7th pay commission: This is very useful news for central government employees. Now a new scheme is going to be implemented from next month. About 23 lakh central government employees will benefit from its implementation.
7th pay commission: This is very useful news for central employees. A new scheme is going to be implemented from April 1 next month. This scheme is the Unified Pension Scheme (UPS). The Unified Pension Scheme is going to be implemented from April 1. Let us tell you that this is a new pension scheme started by the Center for government employees. Now on Thursday, the Pension Fund Regulatory and Development Authority (PFRDA) issued a notification implementing the Unified Pension Scheme. PFRDA said in a statement that the rules related to UPS will come into effect from April 1, 2025. Let us tell you that about 23 lakh central employees will benefit from its implementation.
What are the details of the scheme
UPS aims to strike a balance between the government’s fiscal policy and employee benefits. Under this scheme, there is a provision to give 50 percent of the average basic salary received in the 12 months before retirement as an assured pension. This includes an assured minimum pension of ₹ 10,000 per month for employees with at least 10 years of service. However, under OPS, while no specific minimum pension amount was mandatory, retirees generally received 50% of their last salary as pension. The scheme will be available as an option under the National Pension System (NPS), in which employees can choose between NPS and UPS.
Benefits of Family Pension
Apart from this, under the family pension, on the death of a central employee, his family will get 60% of the employee’s pension. Employees will contribute 10% of their basic salary in the scheme. At the same time, the government’s contribution will be 18.5%. Let us tell you that the government will contribute 14% in NPS. This scheme is applicable to central employees included in NPS, who opt for it. At the same time, employees with a minimum of 10 years of service will be entitled to a fixed minimum pension.
How to enroll?
– Eligible employees can submit their nomination and claim form online through the Prote CRA portal (https://npscra.nsdl.co.in) from April 1, 2025.
– Alternatively they can choose to submit physically.
– The government had earlier notified UPS as a new pension structure for central government employees under NPS on January 24, 2025.
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