In a significant development for Maharashtra’s state government employees, Chief Minister Eknath Shinde has announced that employees can choose from three pension schemes: the Centre’s Unified Pension Scheme (UPS), the National Pension Scheme (NPS), and the revised pension scheme introduced by the state government. This decision comes after a meeting with employees’ unions on the night of September 4, which led to the suspension of their ongoing agitation.
The announcement clarifies that employees are not restricted to the UPS alone, providing them with the flexibility to select the scheme that best suits their needs. CM Shinde emphasized that the aim is to ensure fair and sustainable pension options for all state employees. He stated, “All the officers and employees are part of the government. It is our feeling that everyone should get justice and a sustainable pension. The government is of the view that it will not allow the officers and employees to suffer.”
During the meeting, CM Shinde explained that the state government is offering these three pension options in response to the demands of employee organizations. This move allows employees ample time to evaluate and choose the most advantageous scheme for their future.
Under the Unified Pension Scheme, retirees will receive 50% of their average basic pay from the last 12 months of service, provided they have completed at least 25 years of service. For those with 10 to 25 years of service, the pension will be proportional to their service duration. The new scheme will take effect on April 1, 2025, and will also cover those retiring by March 31, 2025, including any applicable arrears.
The decision to offer multiple pension options aims to address concerns and provide a more personalized approach to retirement planning for Maharashtra’s state government employees.
