The Maharashtra cabinet decided to adopt the Unified Pension Scheme (UPS) for state government employees on 25 August, 2024. This follows the schemes’ approval by the Central government on 24 August, 2024.
The UPS, previously announced by the Union government for Central employees, promises an assured pension of 50 per cent of the average basic pay drawn over the last 12 months before retirement, provided employees have completed a minimum of 25 years of service.
The Maharashtra cabinet’s decision means the UPS will come into effect from March this year for all state government employees. This move aligns Maharashtra with the recent Central government policy aimed at enhancing pension benefits.
In addition to the UPS, the Maharashtra cabinet approved several other significant initiatives. These include an expansion of the uninterrupted power supply scheme for farmers, the launch of the Rs 7,000 crore Nar-Par-Girna river linking project, and major infrastructure development in Thane district.
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Maharashtra’s cabinet has approved the Unified Pension Scheme (UPS) for state employees, set to begin in March 2024. This new scheme promises secure pensions and enhanced benefits for government workers in the state. ??