Unified Pension Scheme Aligns with Old Pension Benefits for Government Employees
The Unified Pension Scheme (UPS) now grants central government employees retirement and death gratuity benefits similar to the Old Pension Scheme, enhancing social security. Minister Jitendra Singh announced the decision to address employee demands, aiming for parity and employee security. Employee union leaders praised the move as historic.
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- India
In a significant development for central government employees, Union Minister Jitendra Singh announced enhancements to the Unified Pension Scheme (UPS), aligning it with the benefits of the Old Pension Scheme (OPS). This move grants employees entitlement to retirement and death gratuity benefits, addressing a longstanding demand for parity in retirement benefits.
Minister Singh emphasized the government's commitment to social security for all categories of employees under the National Pension System (NPS). The decision, hailed by employee unions, allows workers to opt for the OPS benefits in cases of death or disability during service, marking a progressive step in social welfare.
The Department of Pension and Pensioners' Welfare issued orders enabling this option, with union leaders, such as Manjeet Singh Patel, welcoming the move. Patel noted it resolves previous misconceptions and brings justice to affected employees, paving the way for a possible increase in UPS participation.
(With inputs from agencies.)
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