Government employees pay attention! UPS-Calculator has arrived, check how much pension will be received after retirement
UPS-Calculator: There is big news for government employees. The NPS Trust has launched UPS-Calculator for pension calculation. With the help of this calculator, you can calculate how much pension you will get after retirement easily. In the calculator, you will have to give information about your date of birth, job joining date, retirement age, monthly basic salary, annual salary growth etc. You this calculator You can use it.
Financial services department gave information
The Financial Services Department said on Tuesday that government employees can calculate their pension estimate using Unified Pension Scheme (UPS) calculator. The Financial Services Department (DFS) under the Finance Ministry wrote on the social media forum ‘X’ that the NPS Trust has introduced the Integrated Pension Scheme Calculator. This calculator provides pension estimates to both NPS (National Pension System) and UPS shareholders. The department said that this calculator will help shareholders to choose the right pension scheme after thinking.
Fix pension will be available under UPS
In view of the demand of government employees, the government had decided to bring the Integrated Pension Scheme (UPS). Under this, there is a provision to give 50 percent of the average basic salary received in the 12 months before retirement. The PFRDA said in the statement that the rules related to UPS have come into force from April 1, 2025. Please tell that NPS came into force on January 1, 2004. The Union Cabinet approved the introduction of UPS on 24 August 2024. Prior to January 2004, under the Effective Old Pension Scheme (OPS), employees used to get 50 percent of the last basic salary of their tenure as pension. Unlike OPS, UPS is of contributory nature. In this, employees will have to contribute 10 percent of their basic salary and dearness allowance, while the contribution of the employer (central government) will be 18.5 percent. However, the final payment depends on the market returns on the fund that is mostly invested in government bonds.
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