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There are five major components of the UPS benefits, starting with the assurance that government employees will receive half of their average basic pay drawn over their final 12 months in service prior to retirement, as a monthly pension for life. | Photo Credit: Getty Images/iStockphoto The story so far: Last weekend, the Union Cabinet…
Finance Minister Nirmala Sitharaman said the new pension scheme is better and will satisfy most government employees. | Photo Credit: ANI Accusing Congress of spreading misinformation, Finance Minister Nirmala Sitharaman on Tuesday (August 27, 2024) said the newly launched UPS is a new pension scheme and not a rollback. “It is not a rollback… it…
Read More “UPS a new scheme, not rollback as claimed by Congress, says Finance Minister” »
The story so far: Fulfilling a long-standing demand of government unions, the Centre on Saturday (August 24, 2024), unveiled a new ‘Unified Pension Scheme’ (UPS) assuring government employees half their last drawn salary as a lifelong monthly benefit. The UPS, which has been approved by the Union Cabinet, has several other features benefiting pensioners, such…
Read More “Unified Pension Scheme: How does it differ from the Old and New Pension Scheme?” »
Most state/Union Territory governments have also notified NPS of their new employees. New Delhi: The centre on Saturday approved the Unified Pension Scheme (UPS) for central government employees which is expected to impact 23 lakh employees, aimed at providing financial security and stability for government workers post-retirement. What are some key features of the UPS? …
Read More “Unified Pension Scheme Explained In 6 Simple Points” »
