The biggest update has come out for pensioners, let us tell you that a big relief can be announced. Important updates have come out for the New Pension Scheme (NPS) and Old Pension Scheme (OPS). We will provide you with detailed information about it. The new rules are expected to be implemented in May 2025. This new rule will provide great relief to lakhs of employees and pensioners and the new guidelines issued by the Finance Ministry are changing many rules related to the pension scheme. If you are also a retired employee and one of the pensioners, then this is an important update for you, let us tell you the information in detail.
Big change in New Pension Scheme (NPS)
You all must be aware about the new pension scheme. Under this scheme, the amount withdrawn after retirement gets up to 60% tax exemption and earlier only 40% exemption was given. However, after the implementation of the new rules, all pensioners will get a big benefit and now up to 60% will be given. It has come to light in recent news that if we withdraw up to Rs 50 lakh from the new pension scheme, then now 30 lakh rupees out of them can be withdrawn completely tax free.
About the old pension scheme
Let us tell you that the return of the old pension scheme has been announced in many states. Many changes are made by the central government to benefit all the employees and to provide more benefits. The central government is considering bringing a hybrid model instead of the complete withdrawal of OPS, which can benefit both the new pension scheme and the old pension scheme. The final decision may come by July 2025, although at present no fresh information has come out about this.
Update on the proposal of minimum pension guarantee
According to the recent update, a new proposal will be started under the new pension scheme and all pensioners will be guaranteed a minimum pension of ₹5000 per month. This is an important update for all pensioners and a big benefit will be provided. Apart from this, those who have low salary and have invested less amount in the new pension scheme can also benefit.
Apart from this, according to the important updates that have come out recently, under the new rules, pensioners can expect an annual bonus along with a dearness allowance. The government is expected to provide them more benefits, so the government is considering giving an annual bonus of ₹ 10,000 to every pensioner aged 75 years or above, although no clear information has come out in this matter yet.