Sir
The Central Government has
announced Unified Pension
Scheme (UPS) for its employees with effect from 1.4.2025.
The UPS has immense benefits for the employees. There’s
an assured pension amount for
the employees unlike the New
Pension Scheme (NPS).There’s
no need for employees to contribute towards pension. The
pension amount under UPS
will increase twice every year
when the Dearness Allowance
(DA) is sanctioned to the
employees/pensioners. The
pension amount will also
increase when the pay commission revises the pay of the
employees/pensioners once in
ten years. A minimum of Rs
10000 is guaranteed under the
UPS for employees who have
put in a minimum of ten years
in government service. Family
pension (60% of the pension)
is also guaranteed under the
UPS. A lumpsum superannuation payout in addition to gratuity benefits at the time of
retirement has been sanctioned under the UPS. This
scheme is more like the Old
Pension Scheme (OPS). Some
states like Rajasthan, Punjab,
Jharkhand and Chhattisgarh
have reintroduced the OPS for
its employees replacing
the NPS.
It’s time the states like Tamil
Nadu also adopted the assured
pension scheme to its employees as demanded by the
employees’ unions.
S.Sankaranarayanan