated Pension Scheme: PM Narendra Modi wrote- 'I am proud of all government employees'
PM Narendra Modi wrote on the cabinet decision, 'We are proud of all the government employees who work hard for the progress of the country. Unified Pension Scheme (UPS) is going to ensure dignity and financial security of these employees. This step reflects our government's commitment to their welfare and secure future.'
Integrated Pension Scheme: New Pension Scheme was introduced in 2004
The old pension scheme was abolished in 2004. The new pension scheme was implemented in the same year. In the new pension scheme, 10 percent of the employee's salary is deducted for pension contribution. The government contributes 14 percent. Gratuity is not included in the new pension scheme. The amount of pension received after retirement is not decided in advance but depends on the fluctuations in the market.
