Maharashtra Cabinet Approves Unified Pension Scheme For Its Employees
The Maharashtra cabinet on Sunday decided to implement for state government employees the Unified Pension Scheme announced by the Union government a day earlier. On Saturday, the Narendra Modi-led Centre approved the Unified Pension Scheme (UPS) for central government employees who joined service after January 1, 2004. Employees under the National Pension Scheme opting for UPS will be eligible for an assured pension of 50 per cent of the average basic pay drawn over the last 12 months before superannuation. The minimum qualifying service has been kept at 25 years. As per the Maharashtra cabinet's decision, UPS will be effective from March this year and will benefit all state government employees, an official said.
