Unified Pension Scheme: Who Can Get Benefits From UPS? Know Criteria and Other Important Details

Unified Pension Scheme: The central government has issued a major statement for government employees, approving the Unified Pension Scheme (UPS). This system provides government employees with a guaranteed pension upon retirement. There has long been a call for reforms to the Central Government employees’ New Pension Scheme (NPS). 

Benefits of UPS

Under this scheme, government employees will receive a guaranteed pension upon retirement. This sum will be equal to 50% of the average basic wage in the year preceding retirement. Employees will be entitled to this pension after 25 years of service. On the other hand, if a retiree dies, his family will receive 60% of his pension up to that point. Additionally, if the employee’s service is less than 25 years but greater than 10 years, the amount of pension will be determined using proportional allocation. No matter how many years the person has worked, the minimum amount of his pension will not be less than Rs 10,000.