Unified Pension Scheme in Maharashtra Sets Trend for India News Today
Maharashtra Becomes the First State to Implement Unified Pension Scheme
NEW DELHI: Following a strong demand from central government employees' organizations, Maharashtra has taken a significant step by becoming the first state to adopt the Unified Pension Scheme (UPS). This initiative allows state employees to switch to UPS, amid expectations that more states will implement similar schemes in light of the central government's approval.
What Does the Unified Pension Scheme Offer?
- 50% of an employee's average salary over the last 12 months as pension
- Adjustments for inflation and other benefits
- A potential reach of up to 90 lakh employees across various states
Shiv Gopal Mishra from the All India Railwaymen’s Federation noted that while the Old Pension Scheme (OPS) is preferred, the UPS effectively covers most provisions of the OPS, making it a viable alternative for employees who joined after January 2004.
Expectations for Other States
The successful implementation of UPS in Maharashtra may lead to similar actions from other states, particularly those governed by the NDA. Political representatives are urging these states to prioritize welfare measures for government employees.
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.