The Ministry of Finance has announced the operationalization of the Unified Pension Scheme (UPS), which will apply to Central Government employees covered under the National Pension System (NPS) and who opt for this scheme within NPS. The scheme will be effective from April 1, 2025, and the Pension Fund Regulatory and Development Authority (PFRDA) may issue regulations for its implementation. Key Features of the UPS: Assured Pension: Employees will receive 50% of their average basic pay over the last 12 months before retirement, provided they have completed a minimum of 25 years of qualifying service. The pension will be proportionate for those with less than 25 years of service, with a minimum of 10 years. Assured Family Pension: In the event of the employee’s demise, the family will receive 60% of the employee's pension. Assured Minimum Pension: Employees will receive a minimum pension of ₹10,000 per month upon retirement, after completing at least 10 years of service. Inflation Indexation: The assured pension, family pension, and minimum pension will be subject to inflation adjustments, based on the All India Consumer Price Index for Industrial Workers (AICPI-IW), similar to dearness relief for service employees. Lump Sum Payment: In addition to gratuity, employees will receive a lump sum equivalent to 1/10th of their monthly emoluments (pay + DA) for every completed six months of service, upon superannuation.

The Ministry of Finance has announced the operationalization of the Unified Pension Scheme (UPS), which will apply to Central Government employees covered under the National Pension System (NPS) and who opt for this scheme within NPS. The scheme will be effective from April 1, 2025, and the Pension Fund Regulatory and Development Authority (PFRDA) may issue regulations for its implementation.

Key Features of the UPS:

• Assured Pension: Employees will receive 50% of their average basic pay over the last 12 months before retirement, provided they have completed a minimum of 25 years of qualifying service. The pension will be proportionate for those with less than 25 years of service, with a minimum of 10 years.

• Assured Family Pension: In the event of the employee’s demise, the family will receive 60% of the employee's pension.

• Assured Minimum Pension: Employees will receive a minimum pension of ₹10,000 per month upon retirement, after completing at least 10 years of service.

• Inflation Indexation: The assured pension, family pension, and minimum pension will be subject to inflation adjustments, based on the All India Consumer Price Index for Industrial Workers (AICPI-IW), similar to dearness relief for service employees.

• Lump Sum Payment: In addition to gratuity, employees will receive a lump sum equivalent to 1/10th of their monthly emoluments (pay + DA) for every completed six months of service, upon superannuation.

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