UNIFIED PENSION SCHEME

Central govt employees will get notional increment if they are retiring a day before annual pay hike

Central government employees retiring a day before their annual pay hike will now be eligible for a notional increment to calculate their pension, following a Supreme Court order. This decision, effective from May 1, 2023, ensures that employees who retired on June 30 or December 31, having met service requirements, receive the increment solely for pension calculation.

Unified Pension Scheme for central government employees: How much will you pay from your salary for monthly UPS contribution?

Ministry of Finance studying global pension funds to manage UPS corpus

The finance ministry is developing investment rules for the pool corpus under the Unified Pension Scheme (UPS) to ensure long-term viability of the scheme and assured pension benefits for central government employees. Study of global pension management practices and EPFO experiences are being undertaken to finalize a suitable investment model.

From New income tax slabs to UPS: 8 key financial changes from April 1, 2025

Starting April 1, 2025, new rules will change income tax slabs, increase TDS thresholds, and implement the Unified Pension Scheme (UPS). Changes also include maintaining small savings scheme rates, modifications to credit card benefits, and ending the Mahila Samman Savings Certificate program.

Unified Pension Scheme may be replicated to other stakeholders of NPS: DFS Secy

Financial Services Secretary M Nagaraju hopes the Unified Pension Scheme (UPS), ensuring 50% of the average basic pay drawn over the last 12 months, will be replicated for other stakeholders under the New Pension System (NPS). This scheme, recently introduced for central government employees, aims to enhance pension coverage and address fiscal sustainability.

Pension shake-up for govt employees! NPS subscribers can now migrate to Unified Pension Scheme

NPS subscribers can now switch to the Unified Pension Scheme starting today by visiting the designated online portal. The UPS offers improved flexibility and benefits including an assured pension, assured family pension, and a guaranteed minimum pension. Central government employees have the option to choose between NPS or UPS. The scheme takes effect from April 1, 2025.

Unified Pension Scheme: Who is eligible, who is not eligible to get assured payouts under UPS?

For pension products, common regulatory framework on table

The government plans to create a unified regulatory framework and grievance redressal mechanism for all retirement schemes. This will address India's pension gap and reduce supervisory overlaps. New products will be developed to extend pension coverage, and existing schemes may be merged under one umbrella.

PFRDA notifies UPS regulations

PFRDA has issued regulations for the Unified Pension Scheme under NPS, effective April 1, enabling enrolment for various categories of central government employees and eligible retired members. Enrolment must be completed within three months from April 1, 2025, and the decision is final and irrevocable.

Unified Pension Scheme: PFRDA notifies UPS new rules, applicable from April 1, 2025 ; Check eligibility, contribution, retiral benefits & more

The PFRDA has introduced the Unified Pension Scheme (UPS) for central government employees, effective April 1, 2025. It offers a guaranteed minimum payout of Rs 10,000 per month, subject to employees making a contribution of 10% of their basic pay and Dearness Allowance every month. Read on to know more about the eligibility, enrollments, investment choices, and withdrawal conditions detailed in the new regulations.

Uttarakhand Cabinet approves implementation of Unified Pension Scheme

The Uttarakhand Cabinet, led by Chief Minister Pushkar Singh Dhami, approved the Unified Pension Scheme, set to be operational from April 1, 2025. The new Excise Policy 2025 was also endorsed, aiming to regulate liquor sales and close licenses near religious places. Additionally, financial aid will be provided to 45 writers this year to support literature preservation.

How to calculate lump sum under Unified Pension Scheme: Check formula, other details here

The Unified Pension Scheme (UPS) for central government employees, commencing from April 1, 2025, ensures assured pensions, family pensions, and lump sum payments based on basic pay and Dearness Allowance.

Judicial officers' pension: Unified pension scheme notified, Centre tells SC

The Centre informed the Supreme Court about the newly notified Unified Pension Scheme, which might address the concerns of judicial officers. The scheme guarantees an assured pension for Central government employees, including those from the district judiciary, promising 50 percent of the average basic pay drawn over the last 12 months before retirement.

