The Centre faced much criticism when it adopted the National Pension Scheme and gradually gave up on the Old Pension Scheme. On one hand, government employees were dissatisfied with the change in policies over National Pension Scheme (NPS), several states and opposition parties were insisting on returning to OPS to woo the voters. In a … Read more
The Unified Pension Scheme (UPS), introduced by the NDA government as an alternative to the current National Pension System (NPS), has sparked significant speculation concerning its reach and pension fund. Subscribers of the NPS under the government who transition to the UPS or new entrants stand to benefit from its enhanced security in the form … Read more
Since the announcement of the Unified Pension Scheme (UPS) by the Centre, private sector employees have been pressing for an enhanced monthly pension under the Employee’s Pension Scheme (EPS). Under UPS, government employees are entitled to receive a monthly pension upon retirement, amounting to 50% of their last-drawn basic pay. The minimum pension guaranteed is … Read more
There are five major components of the UPS benefits, starting with the assurance that government employees will receive half of their average basic pay drawn over their final 12 months in service prior to retirement, as a monthly pension for life. | Photo Credit: Getty Images/iStockphoto The story so far: Last weekend, the Union Cabinet … Read more
The newest pension scheme for the government employees — Unified Pension Scheme’s primary objective is to consolidate various pension systems existing in the country into a unified framework. The initiative serves as a clear demonstration of PM Narendra Modi’s steadfast dedication to driving reform efforts that promote sustainable fiscal practices and safeguard the welfare of … Read more
Former Jharkhand CM Champai Soren meets Union Home Minister Amit Shah on August 26, 2024. Photo: X/@himantabiswa Champai Soren to join BJP on Aug 30: Himanta “Former Chief Minister of Jharkhand and distinguished Adivasi leader of our country, Champai Soren ji met Union home minister Amit Shah ji… He will officially join BJP on August … Read more
With the announcement of the Unified Pension Scheme (UPS), many are curious about how it will affect their pension, especially if they were to retire today. Here’s a breakdown of the potential pension you could receive under UPS if your basic salary is Rs 60,000, Rs 70,000, or Rs 80,000. But before diving into the … Read more
Government employees who choose the Centre’s Unified Pension Scheme (UPS) introduced on August 24 can expect a significant increase in their pension payments. The government’s contribution under the UPS will rise to 18.5% from the current 14%, leading to a projected 19% increase in pensions for employees with a starting salary of Rs 50,000, according … Read more
कांग्रेस अध्यक्ष मल्लिकार्जुन खड़गे (Mallikarjun Kharge) ने रविवार को यूनिफाइड पेंशन स्कीम (UPS) के ऐलान के बाद केंद्र पर निशाना साधा है. खड़गे ने कटाक्ष करते हुए कहा कि “यूपीएस में यू का मतलब मोदी सरकार का यू-टर्न है.” खड़गे ने सोशल मीडिया पोस्ट में कहा, ‘लोकसभा चुनाव के बाद विपक्ष के फिर से उभरने … Read more
Unified Pension System: The Narendra Modi-led government has approved a new pension scheme, the Unified Pension Scheme, which will come into effect in the next fiscal year, i.e. FY2025-26. After facing much criticism for removing the Old Pension Scheme, the NDA government has introduced the Unified Pension Scheme, which amalgamates the advantages of the previous … Read more