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News18
a day ago
- Politics
- News18
Unified Pension Scheme: Employees Now Eligible For Retirement, Death Gratuity Benefits, Says Minister
Last Updated: Jitendra Singh, the Minister of State for Personnel, says the new provision reflects government's commitment to ensure social security for all categories of employees under NPS. All central government employees part of the Unified Pension Scheme (UPS) will now be eligible for retirement and death gratuity benefits available under the Old Pension Scheme (OPS), Union Minister Jitendra Singh said on Wednesday. Responding to this long-pending demand by a large section of government employees, he said, the move addresses a significant demand of government staff and brings parity in retirement benefits. Singh, the Minister of State for Personnel, said the new provision reflects the government's commitment to ensure social security for all categories of employees under the National Pension System (NPS). Addressing a presser on the 'transformational" journey of the Ministry of Personnel, Public Grievances and Pensions over the last 11 years, he highlighted a series of reforms aimed at simplifying governance, empowering citizens, and humanising administration. Central government employees covered under the UPS will now be eligible for retirement and death gratuity benefits, as per the provisions of the Central Civil Services (Payment of Gratuity under National Pension System) Rules, 2021, Singh said. The Department of Pension and Pensioners' Welfare (DoPPW), under the Personnel Ministry, on Wednesday issued an order on the 'options to avail benefits under Old Pension Scheme on death of government servant during service or his discharge from government service on account of invalidation or disability for central government servants covered under Unified Pension Scheme". 'The order gives an employee the option to revert to OPS in case of death in service. It is progressive in nature and addresses the clarifications being sought by employees," DoPPW Secretary V Srinivas told PTI. President of the All India NPS Employees Federation, Manjeet Singh Patel, welcomed the order and termed it a historic and much-needed move by the government. Patel said the inclusion of death-cum-retirement gratuity in UPS will remove all the misconceptions of the employees. He said, the inclusion of OPS benefits in case of death or disability of any employee during the service under UPS is a great justice. 'Therefore, a lot of employees will opt for the UPS now," Patel said. The DoPPW had notified the Central Civil Services (Implementation of National Pension System) Rules, 2021, to regulate service-related matters of central government employees covered under the NPS. Under these, Rule 10 provides for the option to be exercised by every central government employee covered under the NPS for availing benefits under the NPS or the Old Pension Scheme in the event of death of a government servant during service or his discharge on the ground of invalidation or disablement. 'UPS has been notified as an option under the NPS. Therefore, it has been decided that the central government civil employees who opt for UPS under the NPS shall also be eligible for option for availing benefits under UPS or the CCS (Pension) Rules, 2021 or the CSS (Extraordinary Pension) Rules, 2023 in the event of death of the government servant during service or his discharge on the ground of invalidation or disablement," the order said. The finance ministry, on January 24, issued a notification regarding the introduction of UPS as an option under the NPS for recruits to the central government civil service with effect from April 1, 2025. It gives a one-time option to the central government employees covered under the NPS for inclusion under the UPS. Every central government servant who opts for the UPS under the National Pension System shall, at the time of joining the service, exercise an option in Form 1 for availing benefits under the UPS or under the CCS (Pension) Rules, 2021 or the CCS (Extraordinary Pension) Rules, 2023 in the event of his/her death or boarding out on account of disablement or retirement on invalidation, the order said. 'Existing government servants, who have opted for the Unified Pension Scheme under the National Pension System, shall also exercise such option as soon as possible after the notification of these clarifications," it said. In the case of the death of a government servant while in service, the last option exercised by the deceased employee before his death shall be treated as final, and the family shall have no right to revise the option, said the order issued to all central government departments. The DoPPW also issued another order on Wednesday to clarify that the central government employees covered under the UPS shall also be eligible for the benefit of retirement gratuity and death gratuity under the provisions of the Central Civil Service (Payment of Gratuity under National Pension System) Rules, 2021. DoPPW Secretary Srinivas said this order 'brings parity between the NPS and UPS pensioners and they will be eligible for Rs 25 lakh gratuity also". Both these orders were released by Singh during the conference. What Is Unified Pension Scheme? The Union Cabinet in August 2024 approved the Unified Pension Scheme (UPS), for an assured pension post-retirement. The UPS has been implemented from April 1, 2025. The move comes after the long-pending demand of the central government employees to reform the new pension scheme (NPS). It is the latest pension scheme for government employees. Under the UPS, there will be a provision of a fixed assured pension, unlike the New Pension Scheme (NPS) which does not promise a fixed pension amount. The Unified Pension Scheme has five pillars: Assured Pension: Under the UPS, the fixed pension will be 50 per cent 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 lesser service period up to a minimum of 10 years of service. Assured Family Pension: It will also have an assured family pension, which is 60 per cent of the pension the employee was receiving. It will be given immediately in case of the retiree's demise. Assured Minimum Pension: In the case of superannuation after a minimum 10 years of service, the UPS has a provision of an assured minimum pension of Rs 10,000 per month. Inflation Indexation: There is a provision of indexation benefit on assured pension, on assured family pension and assured minimum pension. top videos View all Gratuity: Lump-sum payment at superannuation in addition to gratuity. It will be 1/10th of the monthly emolument (pay + dearness allowance) as on the date of superannuation for every completed six months of service. This payment will not reduce the quantum of assured pension. (With Inputs from PTI) About the Author Business Desk A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover More Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! tags : National Pension Scheme (NPS) Location : New Delhi, India, India First Published: June 18, 2025, 19:19 IST News business » savings-and-investments Unified Pension Scheme: Employees Now Eligible For Retirement, Death Gratuity Benefits, Says Minister
