The Union Cabinet, led by Prime Minister Narendra Modi, has approved the Unified Pension Scheme (UPS), marking a historic advancement in the welfare of central government employees. This groundbreaking initiative is poised to enhance pension benefits for 23 lakh central government employees, with the potential to extend coverage to around 90 lakh beneficiaries if state governments choose to participate.

The Chairman/Chief Executive Councillor, LAHDC Leh, Advocate Tashi Gyalson expressed heartfelt gratitude to the Union Cabinet and Prime Minister Narendra Modi for their unwavering commitment in bringing this significant initiative to life.

Information and Broadcasting Minister Ashwini Vaishnaw outlined the key features of the new scheme, which will come into effect from April 1, 2025.

Under the UPS, employees with a minimum of 25 years of service will receive a pension amounting to 50% of the average basic pay drawn over the last 12 months prior to retirement. For those with 10-25 years of service, the pension will be proportionate to the years served.

Additionally, the scheme guarantees a family pension equivalent to 60% of the employee's pension immediately before their demise.

The UPS also ensures a minimum pension of Rs 10,000 per month upon superannuation, provided the employee has completed at least 10 years of service.

Further, the scheme includes provisions for inflation indexation and a lump-sum payment upon retirement, underscoring the government’s commitment to the welfare of its employees.

This decision by the Cabinet represents a significant stride toward improving the financial security and quality of life for government employees and their families. The government extends its gratitude to Prime Minister Narendra Modi and all Cabinet members for their dedication and support in realizing this crucial initiative.

The Unified Pension Scheme reflects the government's continuous efforts to modernize and enhance benefits for its workforce, ensuring a more secure and dignified retirement for its employees.