The Dhanbad Rail Division will offer the Unified Pension Scheme (UPS) to its employees who joined after 2004. This applies to about 18,449 employees. They have the option to stay in the New Pension Scheme (NPS) if they prefer. The UPS will be effective from April 1, 2025. ...
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Under UPS, employees will receive a pension equivalent to half their average salary for the last 12 months after completing 25 years of service, along with a cost of living allowance. The scheme also offers a minimum pension of ₹10,000 after 10 years of service, with a proportionate increase for longer service periods. In case of death, the family receives 60% of the deceased's pension. Employees contribute 10% to the scheme, while the government contributes 18.5%. Employees have the freedom to choose between NPS and UPS.