Over 136,000 WR and CR employees to benefit from new pension scheme

28 Aug 2024 CW Team

Under the new scheme, employees currently enrolled in the National Pension Scheme (NPS) can opt for UPS, which offers an assured pension amounting to 50% of the average basic pay drawn over the last 12 months before retirement. The minimum qualifying service for this benefit has been set at 25 years.

Central Railway, with 96,039 employees, has 70,778 NPS subscribers—about 73.69% of its workforce—who stand to gain from the new scheme, according to CR General Manager Ram Karan Yadav.

Western Railway General Manager Ashok Kumar Mishra also highlighted that of WR's 96,000 employees, around 66,000, or 70%, are NPS subscribers who will benefit from UPS. He made these comments during a media interaction at Churchgate.

Officials noted that the UPS, unlike NPS, is not market-linked, which eliminates the uncertainty regarding the pension amount—an issue that has been a primary concern for employees. The government or employer contribution under UPS has been increased to 18.5%, up from the current 14% under NPS, potentially leading to a financial burden on the zonal railways.

Currently, Central Railway contributes Rs 455 million per month for all NPS-covered employees, while WR contributes Rs 420 million. Employees will have the option to choose between NPS and UPS once detailed guidelines are issued by the railway board. The UPS is scheduled for implementation from April 1, 2025, and is expected to benefit 230,000 central government employees.

(ET)

More than 136,000 employees of Central Railway (CR) and Western Railway (WR) are expected to benefit from the newly announced Unified Pension Scheme (UPS) by the Union Government, officials confirmed on Monday. The Narendra Modi-led government approved the UPS on Saturday for central government employees who joined service after January 1, 2004.Under the new scheme, employees currently enrolled in the National Pension Scheme (NPS) can opt for UPS, which offers an assured pension amounting to 50% of the average basic pay drawn over the last 12 months before retirement. The minimum qualifying service for this benefit has been set at 25 years. Central Railway, with 96,039 employees, has 70,778 NPS subscribers—about 73.69% of its workforce—who stand to gain from the new scheme, according to CR General Manager Ram Karan Yadav.Western Railway General Manager Ashok Kumar Mishra also highlighted that of WR's 96,000 employees, around 66,000, or 70%, are NPS subscribers who will benefit from UPS. He made these comments during a media interaction at Churchgate.Officials noted that the UPS, unlike NPS, is not market-linked, which eliminates the uncertainty regarding the pension amount—an issue that has been a primary concern for employees. The government or employer contribution under UPS has been increased to 18.5%, up from the current 14% under NPS, potentially leading to a financial burden on the zonal railways.Currently, Central Railway contributes Rs 455 million per month for all NPS-covered employees, while WR contributes Rs 420 million. Employees will have the option to choose between NPS and UPS once detailed guidelines are issued by the railway board. The UPS is scheduled for implementation from April 1, 2025, and is expected to benefit 230,000 central government employees.(ET)

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Infrastructure Transport

30 May 2026

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Infrastructure Urban

30 May 2026

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..