Unified Pension Scheme (UPS) - Key Points

Approval:

The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, approved the Unified Pension Scheme (UPS).

Assured Pension:

• 50% of the average basic pay of the last 12 months before retirement.
• Applicable for a minimum of 25 years of service.
• Proportionate pension for service less than 25 years, with a minimum of 10 years required.

Assured Family Pension:

• 60% of the pension received by the employee before their demise.

Assured Minimum Pension:

• ₹10,000 per month after a minimum of 10 years of service.

Inflation Indexation:

Applied to assured pension, family pension, and minimum pension.

Dearness Relief:

Based on the All India Consumer Price Index for Industrial Workers (AICPI-IW), similar to service employees.

Lump Sum Payment on Superannuation:

• Additional to gratuity.
• 1/10th of monthly emoluments (pay + DA) for every completed six months of service.
• This payment does not affect the assured pension amount.