This scheme will be implemented from April 1, government employees get pension guarantee

New Delhi: Last year, Prime Minister Narendra Modi’s government announced a new Unified Pension Scheme for lakhs of Central Government Employees of the country. PFRDA has issued a notification for this on Thursday. Now it will be implemented across the country from the coming financial year i.e. April 1, 2025. The purpose of this pension scheme is to provide fixed pension security to government employees. This scheme has been designed for central employees under the National Pension Scheme.

Under this scheme, employees who complete 25 years of service get a pension guarantee of up to 50 percent on the average of their last 12 months’ salary. Not only this, if an employee has completed more than 10 years of his job, then he will also be given a pension of at least Rs 10 thousand every month. Apart from this, if an employee dies, then his family members will also be given 60 percent of the last pension amount as pension.

The government had launched the National Pension Scheme by closing the Old Pension Scheme in the year 2004. Earlier it was only for government employees, but in the year 2009 it was implemented for all citizens. Under this, now the Unified Pension Scheme has been started. A fixed amount is deducted from the salary of the employees in UPS and it is invested in market based investment schemes.

At the time of retirement, 60 percent of the amount is given to them in lump sum. While it is necessary to keep 40 percent invested, which they get every month in the form of pension. At the same time, there is no guarantee of any fixed amount in the form of pension on Old Pension Scheme and National Pension Scheme. The pension given under these schemes is based on the performance of the stock market and other investments.