The disbursement of pension to retired government employees is regulated by the relevant schemes established by both the central and state governments. Pension payments are facilitated through authorized banks, who are required to adhere to guidelines outlined in the Reserve Bank of India’s “Master Circular – Disbursement of Government Pension by Agency Banks”. Recently, the … 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
DA increase: The recent increase in dearness allowance (DA) for current central government employees and dearness relief (DR) for pensioners by 3% for the period of July-December 2024 has been implemented by the Central Government. The revised DA has been effective since July 1, 2024, bringing the allowance to 53% of the basic pay. This has … Read more
DA hike: The Centre is anticipated to make an announcement regarding the second hike in Dearness Allowance (DA) and Dearness Relief (DR) for employees and pensioners from July 2024 in September. It is estimated that the government led by Prime Minister Narendra Modi might sanction a 3% increase in DA and DR during this phase. … Read more