Central Government announced Integrated Pension Scheme

Central Government announced Integrated Pension Scheme

Daily Current Affairs / Central Government announced Integrated Pension Scheme

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Category : National Published on: August 27 2024

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On the new and old pension scheme, the Central Government announced the Integrated Pension Scheme (UPS).
Under what conditions will central employees get financial benefits under the Integrated Pension Scheme?
In this, like the old pension scheme (OPS), government employees will get 50 percent of the average basic salary after retirement.
This scheme will come into effect from 1 April 2025.
Under the UPS scheme, employees will get 50% of the average basic pay of the 12 months preceding retirement as pension, subject to the requirement of 25 years of service.
Under UPS, assured pension, family pension, and minimum pension will get indexation based on Dearness Relief (DR), whereby the pension amount will be adjusted as per the inflation rate.

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