India Gazette
2 days ago
- Politics
- India Gazette
Union Minister Jitendra Singh lauds 11 years of Modi govt; says era marked a
New Delhi [India], June 18 (ANI): Union Minister Jitendra Singh on Wednesday lauded the extensive administrative reforms that have reshaped India's governance landscape on the occasion of the completion of 11 years of the NDA government under Prime Minister Narendra Modi, emphasising their profound socio-economic implications during the time. Speaking to reporters after addressing a conference on '11 years of the transformational journey of the Ministry of Personnel, Public Grievances and Pensions', Singh underscored the government's focus on leveraging technology to enhance ease of living and governance while also addressing historical injustices and promoting compassionate policies. 'The administrative reforms that happened in the last 11 years were not limited to governance... They had huge socio-economic ramifications. There was an effort to promote ease of living and ease of governance by using technology... PM Modi pledged that the sections of society who did not get complete justice and were deprived of their rights will be taken care of. By ending the British Empire's dubious legacy of getting certificates attested by a gazetted officer, PM Modi sent a huge message that he trusts the youth to take the country's reins in their hands,' the Union Minister stated. 'A provision was brought that despite stillbirth, a woman can get the right to childcare leave and maternity leave... Such reforms have been introduced, which are compassionate and also have the scope for far-reaching impact,' he added. The PM Modi-led NDA government is marking the completion of 11 years in office this year. Prime Minister Narendra Modi was first sworn in on May 26, 2014, and assumed office for a third consecutive term on June 9 last year. Outlining the 11 years of the transformational journey of the Ministry of Personnel, Public Grievances and Pensions, the Union Minister highlighted a series of reforms aimed at simplifying governance, empowering citizens and humanising administration. He highlighted the announcement that the Central government employees who are covered under the 'Unified Pension Scheme' will now be eligible for retirement and death gratuity benefits, as per the provisions of the Central Civil Service (Payment of Gratuity under National Pension System) Rules, 2021 and emphasised the government doing away with redundant rules by repealing over 1,600 outdated provisions--many of them colonial-era legacies--as a strong message of trust in citizens, particularly India's youth. Meanwhile, responding to the Congress party's criticism of Indian foreign policy and diplomacy following PM Narendra Modi and US President Donald Trump's telephonic conversation on the sidelines of the G7 summit, Singh dismissed the opposition's stance, saying, 'They (Congress) would not be called Opposition if they don't oppose... We have put figures to compare the situation before 2014 and now... This is an evidence-based figures support the fact that the last 11 years have been a turning point for India, both domestically and internationally. The esteem of Indians has gone up.' (ANI)
Time of India
2 days ago
- Business
- Time of India
Employees under Unified Pension Scheme now eligible for retirement, death gratuity benefits
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi: All central government employees part of the Unified Pension Scheme UPS ) will now be eligible for retirement and death gratuity benefits available under the Old Pension Scheme (OPS), Union Minister Jitendra Singh said on to this long-pending demand by a large section of government employees, he said, the move addresses a significant demand of government staff and brings parity in retirement benefits Singh, the Minister of State for Personnel , said the new provision reflects the government's commitment to ensure social security for all categories of employees under the National Pension System (NPS).Addressing a presser on the "transformational" journey of the Ministry of Personnel, Public Grievances and Pensions over the last 11 years, he highlighted a series of reforms aimed at simplifying governance, empowering citizens, and humanising government employees covered under the UPS will now be eligible for retirement and death gratuity benefits, as per the provisions of the Central Civil Services (Payment of Gratuity under National Pension System) Rules, 2021, Singh Department of Pension and Pensioners' Welfare (DoPPW), under the Personnel Ministry, on Wednesday issued an order on the "options to avail benefits under Old Pension Scheme on death of government servant during service or his discharge from government service on account of invalidation or disability for central government servants covered under Unified Pension Scheme"."The order gives an employee the option to revert to OPS in case of death in service. It is progressive in nature and addresses the clarifications being sought by employees," DoPPW Secretary V Srinivas told of the All India NPS Employees Federation , Manjeet Singh Patel, welcomed the order and termed it a historic and much-needed move by the said the inclusion of death-cum-retirement gratuity in UPS will remove all the misconceptions of the said, the inclusion of OPS benefits in case of death or disability of any employee during the service under UPS is a great justice."Therefore, a lot of employees will opt for the UPS now," Patel DoPPW had notified the Central Civil Services (Implementation of National Pension System) Rules, 2021, to regulate service-related matters of central government employees covered under the these, Rule 10 provides for the option to be exercised by every central government employee covered under the NPS for availing benefits under the NPS or the Old Pension Scheme in the event of death of a government servant during service or his discharge on the ground of invalidation or disablement."UPS has been notified as an option under the NPS. Therefore, it has been decided that the central government civil employees who opt for UPS under the NPS shall also be eligible for option for availing