New Pension Scheme in India: Understanding the Unified Pension Scheme
Saturday, 24 August 2024, 08:09
Key Features of the New Pension Scheme
Guaranteed Pension: Employees will receive 50% of their average basic pay over the last 12 months prior to retirement.
Family Pension: In the event of the employee’s death, their family will receive 60% of the pension the employee was entitled to.
Minimum Pension: A minimum pension of Rs 10,000 per month is assured upon retirement after a minimum of 10 years of service.
Additional Benefits and Flexibility
- Enhanced security for employees and their families.
- Support for those with varying lengths of service through proportional adjustments.
The Unified Pension Scheme represents a significant step toward ensuring that government employees retire with financial peace of mind.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.