Govt notifies unified pension scheme for employees, effective April 1, 2025

The central government has introduced the Unified Pension Scheme (UPS), effective from April 1, 2025, as an option under the National Pension System for its employees. Existing and future central government employees can choose to adopt UPS or continue with the current National Pension System.

Centre pushes hard for Unified Pension Scheme

The Centre aims to notify the Unified Pension Scheme (UPS) by October 15, targeting implementation by April 1, 2025. Cabinet Secretary TV Somanathan is spearheading review meetings. The scheme offers government employees a lifelong monthly benefit of 50% of last drawn pay, with potential expansion to 90 lakh beneficiaries if state governments join.

UPS like pension for private sector employees? How NPS plus EPF can get you regular income like Unified Pension Scheme; check calculation

While govt employees got their much awaited demand met as government launched a new pension scheme called Unified Pension Scheme which offers half of the last year average basic salary as starting pension. Private sector employees can do much better and get a higher regular income during their retirement that too only with mandatory EPF and NPS contribution if they can can plan it well.

Unified Pension Scheme: Who qualifies?

Prime Minister Narendra Modi’s government approved the Unified Pension Scheme (UPS) on August 24, benefitting 23 lakh government employees starting April 1, 2025. Employees under the current National Pension Scheme can opt for the UPS, which assures pensions, family pensions, and inflation adjustments. This decision was praised by BJP states, while others demanded a return to the Old Pension Scheme.

Unified Pension Scheme (UPS) for central government employees approved: 5 important things to know

Unified Pension Scheme (UPS): The Union Cabinet, with Prime Minister Narendra Modi as the chair, approved the Unified Pension Scheme (UPS) for central government employees on Saturday. Effective April 1, 2025, this scheme is expected to benefit 23 lakh central government employees.

Unified Pension Scheme promises assured benefits

The Centre introduced the Unified Pension Scheme offering central govt employees a guaranteed pension of half their average basic salary of the last 12 months for 25 years of service. Effective April 1, 2025, the scheme is fully funded and indexed to inflation, aiming to address concerns over the old pension scheme.

Unified Pension Scheme FAQs: Key features, benefits, and all your questions answered

The Centre introduced the Unified Pension Scheme (UPS) for its employees, effective from April 2025. The new scheme offers a fixed pension amount, with employees receiving 50% of their average pay over the preceding 12 months after 25 years of service. Government contributions increase to 18.5%, and pensions are inflation-indexed, with familial provisions upon a pensioner's death.

Trade unions divided over the unified pension scheme

While central trade unions like the All India Trade Union Congress (AITUC) and Centre of Indian Trade Unions (CITU) have outrightly rejected the unified pension scheme (UPS) announced by the government on Saturday and urged government to restore the old pension scheme (OPS), RSS-affiliate Bhartiya Mazdoor Sangh (BMS) said though its is close to the OPS yet difference remain and the trade union will decide on its future course of action after the details of UPS are out.

Centre approves Unified Pension Scheme, providing assured family and minimum pension; here's all you need to know

The Union Cabinet approved the Unified Pension Scheme, which ensures pensions and family benefits for govt employees. The scheme, effective April 1, 2025, allows employees to choose between the National Pension Scheme and the new Unified Pension Scheme. State governments can also opt for this scheme, potentially benefiting 90 lakh people.

Unified Pension Scheme: What it is, its benefits & features, and how it is different from NPS

Unified Pension Scheme: Prime Minister Narendra Modi's Cabinet approved the Unified Pension Scheme for 23 lakh government employees, guaranteeing assured pensions, family pensions, and a minimum pension. This reform answers demands to revise the New Pension Scheme, ensuring financial security after retirement. The plan also covers inflation indexation, dearness relief, and a lump sum payment on retirement.