A day after the central government announced the Unified Pension Scheme (UPS), the Maharashtra government on Sunday approved this scheme for state employees as well. Maharashtra has become the first state to implement this central scheme in its state. On Sunday, the Maharashtra cabinet approved this scheme. In this way, now the way has been cleared for the implementation of UPS in place of New Pension Scheme (NPS) in the state.
Know what will be the benefit to state employees
Actually, the central government said that about 23 lakh central government employees will get benefits under the Unified Pension Scheme. Even if the state governments implement this scheme, its benefits will be given. At the time of announcing this scheme, the central government had said that state governments can also implement it. The Unified Pension Scheme or UPS has been designed to provide better financial security to government employees by guaranteeing fixed pension and family pension. Apart from this, as inflation increases, there is also a provision for increase in pension under this scheme.
What is UPS
Actually, the central government has announced a new scheme, Unified Pension Scheme (UPS) for government employees. This pension scheme will be implemented for government employees from April 1, 2025. The government will give assured pension to the employees (Govt Employees) under this scheme. This scheme will also give pension to the family after the death of the employee. Along with this, minimum assured pension will also be given under this.
How much pension will the employees and their families get?
23 lakh government employees will get the benefit of UPS, under which 50 percent of the employee’s average basic salary of 12 months will be given for life after retirement. However, employees will have to serve for at least 25 years. Dearness Relief (DR) will also be added to this pension from time to time.
Talking about family pension, after the death of the employee, 60 percent of the employee’s pension will be given to any eligible member of the family.
On the other hand, if an employee has served for 10 years or more, he will be given a minimum pension of Rs 10,000.
You will also get this benefit along with pension
Under the Unified Pension Scheme (UPS), apart from gratuity, a lump sum amount will also be given on retirement. It will be calculated as 10th of the basic salary and dearness allowance for every 6 months of service of the employees. The amount of gratuity in this may be less than that of OPS.
Source (PTI) (NDTV) (HINDUSTANTIMES)