UPS Pension Scheme: The Union Cabinet has approved the Unified Pension Scheme (UPS), effective from April 1, 2025, offering assured pensions to government employees. The scheme promises 50% of an employee’s average basic pay as a pension, a minimum pension of ₹10,000 per month, and other benefits like assured family pension, inflation indexation, and a lumpsum payment at superannuation. The UPS, a significant political move ahead of upcoming Assembly elections, addresses criticisms of the New Pension Scheme (NPS), under which pensions were not assured.
#AshwiniVaishnaw #UPS #UnifiedPensionScheme #PensionScheme
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