Latest news with #OldPensionScheme
Time of India
3 days ago
- Business
- Time of India
Haryana cabinet okays Unified Pension Scheme, aims to cove 2.1L employees
Chandigarh: The Haryana cabinet on Thursday announced the implementation of Unified Pension Scheme (UPS) from Aug 1, a move that will go against state govt employees who had been demanding the reinstatement of the Old Pension Scheme (OPS). Tired of too many ads? go ad free now Now, govt employees who joined service after 2006 can opt out of either UPS or National Pension Scheme (NPS), which is prevalent in Haryana. However, there will be no scope for OPS. The decision on pension was among the 33 agenda items taken up by CM Nayab Singh Saini's cabinet during a four-hour meeting. The cabinet also approved pension benefits-related amendments to Haryana Civil Services Rules 2016 and increased the facilitation of housing for the kin of deceased govt employees occupying govt accommodation. Over 2.15 lakh employees will be covered under UPS. UPS will provide 50% of the average basic pay drawn by a state govt employee during the 12 months prior to retirement, provided the employee completes 25 years of service. A minimum guaranteed payout of Rs 10,000 per month will be assured if the employee retires after completing 10 or more years of qualifying service. In the event of the pensioner's death, the family will receive 60% of the last-drawn pension amount. Dearness relief will be applicable to both the assured pension payout and the family pension, calculated in the same manner as dearness allowance (DA). However, dearness relief will be payable only once the pension payout commences. A lumpsum payment will also be allowed at the time of superannuation, amounting to 10% of the monthly emoluments (a sum of basic pay and DA) for every completed six months of qualifying service. Tired of too many ads? go ad free now This lumpsum will not affect the assured pension payout. Once an employee opts for UPS, all terms and conditions of the scheme will be deemed accepted, and this choice will be final. The decision regarding the implementation of UPS in boards, corporations, PSUs and state universities will be taken later, said the CM. Pension Bahali Sangharsh Samiti Haryana president Vijender Dhariwal, who has been spearheading protests for the implementation of OPS, termed the decision futile. "UPS had few takers in the Union govt, and the state govt had to extend the date till Sep. Now, we don't think it will be accepted by employees in Haryana too," he said. OTHER DECISIONS More casual leaves for women | The cabinet approved amendments to Haryana Civil Services (Leave) Rules, 2016, increasing casual leaves for regular woman employees in govt departments, boards and corporations from the previous 20 per calendar year to 25 Changes in treasury officer recruitment rules |The cabinet approved amendments to Haryana Finance Department Treasuries (Group B) Service Rules, 1980. Now, only 25% posts of assistant treasury officer (ATO) will be filled through promotion, down from the earlier 50%. The remaining 75% will be recruited directly by Haryana Public Service Commission (HPSC) Relaxation in job policy for kin of battle casualties | The cabinet approved a significant relaxation in the policy for compassionate appointments given to the dependents of Haryana-domicile battle casualties. The decision will pave the way for compassionate appointments in eight cases where the families had applied after the mandatory three-year period Scholarship for children of fallen soldiers, paramilitary personnel | Students of fallen soldiers and paramilitary personnel will receive an annual scholarship ranging from Rs 60,000 to Rs 96,000, according to a decision by the cabinet. As per the new policy inspired by PM Scholarship Scheme, students from Class VI to XII will receive an annual scholarship of Rs 60,000. For those pursuing graduation, the scholarship will be Rs 72,000 per year, while post-graduate students will receive Rs 96,000 annually. IN all, 189 students will get Rs 1,31,640 as scholarship Royalty on mining material doubled | The cabinet also approved amendments to Haryana Minor Mineral Concession, Stocking, Transportation of Minerals, and Prevention of Illegal Mining Rules, 2012. As a result, the process for providing compensation and rent to farmers has been simplified to ensure greater ease and transparency. In addition, royalty for stone and sand have been revised. Royalty for stone has been increased from Rs 45 to Rs 100 per tonne, while the royalty for sand has been raised from Rs 40 to Rs 80 per tonne. Cabinet has also approved the implementation of an inter-state mineral transportation fee. A charge of Rs 100 per tonne will be levied for inter-state transportation of minerals. The inter-state transit fee has been fixed at Rs 100 if the destination mentioned in the e-transit is within Haryana, and Rs 20 if the destination in e-transit is any place outside Haryana. MSID:: 122093963 413 |
Hindustan Times
5 days ago
- Business
- Hindustan Times
Ludhiana: PSPCL contractual staff demand regularisation
