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The employees will have the choice to continue with the National Pension Scheme or UPS. | Source: X (@NarendraModi)
Prime Minister Narendra Modi on Saturday met with a delegation from staff side of the Joint Consultative Machinery for Central Government employees.
The meeting coincided with the BJP-led central government’s approval of the Unified Pension Scheme (UPS), which includes Assured Pension and Assured Family Pension.
National Council (Joint Consultative Machinery) Secretary (Staff Side) Shiv Gopal Mishra, while speaking about their meeting with Prime Minister Narendra Modi, said that after days of protest, PM Modi acknowledged the concerns of the National Council and called a meeting with the Standing Committee.
“Overall, after many days of protest, our Prime Minister has acknowledged our concerns and today called a meeting with our National Council Standing Committee… He also assured that in the future, whenever there is a need, the entire government will be available for its employees,” he said.
“Today… for the first time in India, a Prime Minister has invited the National Council Joint Consultative Machinery Staff Side for a discussion. This is a very proud moment for the 3.2 million central government employees we represent,” he added.
“In the future, those who retire or have already retired will receive 50 per cent of their salary, and Dearness Allowance will also be provided. The family pension will also see a 60 percent Dearness Allowance. Additionally, there is a proposal to increase the minimum pension to Rs 10,000,” he said.
Earlier today, briefing the media after a meeting of the union cabinet, Information and Broadcasting Minister Ashwini Vaishnaw on Saturday said about 23 lakh employees of the central government would benefit from the Unified Pension Scheme (UPS).
The cabinet meeting was chaired by Prime Minister Narendra Modi.
The employees will have the choice to continue with the National Pension Scheme or UPS.
“Today the Union Cabinet has approved Unified Pension Scheme (UPS) for government employees providing for the assured pension…50 per cent assured pension is the first pillar of the scheme…second pillar will be assured family pension…About 23 lakh employees of the central government would benefit from the Unified Pension Scheme (UPS)…There will be an option for the employees to opt between NPS and UPS,” he said.
Referring to Assured Pension, he said it will be 50 per cent of the average basic pay drawn over the last 12 months prior to superannuation for a minimum qualifying service of 25 years.
It will be proportionate for a shorter service period upto a minimum of 10 years of service.
The Assured Family Pension would be calculated at the rate of 60 per cent of pension of the employee immediately before her or his demise.
Assured Minimum Pension will be Rs 10,000 per month on superannuation after minimum 10 years of service.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Aug 24 2024 | 11:27 PM IS
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