The government has introduced the Unified Pension Scheme (UPS), designed to benefit 23 lakh central government employees. Union Information and Broadcasting Minister Ashwini Vaishnaw announced that the new scheme will take effect from April 1, 2025. Retirees will receive 50% of their average basic pay over the last 12 months before retirement as a pension. Ministry of finance has released an official brief regarding the UPS. Download from link below.
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