The Central Government has given a huge gift to UPS government employees: under this, they will get a pension of ₹ 10000 for 10 years of service, while after 25 years of service, they will get a 50% pension.
The central government today made a big announcement for the government employees. The government employees who were confused about the pension, their confusion was resolved by the government today. The government announced the basic salary for the government employees under the Integrated Pension Scheme. It has been approved to secure 50% of the salary as pension. This means that 50% of the last basic salary of the government employees will be given to them as pension with the conditions.
The amount of 50% pension assured will be the average of the basic salary of 12 months before annuity, while provision has been made to give monthly pension of Rs 10,000 to employees who have completed their work for 10 years, it is for deceased government employees. There is a provision to give 60% of the last salary.
Under this plan, employees will receive a pension equal to 50% of the average salary of the last year after 25 years of service. 18.5% will be contributed by the government to UPS and this will include family pension, guaranteed minimum pension and a lump sum. Provisions have also been made for payment after retirement.
According to the scheme, around 30 lakh central employees will get direct benefits. If the state government implements UPS, 90 lakh employees will get their benefit tomorrow.
UPS Pension Plan Check
Apart from this, the government contributes around 14% to the National Pension Scheme i.e. NPS, which has now been increased to 18%. Apart from this, government employees will get the opportunity to choose between NPS and UPS only once.
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.