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 "Ashwini Vaishnaw, Ashwini, Vaishnaw, Railway minister")
Union Minister Ashwini Vaishnav (Photograph: PTI)
Union Cupboard, chaired by Prime Minister Narendra Modi, on Saturday, accepted assured 50 per cent of wage as pension for govt staff underneath Unified Pension Scheme (UPS).
“Right this moment the Union Cupboard has accepted Unified Pension Scheme (UPS) for presidency staff offering for the assured pension…50% assured pension is the primary pillar of the scheme…second pillar might be assured household pension…About 23 lakh staff of the central authorities would profit from the Unified Pension Scheme (UPS)…There might be an possibility for the workers to decide between NPS and UPS…,” introduced Union Minister Ashwini Vaishnaw forward of meeting elections in a single state and a Union Territory this 12 months.
The three pillars of UPS
50% assured pension scheme assures 50 per cent of the common primary wage for the final 12 months earlier than retirement as pension for presidency staff who full a minimal of 25 years in service, stated Vaishnaw.
Below the household pension scheme, the pensioner’s household will get 60 per cent of the pension obtained at their time of dying.
The minimal pension scheme assures Rs 10,000 per 30 days after retirement for for presidency staff after minimal 10 years of service.
In keeping with the present pension scheme, the workers contribute 10 per cent whereas the central authorities contributes 14 per cent, which might be elevated to 18 per cent with the UPS.
First Printed: Aug 24 2024 | 7:58 PM IST
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