Government Approves Unified Pension Scheme for 23 Lakh Employees

The new scheme guarantees assured pensions, family pensions, and inflation protection starting April 2025.

Employees with 25 years of service will receive 50% of their last year's average basic pay as a pension.
A minimum pension of ₹10,000 per month is guaranteed for those with at least 10 years of service.
Family pensions will provide 60% of the pensioner's last drawn amount in case of death.
The government's contribution to pension funds will increase from 14% to 18.5%.
The scheme is optional for current National Pension System subscribers but mandatory for new employees.