Finance Minister Thangam Thennarasu. File | Photo Credit: The Hindu Tamil Nadu Finance Minister Thangam Thennarasu on Saturday (January 11, 2025) said the State government would appoint a committee to study the Unified Pension Scheme (UPS) announced by the Centre in 2024. Responding to DMK member C.V.M.P. Ezhilarasan in the Assembly, the Minister said though…
With the UPS (Unified Pension System) soon to become a reality in the next financial year, several government employees may decide to opt out of National Pension System (NPS) for UPS. It is noteworthy that the UPS will for the time being be open only for the central government employees, which means the salaried employees…
As you are aware that the Union Government is set to roll out the Unified Pension System (UPS) from April 1, 2025 to give fixed, inflation-linked pensions to subscribers. As of now, the scheme is meant only for 23 lakh central government employees and the state government employees are permitted to opt for them. Wealth…
If you say that instead of contributing 14% of basic pay towards pension, the government will now contribute 18.5%, then it looks like a minor tweak, with some generosity thrown in. But that is not the whole story. It is not just the government’s contribution that has gone up steadily from 10% to 14% to…
Over 2.3 million central government employees are expected to be delighted by the recently announced Unified Pension Scheme (UPS), which, for 25 years of service or more, offers an assured pension of half an employee’s average basic pay over the last 12 months before retirement. “The UPS is an attempt to improve the existing National…
There are five major components of the UPS benefits, starting with the assurance that government employees will receive half of their average basic pay drawn over their final 12 months in service prior to retirement, as a monthly pension for life. | Photo Credit: Getty Images/iStockphoto The story so far: Last weekend, the Union Cabinet…
New Delhi: There will be no rollback of the new Unified Pension Scheme (UPS) for central government employees, a senior government official said on Tuesday. Trade unions have been demanding the rollback of employee contributions to the UPS, which combines benefits of the Old Pension Scheme (OPS) and National Pension Scheme (NPS), providing assured pensions…
The government’s unveiling of its Unified Pension Scheme (UPS) looks set to relegate the National Pension System (NPS) to history. Truth be told, this market-linked scheme launched in 2004 didn’t get enough time to prove its ability to offer retirees a respectable payout. Two decades of investments in market instruments failed to impress people, apparently,…
Former Jharkhand CM Champai Soren meets Union Home Minister Amit Shah on August 26, 2024. Photo: X/@himantabiswa Champai Soren to join BJP on Aug 30: Himanta “Former Chief Minister of Jharkhand and distinguished Adivasi leader of our country, Champai Soren ji met Union home minister Amit Shah ji… He will officially join BJP on August…
In a significant decision, the Prime Minister Modi-led government, on Saturday, August 24, announced the Unified Pension Scheme (UPS) for central government employees. The new scheme, which kicks in from the next fiscal year, assures a pension of 50 percent of the basic salary for those who joined the service after January 1, 2004. U-turn…
