Nagpur: The Maharashtra Cabinet on August 25 decided to implement for State Government employees the Unified Pension Scheme (UPS) announced by the Prime Minister Narendra Modi-led Union Government a day earlier.
As per the Maharashtra Cabinet’s decision, UPS will be effective from March this year and will benefit all State Government employees in the poll-bound state, an official was quoted as saying by a news agency.
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The Modi Government on August 24 approved the UPS for Central Government employees who joined service after January 1, 2004. Employees under the National Pension Scheme (NPS) opting for UPS will be eligible for an assured pension of 50 percent of the average basic pay drawn over the last 12 months before superannuation. The minimum qualifying service has been kept at 25 years.
Chief Minister Eknath Shinde Government’s decision assumes significance since the tenure of the Maharashtra Assembly ends in November this year, and polls are likely to be held in October-November.
