look news india
Ahmedabad: The central government has announced the implementation of a new integrated pension scheme with the aim of enhancing the security of central government employees after their retirement on January 24, 2025. Central Government announced this new notification, the notification has included the good aspects of the old and new National Pension Scheme of Pension. With the implementation of this new system, the employee will get a fixed amount of pension. The new scheme for central government employees will come into effect from April 1, 2025. Central employees registered under the National Pension Scheme will be given the benefits of the new scheme. However, some rules have been fixed to give them the benefits of the new pension scheme. Only those employees who fulfill these criteria will be given the benefits of the new pension scheme. To be eligible to avail the benefits of this scheme, an employee must have completed at least ten years of qualifying service as per the prescribed norms.
One, to avail the benefits of the new pension scheme, the employee will have to retire after at least ten years of service in the government. They will be given a fixed amount as pension from the date of retirement. Two, the employee will be eligible for the new pension scheme only if he has retired as per the rules prescribed by the government and no penalty has been imposed on him. He will also be given pension as per the provision of section 56(J) from the date of retirement. An employee who takes voluntary retirement after serving three, 25 years or more in Government service shall continue in service and pension will commence from the date of retirement on which he was due to retire. For example, if a person who joined government service in 2010 at the age of 23 years, takes voluntary retirement after 25 years i.e. in 2036, he will not retire from the date of voluntary retirement, but as per the rules, he Will retire. He will start receiving pension from the statutory date of retirement i.e. the date of his retirement in the year 2047.
However, the benefit of the Unified Pension Scheme will not be available to those who have been dismissed, removed from the job or have left the job.
The amount of pension will be determined according to the number of years of service
The amount of pension will be determined by calculating the number of years of service. Those who have rendered pensionable government service for 25 years or more will be given 50% of their average basic pay as pension. In other words, if a person has been in government service for more than 25 years and his basic salary is Rs 60,000, then he will get 50 percent of it as minimum pension of Rs 30,000. 50% of the average basic pay of the last twelve months will be calculated as their annual pension amount. In the last twelve months Rs. If he gets Rs 7.20 lakh as basic salary. Rs 3.60 lakh will be given as pension.
A Government servant who has been in pensionable Government service for a period of less than twenty-five years shall be granted pension in the prescribed proportion. Yes, to be eligible for pension the employee must complete at least ten years of government service. He will get a pension of at least Rs 10,000 per month. An employee taking voluntary retirement after 25 years of government service will be given pension only after reaching the date of retirement. Thus, the employees who have taken voluntary retirement and are working in a private company and getting pension by taking full salary, have been deprived of double benefits.
The employee will be allowed to choose the plan
The employee will be allowed to choose between NPS and UPS. Employees who have retired but have accepted the new pension scheme will also be given the opportunity to choose the option. Any amounts payable at the end of this change will be arranged by the Pension Authority.
