​Unified Pension Scheme

On 24th August, 2024, the Union Cabinet approved the Unified Pension Scheme (UPS) which promises government employees an assured pension post-retirement, set to be effective from April 1, 2025.

Key Points

  • The UPS guarantees retirees a fixed pension, which is a significant shift from the New Pension Scheme (NPS). This addresses one of the major criticisms of the NPS, which lacked an assured pension.
  • The scheme includes five key features:
    1. Guaranteed Pension: Employees will receive 50% of their average basic pay over the last 12 months before retirement, with a minimum service period of 25 years required.
    2. Minimum Pension Guarantee: A minimum pension ....
Do You Want to Read More?
Subscribe Now

To get access to detailed content

Already a Member? Login here


Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.

Related Content