Unified Pension Scheme Gains Momentum as Central Govt Employees Call for State Adoption | Delhi News

Unified Pension Scheme Overview

In a significant development, central govt employees are appealing to state leaders to implement the Unified Pension Scheme (UPS) in line with the government's efforts. With an estimated 23 lakh central govt employees set to gain from this initiative, the numbers could swell to 90 lakh across states that choose to join the scheme.

Political Consensus Needed

Representatives highlight that the political climate must not hinder the rollout of UPS. They argue that while the Old Pension Scheme (OPS) has benefits, UPS is a realistic compromise. Shiv Gopal Mishra, of the All India Railwaymen’s Federation, noted the importance of maximizing employee benefits while ensuring government feasibility.

Implementation Strategies

• Cabinet secretary-designate T V Somanathan has stated that the existing UPS framework can be effectively adapted by state governments.
• As part of ongoing negotiations, central employees are advocating for a guaranteed pension after 20 years of service, proposing adjustments to the current 25-year requirement.
• A significant lump sum amount calculated from the last six months' pay is also part of the demands.

Expected Benefits

Sources estimate that over eight lakh railway employees who joined in the last two decades will benefit under the new UPS framework, which assures them greater financial security in retirement.

As political discussions continue, employee representatives remind parties that their focus should center on employee welfare rather than partisan politics.