Jun 25, 2025 05:20 AM IST In an escalation of their long-standing struggle, PSPCL outsourced workers employed as complaint-handling bikes and wagons have announced a protest across Ludhiana on June 26, demanding job security and the rollback of privatisation policies. The workers' key demands include regularisation of outsourced employees engaged through private agencies. (HT Photo) The protest announced under the banner of Powercom and Transco Contractual Workers Union, is part of a coordinated state-wide agitation led by the Technical Services Union and the Coordination Committee of Powercom and Transco Outsourced Employees. Workers allege that the state government's move to privatise 10 divisions, including Kharar and Lalru, will result in loss of service benefits, and deteriorating working conditions. Additionally, their key demands include the regularisation of outsourced employees, many of whom have been working in the department for years through private agencies. The union has also demanded the termination of outsourcing contracts, restoration of the Old Pension Scheme for those recruited after January 1, 2004, and withdrawal of recent labour law amendments. Balihar Singh, state president of the Powercom and Transco Contractual Workers Union stated, 'If our demands continue to be ignored, we will intensify our agitation with a massive mobilisation outside the PSPCL headquarters in Patiala on July 3.''
News18
19-06-2025
- 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
Time of India
19-06-2025
- Business
- Time of India
Big shift in retirement policy: Govt announces Old Pension Scheme-like benefits for UPS employees. Check new changes here
Gratuity benefits under new rules Switching from NPS to UPS Minimum pension and family benefits Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Central government employees enrolled under the Unified Pension Scheme UPS ) will now be entitled to retirement and death gratuity benefits, aligning them with those available under the Old Pension Scheme (OPS), Union minister of state for personnel Jitendra Singh said on Wednesday, according to a TOI move addresses a long-standing demand from staff covered under the National Pension System ( NPS ) and is expected to encourage more employees to shift to the UPS, which offers a defined pension Department of Pensions and Pensioners' Welfare has issued an order clarifying that employees under the UPS will be eligible for benefits under the Central Civil Service (Payment of Gratuity under National Pension System) Rules, 2021. This brings parity in retirement and death gratuity for UPS-covered employees with those under currently under NPS can opt for UPS, which guarantees a fixed monthly pension. The scheme provides 50% of the average basic salary drawn over the last 12 months before retirement, applicable to those with at least 25 years of per the scheme, employees with a minimum of 10 years of service will receive a monthly pension of at least ₹10,000 after retirement. In case of the pensioner's death, the family will be paid 60% of the last pension amount drawn.
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Business Standard
19-06-2025
- Business
- Business Standard
Centre brings parity in gratuity under old and new pension schemes
Central government employees under the Unified Pension Scheme (UPS) will be eligible for retirement and death gratuity benefits similar to those provided by the Old Pension Scheme (OPS), said Union Minister Jitendra Singh on Wednesday. Long-pending demand fulfilled The change 'addresses a significant demand of government staff and brings parity in retirement benefits,' Singh, who is minister of state for personnel, was quoted by PTI as saying. Singh described the decision as part of the government's efforts to extend social security to all categories of employees under NPS. The Department of Pension and Pensioners' Welfare (DoPPW) has issued an order enabling employees under UPS to avail of retirement and death gratuity benefits under the Central Civil Services (Payment of Gratuity under National Pension System) Rules, 2021. Key changes and benefits PTI quoted DoPPW Secretary V Srinivas as saying, '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.' The new orders clarify that: Government employees under UPS will receive retirement and death gratuity. In case of death or invalidation during service, employees can opt for OPS benefits. Gratuity up to Rs 25 lakh will be available under the amended rules. PTI also reported that a separate order confirms the parity of benefits between UPS and OPS pensioners. 'The inclusion of death-cum-retirement gratuity in UPS will remove all the misconceptions of the employees,' said Manjeet Singh Patel, president of the All India NPS Employees Federation, according to PTI. The Finance Ministry had earlier notified the introduction of UPS as an option under NPS starting April 1, 2025. According to PTI, the notification allows a one-time option to new central government recruits and requires existing UPS subscribers to formally choose between UPS and the CCS (Pension) Rules or Extraordinary Pension Rules.
