Centre announces Unified Pension Scheme, employees to get assured minimum fund
The plan, which was adopted by the Union cabinet today, ensures that if an employee completes a minimum of 25 years of service, they would get a pension equal to 50% of the average basic salary received during the previous 12 months. The pension will be commensurate with the amount of service provided. It guarantees a family pension equal to 60% of the employee's pension just before to their passing. Additionally, it ensures that after at least ten years of service, a minimum promised pension of Rs 10,000 per month would be paid upon superannuation.