Employees who have served for a minimum of 10 years will get a provision of a minimum monthly pension of Rs 10,000 after retirement. If a pensioner dies, his family will be given 60% of the last pension as family pension.
Old Pension Scheme: The central government has given a big relief to the employees coming under the Unified Pension Scheme (UPS). Now they will also get the benefit of retirement and death gratuity in the same way as is available under the old pension system (OPS). This information was given by Union Minister Dr. Jitendra Singh on Wednesday. This was being demanded by the employees for a long time.
The government’s decision will provide relief to lakhs of employees and will remove pension related inequality. Union Minister of State for Personnel Dr. Jitendra Singh said in this context that the new provision meets the long-standing demand of the employees and reflects the commitment of the central government to ensure social security for employees of all categories under the National Pension System (NPS).
The Union Minister said that this benefit under UPS will be given in accordance with the provisions of the Central Civil Services (Payment of Gratuity under NPS) Rules, 2021. An order was issued in this regard on Wednesday.
The Finance Ministry had said in a notification issued on January 24 that UPS will be introduced as an option under NPS for employees recruited in the Central Civil Services from April 1, 2025.
The order issued by the Department of Pension and Pensioners Welfare under the Ministry of Personnel, Public Grievances and Pensions clarifies that employees covered under UPS will get the benefit of retirement and death gratuity under the Central Civil Service (Payment of Gratuity under National Pension System) Rules, 2021.
This change will also encourage employees who are currently under the National Pension Scheme (NPS) and want to opt for UPS. The UPS scheme provides that employees who have completed at least 25 years of service will be assured of 50% of their average basic salary for the first 12 months of their retirement as pension.
Apart from this, employees who have served for a minimum of 10 years will get a provision of a minimum monthly pension of Rs 10,000 after retirement. If a pensioner dies, his family will be given 60% of the last pension as family pension.
