Govt nod to Unified Pension Scheme for its employees

PANAJI

The State Cabinet, chaired by the Chief Minister Pramod Sawant on Monday accorded in-principle approval for the implementation of Centre’s Unified Pension Scheme (UPS) for its employees, from April 1, 2025 onwards.

Addressing a press conference, Sawant said that the pension scheme guarantees 50 per cent of the average basic pay of the past 12 months preceding the date of retirement as the guaranteed pension for the employee, provided the employee has served for at least 25 years.

He said that the scheme also assures minimum pension of Rs 10,000 per month on superannuation after minimum 10 years of service and assured family pension of 60 per cent of pension of the employee immediately after his or her demise.

Sawant said that the State will have to shell out 4.5 per cent of additional payment to the pensioners, which comes to extra financial liability of Rs 10 crore monthly.

“Once, the Central government issues an order for implementation from April 1, 2025, the State will also notify the same,” he said.

The employees will be also eligible for inflation indexation, dearness relief, etc.

The Central cabinet had in August approved UPS stating that it will ensure ‘dignity and financial security’ of employees. As per Centre, the employees can select between UPS and the National Pension Scheme.

Meanwhile, in yet another decision, the State cabinet gave nod for extension of Goa IT policy 2018 along with its schemes and amended empowered committee. This is the second extension granted to the five-year long policy, after it lapsed in August 2023. The policy aimed at creating 10,000 jobs in the IT sector.

The cabinet also approved an amendment to the scheme to provide employment to the children of Freedom Fighters. Sawant said that amendment was required after it was observed that two-three people from the same family were getting jobs under the scheme.

“There are a total of 30-35 people who are left to be recruited under the scheme,” he said.