New Delhi, August 26, 2024.
More than 1.36 lakh employees of Central Railway and Western Railway are likely to benefit from the newly announced Unified Pension Scheme (UPS) of the Union Government, officials said on Monday.
On Saturday, the Narendra Modi-led Centre approved the Unified Pension Scheme (UPS) for central government employees who joined service after January 1, 2004. Employees under National Pension Scheme opting for UPS will be eligible for an assured pension of 50 per cent of the average basic pay drawn over the last 12 months before superannuation; the minimum qualifying service has been kept at 25 years.
Central Railway has 96,039 employees currently, of which 70,778, or 73.69 per cent, are New Pension Scheme subscribers, who will benefit from UPS, said general manager Ram Karan Yadav.
