Below is the approximate and realistic Calculator for Pension to come after retirement under UPS or NPS. Salary increase and NPS return included in calculation for Pension projection. Comparision of monthly pension payout by UPS option or NPS option is done here. Fill the required values below and click on calculate button to get Pension… Read More »
The National Pension System (NPS) was introduced by the Central Government of India on January 1, 2004, for all Central Government employees and employees of Central Autonomous Bodies (CABs) who joined on or after that date, except for the Armed Forces. The Pension Fund Regulatory and Development Authority (PFRDA) regulates the NPS. Under NPS scheme, employee… Read More »
As far as i understand, below are the differences between OPS and UPS 1. OPS is 50% of last drawn pay. Last drawn pay for OPS include basic pay, DA, different allowances etc. UPS is based 50% of basic pay. Point to note here is, DA get reset/merged with basic pay on Pay revision. 2.… Read More »
Below is the content of offical notificaiton about UPS (Unified Pension Scheme) The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, today approved the Unified Pension Scheme (UPS). The salient features of the UPS are: Dearness Relief based on All India Consumer Price Index for Industrial Workers (AICPI-IW) as in case of service employees… Read More »