Leh :-The Union Cabinet, under the leadership of Prime Minister Narendra Modi, has approved a landmark decision in the form of the Unified Pension Scheme (UPS) for central government employees. This progressive initiative is set to significantly enhance the pension benefits for 23 lakh central government employees and potentially extend to around 90 lakh beneficiaries if state governments opt in.
The Chairman/CEC Adv. Tashi Gyalson, LAHDC, Leh extends heartfelt gratitude to Union Cabinet headed by Prime Minister Narendra Modi for their dedication and decisive action in bringing this crucial initiative to fruition.
Information and Broadcasting Minister Ashwini Vaishnaw highlighted the key features of the new scheme, which will be effective from April 1, 2025.
The scheme assures a pension of 50% of the average basic pay drawn over the last 12 months prior to superannuation for employees with a minimum of 25 years of service. For service between 10-25 years, the pension is proportionate.
Besides, the UPS provides a guaranteed family pension equivalent to 60% of pension of the employee immediately before his/her demise.
The UPS also assures minimum pension of Rs 10,000 per month on superannuation, provided the employee has completed at least 10 years of service.
The scheme also includes inflation indexation and a lump-sum payment upon superannuation, reinforcing the government’s commitment to employee welfare.
The Cabinet’s decision marks a significant step forward in improving the financial stability and quality of life for government employees and their families. The government extends its gratitude to Prime Minister Narendra Modi and all Cabinet members for their dedication and support in realizing this crucial initiative.
This scheme highlights the government’s ongoing efforts to modernise and enhance the benefits for its workforce, ensuring a more secure and dignified retirement for its employees.