benefits under UPS or the CCS (Pension) Rules, 2021 or the CSS (Extraordinary Pension) Rules, 2023 in the event of death of the government servant during service or his discharge on the ground of invalidation or disablement," the order finance ministry, on January 24, issued a notification regarding the introduction of UPS as an option under the NPS for recruits to the central government civil service with effect from April 1, 2025. It gives a one-time option to the central government employees covered under the NPS for inclusion under the central government servant who opts for the UPS under the National Pension System shall, at the time of joining the service, exercise an option in Form 1 for availing benefits under the UPS or under the CCS (Pension) Rules, 2021 or the CCS (Extraordinary Pension) Rules, 2023 in the event of his/her death or boarding out on account of disablement or retirement on invalidation, the order said."Existing government servants, who have opted for the Unified Pension Scheme under the National Pension System, shall also exercise such option as soon as possible after the notification of these clarifications," it the case of the death of a government servant while in service, the last option exercised by the deceased employee before his death shall be treated as final, and the family shall have no right to revise the option, said the order issued to all central government DoPPW also issued another order on Wednesday to clarify that the central government employees covered under the UPS shall also be eligible for the benefit of retirement gratuity and death gratuity under the provisions of the Central Civil Service (Payment of Gratuity under National Pension System) Rules, Secretary Srinivas said this order "brings parity between the NPS and UPS pensioners and they will be eligible for Rs 25 lakh gratuity also".Both these orders were released by Singh during the conference.
Hindustan Times
2 days ago
- Politics
- Hindustan Times
Employees under Unified Pension Scheme now eligible for retirement, death gratuity benefits
New Delhi, All central government employees part of the Unified Pension Scheme will now be eligible for retirement and death gratuity benefits available under the Old Pension Scheme , Union Minister Jitendra Singh said on Wednesday. Responding to this long-pending demand by a large section of government employees, he said, the move addresses a significant demand of government staff and brings parity in retirement benefits. Singh, the Minister of State for Personnel, said the new provision reflects the government's commitment to ensure social security for all categories of employees under the National Pension System . Addressing a presser on the "transformational" journey of the Ministry of Personnel, Public Grievances and Pensions over the last 11 years, he highlighted a series of reforms aimed at simplifying governance, empowering citizens, and humanising administration. Central government employees covered under the UPS will now be eligible for retirement and death gratuity benefits, as per the provisions of the Central Civil Services Rules, 2021, Singh said. The Department of Pension and Pensioners' Welfare , under the Personnel Ministry, on Wednesday issued an order on the "options to avail benefits under Old Pension Scheme on death of government servant during service or his discharge from government service on account of invalidation or disability for central government servants covered under Unified Pension Scheme". "The order gives an employee the option to revert to OPS in case of death in service. It is progressive in nature and addresses the clarifications being sought by employees," DoPPW Secretary V Srinivas told PTI. President of the All India NPS Employees Federation, Manjeet Singh Patel, welcomed the order and termed it a historic and much-needed move by the government. Patel said the inclusion of death-cum-retirement gratuity in UPS will remove all the misconceptions of the employees. He said, the inclusion of OPS benefits in case of death or disability of any employee during the service under UPS is a great justice. "Therefore, a lot of employees will opt for the UPS now," Patel said. The DoPPW had notified the Central Civil Services Rules, 2021, to regulate service-related matters of central government employees covered under the NPS. Under these, Rule 10 provides for the option to be exercised by every central government employee covered under the NPS for availing benefits under the NPS or the Old Pension Scheme in the event of death of a government servant during service or his discharge on the ground of invalidation or disablement. "UPS has been notified as an option under the NPS. Therefore, it has been decided that the central government civil employees who opt for UPS under the NPS shall also be eligible for option for availing benefits under UPS or the CCS Rules, 2021 or the CSS Rules, 2023 in the event of death of the government servant during service or his discharge on the ground of invalidation or disablement," the order said. The finance ministry, on January 24, issued a notification regarding the introduction of UPS as an option under the NPS for recruits to the central government civil service with effect from April 1, 2025. It gives a one-time option to the central government employees covered under the NPS for inclusion under the UPS. Every central government servant who opts for the UPS under the National Pension System shall, at the time of joining the service, exercise an option in Form 1 for availing benefits under the UPS or under the CCS Rules, 2021 or the CCS Rules, 2023 in the event of his/her death or boarding out on account of disablement or retirement on invalidation, the order said. "Existing government servants, who have opted for the Unified Pension Scheme under the National Pension System, shall also exercise such option as soon as possible after the notification of these clarifications," it said. In the case of the death of a government servant while in service, the last option exercised by the deceased employee before his death shall be treated as final, and the family shall have no right to revise the option, said the order issued to all central government departments. The DoPPW also issued another order on Thursday to clarify that the central government employees covered under the UPS shall also be eligible for the benefit of retirement gratuity and death gratuity under the provisions of the Central Civil Service Rules, 2021. DoPPW Secretary Srinivas said this order "brings parity between the NPS and UPS pensioners and they will be eligible for ₹25 lakh gratuity also". Both these orders were released by Singh during the conference.
