The Maharashtra government on Friday decided to give the option to avail one-time ex gratia or family pension to its employees in case of their death while in service.
The decision was taken in a cabinet meeting chaired by Chief Minister Eknath Shinde here, official sources said. At present, under the National Pension System (NPS), there is a provision of ex gratia of Rs 10 lakh to the kin of a state government employee in case of death while in service. The sources said if the option of family pension is availed, ex gratia payment will be scrapped.
The cabinet decision has come at a time when state government employees are on an indefinite strike since March 14 seeking restoration of the Old Pension Scheme (OPS), which under a staffer gets a monthly pension equivalent to 50 per cent his/her last drawn salary.
The contribution-based NPS was launched in January 2004.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
)