New Delhi: The BJP-led central government on Saturday launched the Unified Pension Scheme (UPS). Central government employees will exercise the right to decide whether to stay in the National Pension Scheme or join the Unified Pension Scheme. Likewise, the state governments can also decide to adopt this new module of UPS.
- Assured Pension: 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 pension of the employee immediately before her/his demise
- Assured Minimum Pension: @ 10000 per month on superannuation after minimum 10 years of service
