Union Cabinet Approves Unified Pension Scheme for Central Govt. Employees | NewsX

The Union Cabinet, chaired by PM Narendra Modi, has approved the Unified Pension Scheme (UPS) for central government employees. The UPS aims to provide financial security post-retirement, including pensions, family pensions, and assured minimum pensions. Effective from April 1, 2025, it will benefit 23 lakh central employees and potentially 90 lakh if adopted by state governments. The scheme introduces an annual cost increase and allows existing NPS subscribers to switch.

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