{"id":1290018,"date":"2025-01-26T14:14:44","date_gmt":"2025-01-26T08:44:44","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1290018"},"modified":"2025-01-26T14:15:22","modified_gmt":"2025-01-26T08:45:22","slug":"unified-pension-scheme-announced-for-govt-employees-check-top-features","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/unified-pension-scheme-announced-for-govt-employees-check-top-features\/","title":{"rendered":"Unified Pension Scheme Announced For Govt Employees: Check Top Features"},"content":{"rendered":"\n<p>The Centre has announced the Unified Pension Scheme (UPS) under the National Pension System (NPS), effective April 1, 2025. The scheme offers guaranteed retirement benefits, including 50% of the average basic pay over 12 months before retirement for employees with 25 years of service. It also provides family pensions, dearness relief, and a \u20b910,000 minimum monthly pension.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/01\/dd-1-1-1280x720-1-1024x576-1.jpeg\" alt=\"\" class=\"wp-image-1290025\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/01\/dd-1-1-1280x720-1-1024x576-1.jpeg 1024w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/01\/dd-1-1-1280x720-1-1024x576-1-300x169.jpeg 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/01\/dd-1-1-1280x720-1-1024x576-1-768x432.jpeg 768w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Key Highlights of the Unified Pension Scheme<\/h3>\n\n\n\n<p>The Union finance ministry has notified the operationalisation of the Unified Pension Scheme (UPS), offering a <a href=\"https:\/\/www.hindustantimes.com\/india-news\/central-govt-notifies-unified-pension-scheme-for-employees-101737816891343.html\">guaranteed<\/a> pension framework for central government employees under the National Pension System (NPS). The scheme, effective from April 1, 2025, addresses the long-standing demand for assured retirement benefits.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Features of the Unified Pension Scheme<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Eligibility<\/strong>: Central government employees covered under the NPS can opt for UPS. Employees who retired after 2004 are also eligible.<\/li>\n\n\n\n<li><strong>Retirement Benefits<\/strong>:\n<ul class=\"wp-block-list\">\n<li>50% of the average basic pay drawn over the 12 months before retirement for employees completing 25 years of service.<\/li>\n\n\n\n<li>Proportionate pension for employees serving between 10 to 25 years.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Family and Survivor Pension<\/strong>: Fixed at 60% of the last drawn salary for deceased employees.<\/li>\n\n\n\n<li><strong>Minimum Pension<\/strong>: Employees with a minimum of 10 years of service will receive \u20b910,000 as a monthly pension.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Indexation and Inflation Protection<\/h3>\n\n\n\n<p>The UPS will be indexed to the Consumer Price Index for Industrial Workers (CPI-IW), ensuring pensions are adjusted for inflation. Dearness relief, calculated based on CPI-IW, will protect pensioners from rising living costs.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Transition from NPS to UPS<\/h3>\n\n\n\n<p>While the NPS remains an option for employees, the UPS provides an assured monthly payout, addressing concerns about market-linked fluctuations under NPS. The shift to UPS highlights the government&#8217;s effort to balance fiscal prudence with employee welfare.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Background and Approval<\/h3>\n\n\n\n<p>The UPS was approved by the Union cabinet in August 2024 after a panel, led by TV Somanathan, recommended the framework. The scheme aims to resolve grievances about the market-dependent NPS and offers a sustainable alternative to the old pension scheme (OPS).<\/p>\n\n\n\n<p>Stay informed about further updates and developments regarding the Unified Pension Scheme.<\/p>\n\n\n\n<p>4o<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Centre has announced the Unified Pension Scheme (UPS) under the National Pension System (NPS), effective April 1, 2025. The scheme offers guaranteed retirement benefits, including 50% of the average basic pay over 12 months before retirement for employees with 25 years of service. It also provides family pensions, dearness relief, and a \u20b910,000 minimum [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":1290025,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[4812,5958],"class_list":["post-1290018","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-nps","tag-unified-pension-scheme"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Unified Pension Scheme Announced For Govt Employees: Check Top Features - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/unified-pension-scheme-announced-for-govt-employees-check-top-features\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Unified Pension Scheme Announced For Govt Employees: Check Top Features - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"The Centre has announced the Unified Pension Scheme (UPS) under the National Pension System (NPS), effective April 1, 2025. 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