UPS ensures dignity, financial security for govt employees, PM Modi

Prime Minister Narendra Modi said Saturday the Unified Pension Scheme ensures dignity and financial security for government employees, aligning with the government’s commitment to their well-being and secure future.

His remarks came after the Union Cabinet approved an assured 50 per cent of salary as pension for 23 lakh government employees who joined service under the National Pension System (NPS).

The National Pension System is applicable for government employees joining the service after April 1, 2004. It was based on the premise of contribution rather than defined benefit applicable for employees prior to the NPS.

“We are proud of the hard work of all government employees who contribute significantly to national progress. The Unified Pension Scheme ensures dignity and financial security for government employees, aligning with our commitment to their well-being and a secure future,” Modi said in a post on X.

Announcing Cabinet decisions, Union Information and Broadcasting Minister Ashwini Vaishnaw said that under the Unified Pension Scheme (UPS), government employees will now be eligible to get 50 per cent of the average basic pay drawn over the last 12 months before the superannuation as pension.

For this full pension or 50 per cent of pay as the pension, he said, the eligibility service length will be 25 years.

However, he said, it would be proportionate for a lesser service period up to a minimum of 10 years of service.

NPS subscribers can now opt for the Unified Pension Scheme (UPS), which offers assured pension applicable from the beginning of the next financial year. (PTI)

Hot this week

Meghalaya man missing in Bangkok

Shillong, Jan 10: A 57-year-old Meghalaya resident, Mr. Treactchell...

Pay hike of Assam ministers, MLAs likely as 3-member panel submits report

Full report likely by Oct 30 Guwahati Sept 25: There...

ANSAM rejects Kuki’s separate administration demand, says bifurcation not acceptable

Guwahati, Sept 8: Rejecting the separate administration demand of...

Meghalaya Biological Park Inaugurated After 25 Years: A New Chapter in Conservation and Education

Shillong, Nov 28: Though it took nearly 25 years...

Meghalaya’s historic fiber paves the way for eco-friendly products and sustainable livelihoods

By Roopak Goswami Shillong, Oct 25: From making earbuds to...

POEM-4 re-enters Earth’s atmosphere: ISRO

Bengaluru, Apr 5: ISRO on Friday said the fourth...

HC upholds repeal of varsity Act

Shillong, Apr 5: The Meghalaya High Court on Friday...

Over 13,000 ST students get post matric scholarships

Shillong, Apr 5: Over 13,000 Schedule Tribe (ST) students...

Approach life as a ‘marathon’, Conrad tells IIM graduates

Shillong, Apr 5: Chief minister Conrad K Sangma has...

More villages to be adopted as ‘textile hubs’: Paul

Shillong, Apr 5: The state government has taken an...

LSG beat MI by 12 runs: Pandya’s maiden five-wicket haul in T20 cricket goes in vain

Lucknow, Apr 4: Hardik Pandya's maiden five-wicket haul in...

7 dead as tractor falls into deep well

Chhatrapati Sambhajinagar, Apr 4: Seven women farm labourers, two...

PM Modi meets Yunus, flags concerns over safety of minorities in B’desh

Bangkok, Apr 4: In his first meeting with Bangladesh's...
spot_img

Related Articles

Popular Categories

spot_imgspot_img