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: Assured pension: 50% of the average basic pay drawn over the last 12 months prior to superannuation for a minimum qualifying service of 25 years. This pay is to be proportionate for lesser service period upto a minimum of 10 years of service. Assured family pension: @60% of pension of the employee immediately before her/his demise. Assured minimum pension: @10,000 per month on superannuation after minimum 10 years of service. Inflation indexation: on assured pension, on assured family pension and assured minimum
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Read MoreScheme of optional "All India Leave Travel Concession' (AILTC) facility, once in a block of four years i.e. 2018-2021 onwards on surrender of Privilege Passes (PP) - Clarification on various points of doubts and Procedure Order for processing the claims thereof. Click Above or See Below PDF RAIL
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