Brief by Shorts91NewsDesk / 10:04am on 26 Feb 2025,Wednesday India
The Indian government has approved the Unified Pension Scheme (UPS) to provide assured pensions to central government employees. Effective April 1, 2025, the UPS guarantees 50% of the average basic salary from the last 12 months before retirement for employees with a minimum of 25 years of service. Employees with at least 10 years of service are eligible for a minimum pension of ₹10,000 per month. The government's contribution to the pension fund will increase from 14% to 18.5%. This initiative aims to address concerns over the existing National Pension Scheme (NPS), which links payouts to market returns.
