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Re: Unified Pension Scheme by PM Narendra Modi - Features & Benefits
Posted: Sun Aug 25, 2024 3:52 am
by arjun
- The Unified Pension Scheme (UPS) guarantees family security.
- In the event of the employee’s demise, 60% of their pension is assured to their dependents.
Re: Unified Pension Scheme by PM Narendra Modi - Features & Benefits
Posted: Sun Aug 25, 2024 3:53 am
by arjun
- The Unified Pension Scheme (UPS) guarantees a minimum pension of ₹10,000 per month for employees with at least 10 years of service.
- This guarantee acts as a crucial safety net, protecting retirees from inflation and financial uncertainties.
- It ensures a stable and secure post-retirement life.
Re: Unified Pension Scheme by PM Narendra Modi - Features & Benefits
Posted: Sun Aug 25, 2024 3:55 am
by arjun
- The Unified Pension Scheme (UPS) for government employees includes an inflation protection feature.
- It provides Dearness Relief based on the All India Consumer Price Index for Industrial Workers (AICPI-IW).
- This inflation indexation applies to:
- Assured pension
- Assured family pension
- Assured minimum pension
Re: Unified Pension Scheme by PM Narendra Modi - Features & Benefits
Posted: Sun Aug 25, 2024 3:56 am
by arjun
- In addition to gratuity, retirees receive a lump sum payment.
- The lump sum is calculated at 1/10th of monthly emoluments for every completed six months of service.
- This benefit is provided in addition to the assured pension and does not reduce it.