Unified Pension Scheme: The central government won the hearts of the government class by approving the UPS scheme to find a solution to OPS. Under this scheme, there is a provision to give pensions to government employees every month. The government is going to implement this Unified Pension Scheme i.e. UPS from 1 April 2025. The benefit of UPS scheme will be available to the same employee whose minimum tenure will be 10 years.
If you have worked for less than 10 years, then you will not be able to get the benefit of UPS scheme. If you are doing a government job, then you can know some important conditions to get the benefit of the scheme so that there will be no problem. However, employees can choose either UPS or NPS. If you want to take advantage of the UPS scheme, then first you have to understand its important points.
Quickly know the important things related to Unified Pension Scheme
The UPS scheme will work to relieve the financial tension of old age to the employees. Employees will be given pension in the form of 50 percent of the last salary. 50% pension of the last salary will be given only if minimum 25 years of service is given. Along with this, under the scheme, 10% of salary and DA will be given as a one-time payment at the time of retirement for every six months of service.
If an employee has served for a minimum of ten years, then a minimum pension benefit of Rs 10,000 will be given. If an employee is associated with NPS, then he can add his name to UPS. The option of transfer from NPS to UPS will also be given. If a government employee dies, then his wife will easily get 60% of the employee’s pension as family pension.
State governments also have the option
State governments can also implement the UPS scheme. If they want to connect state employees with the UPS scheme, then they can approve it and implement it in their state. Maharashtra has become the first state to approve UPS. Now some other states can also approve UPS.
For information, let us tell you that the employees were demanding restoration of OPS for a long time, but the government has come up with UPS scheme to solve this problem.
