Railway introduces Unified Pension Scheme for employees in Ferozepur division

Railway introduces Unified Pension Scheme for employees in Ferozepur division

Ferozepur, August 26, 2024: Railway authorities in Ferozepur division have introduced the Unified Pension Scheme for central.government employees.

Divisional Railway Manager Sanjay Sahu, shared this event with the media when senior officials including Mrs. Sakshi Singh (Senior Divisional Personnel Officer), Mr. Amarnath (Senior Divisional Finance Manager), and Paramdeep Singh Saini (Senior Divisional Commercial Manager) were also present.

Sahu outlined the UPS’s key features, emphasizing a guaranteed pension for employees with at least 25 years of service. These employees will receive 50% of their average basic salary from the last 12 months before retirement. In case of an employee’s death, their dependents will receive 60% of the pension as a family pension. Employees with a minimum of 10 years of service will receive a minimum assured pension of ₹10,000 per month.

The scheme also includes inflation relief based on the All India Consumer Price Index and a lump-sum payment at retirement, in addition to gratuity, calculated as 1/10th of monthly emoluments for every six months of service.

The UPS has generated positive responses among Ferozepur Division employees.