The Centre is set to introduce the Unified Pension Scheme (UPS) on April 1, providing a fixed pension security to central government employees. Designed within the framework of the National Pension System (NPS), UPS aims to give a guaranteed pension, particularly beneficial for those employees seeking a stable post-retirement income. Central government employees who are … Read more
The Pension Fund Regulatory and Development Authority (PFRDA) has released regulations for the implementation of the Unified Pension Scheme (UPS) within the National Pension System (NPS). These updated guidelines, which will take effect on April 1, 2025, outline the qualifications and procedures for central government employees to enroll in UPS. Eligibility for UPS The regulations … Read more
This week, the Union Cabinet may take a final call on the Dearness Allowance (DA) hike this week. If approved, the new DA will come into effect retrospectively from January 2025, which means the employees will get an increase in their salary for March and also receive two months’ arrears. According to recent news reports, … Read more
The Central government may increase Dearness Allowance (DA) and Dearness Relief (DR) for its employees and pensioners next week before Holi. This increment will benefit more than 1.2 crore central government employees and pensioners. The government conducts reviews of the dearness allowance twice a year, in January and July. The DA increase, typically finalized in … Read more
The 8th Pay Commission is expected to commence its work in April of the financial year 2025-26. According to Expenditure Secretary Manoj Govil, the Union cabinet will need to approve the terms of reference (ToR) for the Commission. Input will be sought from the Ministry of Department of Personnel & Training and the Ministry of … Read more
With barely a week left for Budget 2025, the finance ministry has officially introduced the Unified Pension Scheme (UPS) as an alternative for central government employees enrolled in the National Pension System (NPS). The government has specified that the Unified Pension Scheme (UPS) will now be available for Central Government employees who are currently participating … Read more
The Centre will be implementing the Unified Pension Scheme as an alternative within the National Pension System for Central Government employees already enrolled in the system. The Centre introduced the Unified Pension Scheme (UPS) for central government employees last year, combining elements from both the Old Pension Scheme (OPS) and the National Pension System (NPS). … Read more
DA revision in 2025: The upcoming dearness allowance (DA) revision for central government employees is scheduled for January 2025. The government plans to wait for the final All-India Consumer Price Index (AICPIN) numbers in December before making the official announcement, which may delay the revision process, as per news report. The Dearness Allowance (DA) is … Read more
8th Pay Commission: There has been significant discussion surrounding the potential implementation of the 8th Pay Commission following the 7th Pay Commission. Minister of State in the Ministry of Finance, Pankaj Chaudhary, recently informed the Rajya Sabha that the Centre currently has no plans to establish the 8th Pay Commission in the near future. Despite this … Read more
DA hike: The Dearness Allowance (DA) for central government employees currently stands at 53% of the basic salary following the July 2024 revision. According to the rule, when the DA exceeds the 50% mark of the basic pay, specific allowances are automatically adjusted. This regulation ensures that employees’ additional expenses are taken into account amidst … Read more