Brief by Shorts91 Newsdesk / 03:44pm on 24 Aug 2024,Saturday India
The Indian central government has approved the Unified Pension Scheme (UPS), set to launch on April 1, 2025. This scheme will offer assured pension, family pension, and a minimum pension to about 23 lakh government employees. Union Minister Ashwini Vaishnaw announced that employees can choose between the UPS and the National Pension Scheme (NPS). The scheme will cost Rs 6250 crore in its first year and will apply to those retired under the NPS from 2004. Prime Minister Narendra Modi emphasized the scheme’s role in ensuring financial security and dignity for employees.
