Good news for govt employees, this state becomes first to implement Unified Pension Scheme

Employees under the National Pension Scheme (NPS) who opt for UPS will be eligible for an assured pension of 50 per cent of their average basic pay over the last 12 months before retirement.

Maharashtra became the first state to implement the Unified Pension Scheme (UPS). On Sunday, the Maharashtra cabinet decided to implement for state government employees the Unified Pension Scheme announced by the Union government the previous day.

On Saturday, the Narendra Modi-led Centre approved the Unified Pension Scheme (UPS) for central government employees who joined service after January 1, 2004. Employees under National Pension Scheme opting for UPS will be eligible for an assured pension of 50 per cent of the average basic pay drawn over the last 12 months before superannuation The minimum qualifying service has been kept at 25 years.

As per the Maharashtra cabinet’s decision, UPS will be effective from March this year and will benefit all state government employees, an official said here.

The tenure of the Maharashtra assembly ends in November this year, and polls are likely to be held in October-November.

“The cabinet also cleared the proposal to expand the uninterrupted power supply scheme to more farmers in the state. They would get supply during the day. It cleared the Rs 7,000 crore Nar-Par-Girana river linking scheme that would primarily benefit north Maharashtra districts like Nashik and Jalgaon,” he said.

The state government would raise Rs 5000 crore under Mahatma Phule Renewable Energy and Infrastructure Technology Ltd for an ambitious project in Thane district, he said.

Thane is the home turf of Chief Minister Eknath Shinde.

The revenue relief in force for land owned by BJP Lok Sabha member and royal scion Udayanraje Bhosale will continue for his successors as well, as per a decision cleared by the cabinet, the official added. 

(With inputs from ANI)

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