Centre approves ‘Unified Pension Scheme’ for govt employees
August 24, 2024 - PatialaPolitics
Centre approves ‘Unified Pension Scheme’ for govt employees
The central government on Saturday approved an assured 50 per cent of salary as pension for government employees under the Unified Pension Scheme.
Chaired by Prime Minister Narendra Modi, the Union Cabinet approved the scheme which is aimed at providing assured pension, family pension mention and assured minimum pension to government employees.
Union Minister Ashwini Vaishnaw told reporters, “Today the Union Cabinet has approved Unified Pension Scheme (UPS) for government employees providing for the assured pension.”
Under this, first pillar of the scheme is 50 per cent assured pension, second pillar is assured family pension. “About 23 lakh employees of the central government would benefit from the Unified Pension Scheme (UPS)…There will be an option for the employees to opt between NPS and UPS,” Vaishnaw said.