GOVERNMENT COMPELLED TO MAKE SOME PROGRESS IN THE NPS DUE TO MOUNTING PRESSURE EXERTED BY EMPLOYEES OF CENTRAL, STATE AND PSUs, CENTRAL TRADE UNIONS AND ALSO BY PENSIONERS THROUGH RELENTLESS STRUGGLES AND ALSO DUE TO THE POLITICAL SETBACK OF BJP IN THE LAST PARLIAMENT ELECTION IN WHICH BJP COULD NOT GET MAJORITY

The decision of the Union Cabinet to introduce a Unified Pension Scheme from 01-04-2025 was communicated to the JCM Staff Side leaders in the meeting held on 24-08-2024, participated by the hon’ble Prime Minister, Finance Minister and the designated Cabinet Secretary.

The salient features of the UPS are;

1. It is contributory and 10% pay + DA will be recovered from the salary. The government contribution is slightly increased to 18.5% from the 14% in NPS

.2. Guaranteed pension of 50% of the average of the 12 months emoluments for those completed 25 years service. Pro-rata pension to those with less than 25 to 10 years service. In the OPS full pension for a minimum 10 years service which is calculated 50% of last pay drawn or average of last 10 months which ever is beneficial to the employee.

3. Family Pension will be 60% of the pensio

4. Dearness Relief will be there as per the consumer price index for industrial workers

5. Apart from Gratuity additional benefit of 1/10 th of the salary for every completed six months of service Remember that 10% of the salary is recovered.

6. There will be option for the existing NPS pensioners to switch over to UPS.

No additional pension at 80,85,90,95 and 100.No mention about second level pension.Nothing is mentioned about those retired before 01-04-2025.No mention about the periodical pension revision.

So in a nutshell it is just some progress from the NPS. We have to wait for the detailed order to know more about the new scheme.NO DOUBT, WE HAVE TO CONTINUE THE STRUGGLE UNTIL THE OPS IS FULLY BROUGHT BACK.