OPS-like benefits for central government staff under Unified Pension Scheme
(AI image)
NEW DELHI: Central govt employees covered under the
Unified Pension Scheme
(UPS) will receive retirement and death gratuity benefits similar to the Old Pension Scheme (OPS), Union minister of state for personnel Jitendra Singh said Wednesday, reports Bharti Jain.
The inclusion of death-cum-retirement gratuity in UPS, a long-pending demand, is expected to encourage many covered under the National Pension System (NPS) to opt for it.
In an order, dept of pensions and pensioners' welfare clarified that employees covered under UPS will also be eligible for the benefit of retirement and death gratuity under the Central Civil Service (Payment of Gratuity under National Pension System) Rules, 2021.
Employees covered under NPS can switch to UPS, ensuring broader pension coverage. The scheme guarantees a pension amount of 50% of the average basic salary earned over 12 months before retirement for those with at least 25 years of service. In addition, employees with a minimum of 10 years of service are entitled to a minimum pension of Rs 10,000 a month upon superannuation.
In the event of a pensioner's death, the family will receive 60% of the last pension drawn.
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