Government Introduces Unified Pension Scheme for Central Employees.

KEY POINTS:

• ASSURED PENSION: 50% of average basic pay drawn over the last 12 months before retirement, with a minimum service period of 25 years.

• PROPORTIONATE PENSION: For shorter service periods, with a minimum pension of Rs 10,000 per month after 10 years of service.

• FAMILY PENSION: 60% of the employee's pension upon their demise, ensuring continued support for loved ones.

• INFLATION INDEXATION: Pension adjusted according to inflation, ensuring the value of the pension remains intact.

• LUMP SUM PAYMENT: A one-time payment at superannuation, providing a financial boost.

• 23 LAKH BENEFICIARIES: Approximately 23 lakh central government employees will benefit from this scheme.

• IMPROVED RETIREE LIFE: Enhanced financial security and peace of mind for retirees.

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Income Tax Department Grapples with 9.7 Million ITR Backlog, Taxpayers Await Refunds

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