The Central Government has issued a notification of Integrated Pension Scheme (UPS) to provide guarantee pension to central employees. UPS rules will be applicable from 1 April 2025. After its implementation, the employees who will join the government service will get the benefit of the Integrated Pension Scheme, while on 1 April 2025, the old employees living in the service will also be able to opt for this new pension scheme.
About 23 lakh central employees will get the benefit of Unified Pension Scheme (UPS). The Central Government has also issued its rules and laws. Under this, if an employee wants to get the benefit of pension under UPS, then he will have to choose the UPS option on the portal and fill the claim form. Under this scheme, employees will contribute 10 percent to their pension. At the same time, the contribution of the government will be 18.5 percent of the total amount of basic salary and dearness allowance. The new pension scheme guarantees minimum pension to central employees. However, there are some conditions for this. Let’s know how many years the central employees will have to work to get pension in UPS.
So much pension will be available on 25 years of service
Let us tell you that under the rules fixed under the Integrated Pension Scheme, the employee will have to work for 25 years. Employees who have completed 25 years of service will get a pension equal to 50% of the average basic salary for 12 months just before retirement. Suppose an employee’s average monthly salary of 12 months is 60 thousand rupees, then such an employee will get a pension of 30 thousand rupees after retirement.
You have to do at least so many years of work
The new Pension Scheme Integrated Pension Scheme (UPS) guarantees minimum pension to central employees. If an employee has completed at least 10 years of service, then he will be given a minimum pension of Rs 10,000 every month on retirement. In simple words, the employee will have to work for at least 10 years to get a minimum pension under UPS. Only then will he be able to avail pension.
