The Economic Times

UPS for Railway employees: Assured pension, VRS and one-time switch to NPS explained

The Ministry of Railways has announced the Unified Pension Scheme rules for employees covered under the National Pension System. Employees appointed after January 1, 2004, are eligible for this scheme and will contribute 10% of their basic pay. A minimum pension of Rs 10,000 is assured after completing ten years of service. Additionally, employees can opt for voluntary retirement after 20 years of service.