The Maharashtra government has officially released the rules for its revised National Pension Scheme (NPS), and the biggest news is that it’s completely optional. Employees currently under the existing NPS have until December 31, 2026, to decide if they want to switch. If you have completed 20 years of service, the revised scheme guarantees a pension equal to 50% of your last drawn salary plus dearness allowance. Even for those with at least 10 years of service, there is now a guaranteed minimum pension of ₹7,500 per month, along with a family pension set at 60% of the admissible amount.
However, choosing the revised scheme comes with specific conditions. At retirement, you’ll need to deposit 60% of your accumulated PFRDA corpus back to the government, while the remaining 40% must be used to buy an annuity. Also, if you’ve made any early withdrawals from your NPS account, you'll have to pay that back with 10% interest to get the full benefits. These rules apply not just to direct government staff, but also to those in aided schools, agricultural universities, and Zilla Parishads. It’s a major "math" moment for every state employee to see which version actually puts more money in their pocket long-term.
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