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Old Pension Scheme

Maharashtra Becomes First State to Implement Unified Pension Scheme for Employees

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In a significant move ahead of upcoming elections, Maharashtra has become the first state to introduce the Unified Pension Scheme (UPS) for its employees, following demands from central government employee organizations for state governments to adopt the scheme. The decision came just 24 hours after the Union Cabinet approved the UPS, which offers 50% of …

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Pension Budget 2024 Expectations: FM May Offer Guarantee Under NPS; Central Government Employees Likely to Get 50% of Last Pay Drawn as Pension

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Article

The government plans to provide 50% of the final pay drawn as pension for central government employees enrolled in the National Pension System (NPS). This effort addresses their worries about the pension payout, even though the current scheme offers attractive returns for those who remain invested for 25-30 years, especially for those recruited after 2004, …

Pension Budget 2024 Expectations: FM May Offer Guarantee Under NPS; Central Government Employees Likely to Get 50% of Last Pay Drawn as Pension Read More »

Karnataka Government Honors Commitment, Implements Old Pension Scheme for 13,000 Employees

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In a significant move, the Karnataka government has officially announced the implementation of the Old Pension Scheme for approximately 13,000 state government employees who were recruited after 2006. This decision comes as a fulfillment of Chief Minister Siddaramaiah’s commitment made during a strike by government employees opposing the introduction of the new pension scheme. 2006 …

Karnataka Government Honors Commitment, Implements Old Pension Scheme for 13,000 Employees Read More »