Maharashtra Revised New Pension Scheme: Benefits, Features, Eligibility How to Apply

Maharashtra Revised New Pension Scheme : Maharashtra Government has updated the new pension scheme for state employees by the Chief Minister. The Chief Minister announced the revised National Pension Scheme (NPS) in the Maharashtra Assembly on March 1, 2024. This was the last day of the budget session.

The Maharashtra government has taken this step to appease the state government employees who have been demanding the restoration of the Old Pension Scheme (OPS) for a long time. The government will take into account market risks in NPS. Pension under the revised scheme will be 50% of last drawn pay plus DA. In this article we have provided you information about Maharashtra Revised New Pension Scheme, so it is necessary for you to read this article till the end.

Maharashtra Revised New Pension Scheme 2024

The Government of Maharashtra announced the adoption of an updated National Pension Scheme for State Government employees appointed after November 1, 2005, in support of all Government employees in the State. In a statement to both Houses of the Legislature, the Maharashtra CM said that if employees opt for the new pension scheme, they will get 50% of their previous salary as pension and dearness allowance and 60% of this amount as family pension and dearness allowance. Will be given.

Key Highlights Of Maharashtra Revised New Pension Scheme 2024

Name of the schemeMaharashtra Revised New Pension Scheme
Launched byMaharashtra government
Launched on1st march 2024
ObjectiveTo benefit government employees
BeneficiariesGovernment employees
BenefitNew Pension Scheme for state staff. State employees to get 50% of last salary and DA as pension.
Official WebsiteComing Soon

Benefits of Maharashtra Revised New Pension Scheme

० Under this scheme, employees will be able to choose to receive 50% pension based on their last salary and dearness allowance (DA).

० Employees are also eligible for family pension which is equal to 60% of their pension and DA.

० State government employees who started work after November 1, 2005 will get benefits under this scheme.

० For individuals who are already enrolled in NPS, Friday’s notification will be optional.

० Employees will have to take a decision once within the next six months whether to continue using the previous NPS or continue using the updated NPS.

० A directive from the state administration in February provided OPS to 26,000 public employees selected before November 2005.

Eligibility Criteria for Maharashtra Revised New Pension Scheme

० To avail the benefits of this scheme, the applicant must be a resident of Maharashtra state.

० Apart from this, mainly the applicant should be a government employee.

० Employees who choose to participate in the updated pension scheme will receive 50% of their previous salary as dearness allowance and pension, and 60% of this amount will be allocated to their families as pension and dearness allowance.

० The employees should have joined the service from 1 November 2002.

० Within the next six months, employees starting work on or after November 1, 2005, will have to decide whether to switch to the updated NPS or continue to use the current NPS.

Documents Required For Maharashtra Revised New Pension Scheme

० Applicants Aadhar Card
० Passport size Photograph
० Account number
० Mobile number
० All service documents

Application Process of Maharashtra Revised New Pension Scheme

० Go to the official website of Maharashtra Revised New Pension Scheme.

० On the home screen go to the ‘apply for New pension scheme’ option and click on it.

० A new page will open before you, enter all the required details carefully.

० Upload the necessary documents.

० Click on submit option.

० Save the application form in PDF format for later use.

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