New Delhi, Sept. 23 -- The Ministry of Railways on Wednesday, September 23, notified the rules for implementing the Unified Pension Scheme (UPS) for its employees covered by the National Pension System (NPS).

The rules spell out eligibility requirements, employee and government contributions, pension calculation, lump-sum benefits, minimum and maximum pension provisions, Voluntary Retirement Scheme (VRS) rules and the process for switching from the UPS to the NPS.

Under the notified framework, eligible railway employees will receive a minimum assured pension of Rs.10,000 after completing 10 years of qualifying service. Employees who have completed 25 years of service will be eligible for the full assured pension. The rules also allow el...