TINSUKIA: The Unified Pension Scheme (UPS) for Central Government employees effective from April 1, 2025 which was approved by the Union Cabinet has been hailed by the Railway employees.
Detailing the key features of the UPS in a press meet at DRM’s office Tinsukia on Tuesday, the Divisional Railway Manager Tinsukia Uttam Prakash stated that it ensures fixed and guaranteed pension contrasting with the NPS. The UPS scheme ensures 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. The 60 per cent of pension of the employee will be provided immediately before his/her demise, said Prakash adding that the scheme will provide minimum pension Rs 10000 per month on superannuation after minimum 10 years of service besides the employee will get lump sum payment at superannuation in addition to gratuity. In respect of NPS scheme, Prakash mentioned that the UPS is not like the NPS which lacks guaranteed return after retirement or demise. The UPS allows NPS employees the option to switch over to new scheme while the existing as well as future employees will have an option of joining NPS or UPS, the choice once exercised will be final. The employees contribution will not increase and the Government will provide additional contribution 14 to 18.5 per cent for implementing UPS.
Meanwhile, NFR Mazdoor Union which spearheaded long 20 years of agitation against NPS expressed satisfaction over implementation of UPS and viewed that the new scheme will boost morale of hardworking railway employees.
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