UPS will benefit SCR’s 63,000 employees, says Kishore Babu

Hyderabad: The South Central Railway on Tuesday said that around 63,000 of its employees would be benefited by the Unified Pension Scheme (UPS) that was recently approved by the Union Cabinet.

Speaking at a press meet, SCR principal chief personnel officer P. Kishore Babu said all the central government employees, who are the subscribers of the New Pension Scheme (NPS), could opt for the UPS.

He said the UPS would come into effect from April 1, 2025 and had five major benefits such as assured pension, assured family pension, assured minimum pension, inflation Indexation and lump-sum payment at superannuation in addition to gratuity.

He said 75 per cent of its total workforce in SCR or around 63,000 employees, will benefit from the scheme. S. Vivekananda, principal financial adviser, SCR, along with senior railway officials were present.