Time of India
05-06-2025
- Business
- Time of India
Eid-ul-Adha 2025 holiday: Will banks, stock market, schools and offices be closed on Bakrid?
Eid-ul-Adha 2025 holiday: Eid-ul-Adha, also known as Bakrid, is one of the most important Islamic festivals celebrated by Muslims around the world. This holy festival, also called Eid-ul-Zuha, Bakra Eid or the Festival of Sacrifice, falls on the 10th day of Dhul Hijjah – the last month in the Islamic lunar calendar. The date of Eid-ul-Adha depends on the sighting of the crescent moon, which marks the start of Dhul Hijjah. The festival honours the deep faith of Prophet Ibrahim (Abraham) who was ready to sacrifice his son on God's command. Just as he was about to do so, God intervened and sent a lamb to be sacrificed instead. This act symbolises obedience, sacrifice, and submission to God's will. Muslims commemorate this event by offering prayers, sacrificing animals, and distributing meat to the poor. Is Eid-ul-Adha 2025 a Bank Holiday? Yes, Eid-ul-Adha 2025 will be a bank holiday in many parts of India. On Friday, 6 June 2025, banks will remain closed in Thiruvananthapuram and Kochi for Bakrid. On the following day, Saturday, 7 June 2025, most banks across India will observe a holiday for Eid al-Zuha, except in Ahmedabad, Gangtok, Itanagar, Kochi, and Thiruvananthapuram. These cities will keep their banks open as it falls on the first Saturday of the month, which is usually a working day for banks. If you're planning to visit a bank around Eid-ul-Adha 2025, make sure to check your local holiday list in advance. Will the Indian Stock Market Be Closed on Bakrid 2025? Despite Eid-ul-Adha being a national holiday in many areas, the Indian stock market will remain open on both Friday, 6 June 2025, but not on Saturday, 7 June 2025 due to a weekly off. According to the holiday calendar of NSE and BSE, there will be no trading holiday for Bakrid in 2025 if it falls on Friday. So, if you're an investor or trader, you can continue your usual market activities during this period. Are Government Offices Closed for Eid-ul-Adha 2025? Most government offices across India will observe a holiday on Saturday, 7 June 2025, as Eid-ul-Adha is listed as a gazetted holiday. However, for offices in Delhi, any change in the holiday date based on the moon sighting will be confirmed and announced by the Ministry of Personnel, Public Grievances and Pensions, in coordination with the Government of NCT of Delhi. For offices in other states and union territories, holiday changes can be decided by the Central Government Employees Welfare Coordination Committees, depending on the decisions of local governments. Will Schools and Colleges Be Closed on Eid-ul-Adha 2025? Yes, schools, colleges, and most educational institutions are expected to be closed on Saturday, 7 June 2025, in observance of Bakrid. As with other Islamic festivals, the final confirmation of the holiday date may depend on the moon sighting, so schools might issue updates a day or two before the festival. Parents and students should keep an eye out for announcements from their respective schools or local education departments. Eid-ul-Adha 2025 will be widely celebrated across India with great devotion. While most banks, schools, government offices, and colleges are expected to be closed on 7 June 2025, the stock market will remain open. The festival brings with it a public holiday in many regions, and as always, the final date depends on the sighting of the crescent moon. So, whether you're observing the festival or planning your bank or office visits, it's best to stay informed about your local holiday calendar. For more informative articles on historical and upcoming events from around the world, please visit Indiatimes Events.
