Unified Pension Scheme: PM Modi Hails Decision, Says It Ensures Dignity, Financial Security Of Govt Employees
PM Modi said the Unified Pension Scheme aligns with his government's commitment to the well-being and secure future of government employees, and stressed that the move ensures dignity and financial security for them.
Unified Pension Scheme: Prime Minister Narendra Modi Saturday hailed the Union Cabinet’s decision to approve the Unified Pension Scheme which assures 5o percent of earnings as pension for 23 lakh govt personnel who joined govt service after April 1, 2004.
In a post on X, Modi cited the Unified Pension Scheme aligns with his govt’s commitment to the correctly-being and good future of presidency personnel, and wired that the pass ensures dignity and fiscal protection disguise for them.
“We are pleased with the exertions of all govt personnel who contribute radically to kingdom wide development. The Unified Pension Scheme ensures dignity and fiscal protection disguise for govt personnel, aligning with our commitment to their correctly-being and an excellent future,” the Prime Minister wrote.
Modi’s remarks came after the Union Cabinet approved an certain 50 percent of earnings as pension for 23 lakh govt personnel who joined service below the U . s . wide Pension Computing device (NPS).
The U . s . wide Pension Computing device is appropriate for govt personnel joining the service after April 1, 2004. It transformed into in line with the premise of contribution in of outlined gain appropriate for personnel ahead of the NPS.
Asserting Cabinet judgements, Union Methods and Broadcasting Minister Ashwini Vaishnaw cited that below the Unified Pension Scheme (UPS), govt personnel will now be eligible to get 50 per cent of the first commonplace pay drawn over most likely the most desirable 365 days beforehand than the superannuation as pension.
For this full pension or 50 per cent of pay because the pension, he cited, the eligibility service size will relatively almost always be 25 years.
Then again, he cited, it'll be proportionate for a lesser service period to date not cut back than 10 years of service.
NPS subscribers can now judge the Unified Pension Scheme (UPS), which gives you certain pension appropriate from the start out of appropriate here fiscal year.
(With PTI inputs)
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