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Cabinet approves assured pension for govt employees; makes NPS attractive
Updated On: 24 August, 2024 10:12 PM IST | New Delhi | PTI
Announcing Cabinet decisions, Information and Broadcasting Minister Ashwini Vaishnaw said the Unified Pension Scheme (UPS) announced that government employees will now be eligible to get 50 per cent of the average basic pay drawn over the last 12 months before the superannuation as pension
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Ashwini Vaishnaw. File Pic/PTI
Union Cabinet on Saturday approved an assured 50 per cent of salary as pension for 23 lakh government employees who joined service under the National Pension System (NPS).
The National Pension System is applicable for government employees joining the service after April 1, 2004. It was based on the premise of contribution rather than defined benefit applicable for employees prior to the NPS.
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