Current Context : The Union Cabinet approved the Unified Pension Scheme (UPS) which will provide government employees with assured pension post retirement.

• The scheme will be effective from April 1, 2025.
• It will benefit 23 lakh central government employees.
• It promises a fixed pension amount on retirement.

FEATURES:

• Assured Pension: 50% of the average basic pay drawn over the last 12 months prior to superannuation for a minimum qualifying service of 25 years.
• Proportionate for lesser service up to a minimum of 10 years of service
• Assured Minimum Pension @10,000 per month on superannuation after minimum 10 years of service.
• Assured Family Pension @60% of pension of the employee immediately before her/his demise.