YEARS
The Centre constituted a committee which held 100 meetings with several top organisations, including the RBI and the World Bank. Based on the committee’s recommendation, the UPS was approved in the Cabinet meeting on Saturday.
The Cabinet led by Prime Minister Narendra Modi on August 24 approved the Unified Pension Scheme (UPS) for government employees. The move aims to provide assured pension, family pension and assured minimum pension. Union Minister Ashwini Vaishnav gave this information during a media briefing after the Cabinet meeting. He said that the Center constituted a committee which held 100 meetings with several top organizations including RBI and World Bank. Based on the recommendation of the committee, UPS was approved in the Cabinet meeting on Saturday. If someone leaves the job after 10 years, then a pension of Rs 10 thousand will be given
Government employees have demanded some changes in the new pension schemes. For this, PM Modi constituted a committee headed by Cabinet Secretary TV Somanathan. This committee held more than 100 meetings with various organizations and almost all the states. There is a difference between the way PM Modi works and the way the opposition works. Unlike the opposition, PM Modi believes in holding extensive consultations. After detailed consultations with everyone, including the Reserve Bank of India and the World Bank, the committee has recommended a unified pension scheme. Today, the Union Cabinet has approved this unified pension scheme, and it will be implemented in the future.
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