Unified Pension Scheme Launches for National Pension System Employees
Saturday, 24 August 2024, 08:08
Unified Pension Scheme Overview
The Unified Pension Scheme has been officially approved by the Union Cabinet, aiming to enhance the financial security of NPS employees. This scheme ensures that qualified government employees receive an assured pension amounting to 50% of their salary.
Key Details of the Scheme
- Effective Date: April 1, 2025
- Beneficiaries: 23 lakh government employees
- Pension Calculation: Assured pension of 50% of salaries
This initiative, championed by Ashwini Vaishnaw and TV Somanathan, marks a significant step towards ensuring financial security for government employees as they plan for their retirement.
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.