Centre approves assured 50% of salary as pension for govt employees under Unified Pension Scheme
The scheme will be effective from 1 April, 2025.
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Saturday approved the Unified Pension Scheme (UPS), which aims to provide assured pension, assured family pension and assured minimum pension for government employees. The scheme will be effective from 1 April, 2025.
Under UPS, the government has assured 50 per cent of salary as pension for government employees.
As per the new scheme, government employees will be eligible to get 50 per cent of the average basic pay as pension, drawn over the last 12 months before superannuation for a minimum qualifying service of 25 years. As for assured family pension, 60 per cent of the pension of the employee can be immediately drawn before his/her demise. In case of assured minimum pension, government employees will be eligible to receive Rs 10,000 per month on superannuation after a minimum service of 10 years.
50% of the average basic pay drawn over the last 12 months prior to superannuation for a minimum qualifying service of 25 years
Proportionate for lesser service period upto a minimum of 10 years of service
Assured Family Pension 60% of the pension of the employee immediately before her/his demise
Assured Minimum Pension 10, 000 per month on superannuation after a minimum of 10 years of service
Inflation Indexation On assured pension, on assured family pension and assured minimum pension Dearness Relief based on All India Consumer Price Index for Industrial Workers (AICPI-IW) as in case of serving employees
Other features Lump-sum payment at superannuation in addition to gratuity
Festive offer
* 1/10th of monthly emolument (pay + DA) as on the date of superannuation for every completed six months of service
* This payment will not reduce the quantum of assured pension
The Cabinet also approved the continuation of the three umbrella schemes, merged into a unified central sector scheme namely ‘Vigyan Dhara’ of the Department of Science and Technology (DST).
The proposed outlay for the implementation of the unified scheme ‘Vigyan Dhara’ is Rs 10,579.84 crore during the 15th Finance Commission period from 2021-22 to 2025-26.
The Centre also approved the proposal ‘BioE3 (Biotechnology for Economy, Environment and Employment) Policy for Fostering High Performance Biomanufacturing’ of the Department of Biotechnology. The main features of the policy include innovation-driven support to R&D and entrepreneurship across thematic sectors.
