❖ The Union Cabinet approved the Unified Pension Scheme (UPS) for government employees.

❖ To qualify for this, employees must have a minimum of 25 years of service.

❖ The scheme will benefit 23 lakh central government employees.

❖ Retirees will now receive 50 percent of their average basic pay over the last 12 months before retirement as a pension for a minimum qualifying service of 25 years.

❖ The Government is increasing its contribution from 14 percent to 18.5 percent.

❖ Employee contribution will not increase.

❖ In case of a pensioner’s unfortunate demise, their family will receive 60% of the pension the employee was receiving.

❖ Rs 10,000 per month as pension, on superannuation after minimum 10 years of service, will be given.

❖ Lump-Sum Payment will be given at superannuation in addition to gratuity.