New Delhi: The Unified Pension Scheme (UPS) is going to start from April 1 by the Central Government for central employees. The central employees and new employees working in the present time will also be eligible to apply for this pension scheme. The UPS will work on the lines of the National Pension Scheme. 10% contribution of employees' salary will be deposited in this fund.

Started by the Central Government, Unified Pension Scheme (Unified Pension Scheme) will be implemented from April 1, 2025. Under this pension scheme, the employees working in the central government are guaranteed to give Rs 10,000 per month after retirement. Under this, 10 percent contribution of salaries of employees is deposited in this fund. The government will also submit a contribution of 10 percent to the employees' fund.

UPS will work on the lines of NPS

Employees will be able to apply for unified pension scheme (UPS) both online and offline. Applicants, employees working in the central government and such employees, who have been new recruitment, will also be eligible for this application. While applying, the option of registered pension fund and investment pattern for the employees will be present. The UPS will work on the lines of the National Pension Scheme, which is currently running at the present time.

Conditions will be applicable for withdrawal of money

Only after the completion of the time period of 3 years from the date of connecting the unified pension scheme, the members can withdraw up to 25 per cent from their individual funds. A maximum of 3 times withdrawal will be possible during the entire pension scheme. If an employee has withdrawn the deposits in the past, under the NPS, then that amount will also be counted in it. Some conditions will be implemented for withdrawal, which only after completing the employees will be able to withdraw the amount.

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Employees have served for at least 10 years

About 23 lakh central employees from UPS will benefit after their retirement. The Central Government launched the UPS scheme on August 24, 2024 last year. This is going to be implemented from April 1, 2025. Started by the central government, the scheme aims to provide stability, financial security and respect to government employees even after retirement. At present, government employees are under the National Pension System (NPS). In UPS, all central government employees get a pension guarantee of Rs 10,000 per month. For this, it is mandatory for employees to retire after at least 10 years of service.