Modi Govt Ensures Financial Security with Unified Pension Scheme

Union Home Minister Amit Shah praised the Modi government's decision to assure pensions for government employees. The Union Cabinet has approved a scheme providing 50% of the salary as pension for 23 lakh employees under the National Pension System (NPS). This move reaffirms the government's commitment to financial security.

Union Home Minister Amit Shah on Saturday hailed the decision to assure pensions for government employees, emphasizing the Modi government's ongoing commitment to the financial security of its workforce.

The Union Cabinet approved a measure ensuring 50 percent of salary as a pension for 23 lakh government employees who joined service under the National Pension System (NPS). This decision was announced by Union Information and Broadcasting Minister Ashwini Vaishnaw.

''Congratulations to our central government employees on the approval of the Unified Pension Scheme by PM Shri @narendramodi Ji in the Union Cabinet today. This approval reiterates our dedication to the financial security of the employees who are crucial to the nation's governance,'' Shah wrote on 'X'.

The National Pension System, applicable to those joining government service after April 1, 2004, was based on a contribution model. Under the new Unified Pension Scheme, employees will receive 50 percent of their average basic pay from the last 12 months as their pension, provided they have served for 25 years.

(With inputs from agencies.)