The Unified Pension Scheme (UPS) launches in 2025, offering guaranteed lifetime pensions for government employees. Know how the 8th Pay Commission’s fitment factor may impact salaries and pensions, including expected increases and eligibility criteria.
Pensioners and family pensioners can submit their life certificates through Jeevan Pramaan Portal, Doorstep Banking (DSB) agents, biometric devices in post offices, and physical Jeevan Pramaan forms at bank branches.
The EPFO further said in the circular that all field offices shall send the monthly BRS (bank reconciliation statements) to banks in such a way that pension gets credited to pensioners account on or before last working day of the month.
By implementing these changes, DoPPW seeks to make the system more accessible, helping senior pensioners navigate their benefits with greater ease and efficiency.
Jeevan Pramaan certificate is mandatory to be presented every year for a retired person to continue to receive pension. The last date for submitting the certificate for this year is November 30. Check details on how and where to apply.
The new guidelines, issued by the Department of Pension and Pensioners’ Welfare, Ministry of Personnel, Public Grievances & Pensions are aimed at making the complaint filing process more sensitive, accessible and effective.
Here is a simplified calculation showing how your pension entitlement could reach Rs 10,000 per month by the time you retire.
NPS Vatsalya: If parents contribute Rs 10,000 annually to their child's NPS Vatsalya account for 18 years, a fund of Rs 5 lakh will be accumulated at an estimated return of 10%.
NPS Vatsalya Scheme Overview: Finance Minister Nirmala Sitharaman has introduced the NPS Vatsalya scheme, allowing parents to open pension accounts for their minor children. Aimed at securing long-term financial stability, the scheme converts to a regular NPS account when the child turns 18.
NPS Vatsalya Scheme: The Union Finance Minister will also launch an online platform for subscribing to NPS Vatsalya, release of scheme brochure, and distribute Permanent Retirement Account Number (PRAN) cards to new minor subscribers.
This initiative is part of the upcoming DLC Campaign 3.0, which the Department of Pension and Pensioners' Welfare (DoPPW) will roll out from November 1-30, 2024. The campaign will take place across all district headquarters and major cities in India.
Maharashtra news: The employee unions had expressed their reservations as they wanted the state government to reconsider its decision and give options to the employees. They had pressed for the implementation of the revised pension scheme announced in the state legislature.
In its next phase, the CPPS will transition to an Aadhaar-based payment system (ABPS), further streamlining the process. This new centralised system replaces the existing decentralised model, reducing costs and removing the need for pensioners to visit banks for verification.
The 8th Pay Commission is a proposed initiative aimed at revising the salaries, allowances, and pension benefits for employees of the central government. However, the commission has not yet been officially established for it.
Union Minister of State for Personnel, Public Grievances and Pensions Jitendra Singh launched this new form and its integration with Bhavishya/e-HRMS on August 30.
Union Minister of State for Personnel, Public Grievances and Pensions Jitendra Singh is slated to launch this new form and its integration with Bhavishya/e-HRMS on August 30.
Reports suggest that the Union Finance Ministry is likely to make a decision on the proposal it received from the Labour Ministry, which recommended raising the wage ceiling to Rs 21,000 from the current Rs 15,000.
Unified Pension Scheme: Assured Minimum Pension will be Rs 10,000 per month on superannuation after a minimum of 10 years of service.
Unified Pension Scheme: The Assured Family Pension would be calculated at the rate of 60 per cent of pension of the employee immediately before her or his demise.
Chief Minister Nayab Singh Saini's announcements came months ahead of the Assembly elections in the state. The new pension rates will come into effect from July 1.
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