Goa Cabinet Gives Green Signal To Unified Pension Scheme

Panaji: The Goa cabinet on Monday gave its nod to implement the Unified Pension Scheme (UPS) for government employees. The decision was taken in a cabinet meeting chaired by CM Pramod Sawant on Monday.

"In today's Cabinet meeting, two major decisions have been taken by the government of Goa . A unified pension scheme has been implemented in Goa as per the norms of the Central government. "It is a matter of happiness for the government employees," Goa Chief Minister Pramod Sawant was quoted as saying by news agency ANI. 

Salient Features of Unified Pension Scheme

• Under the Unified Pension Scheme (UPS), central government employees will be assured a pension of about 50% of the average basic pay drawn over the last 12 months prior to superannuation for a minimum qualifying service of 25 years. 
• This pay is to be proportionate for a lesser service period up to a minimum of 10 years of service.
• There will be an Assured family pension: @60% of the pension of the employee immediately before her/his demise.
• Assured minimum pension of Rs 10,000 per month on superannuation after a minimum 10 years of service.
• There will be Inflation indexation: on assured pension, on assured family pension and assured minimum pension

UPS will be in effect from April 1, 2025. As per an official statement, nearly 23 lakh Central Government employees. The same architecture has been designed and adopted by State Governments, which will  benefit over 90 lakh State Government employees who are presently on NPS.