Maharashtra Revised New Pension Scheme 2024: How to Apply

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

The Maharashtra government has taken this step to appease the government employees of the state government who were demanding the restoration of the Old Pension Scheme (OPS) for a long time. The government will take into account market risks in NPS.

The pension available under this revised new pension scheme will be 50% of the last month’s salary plus DA. Stay tuned to our article till the end to know more about this revised New Pension Scheme 2024 of Maharashtra.

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Maharashtra Revised New Pension Scheme 2024

Table of Contents

The Government of Maharashtra adopted an updated National Pension Scheme (NPS) for its state government employees on November 1, 2005. In a statement before 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 they will get 60% of this amount as family pension and dearness allowance.

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Maharashtra Revised NPS Scheme Details in Highlights

Name of the scheme	Maharashtra Revised New Pension Scheme
Launched by	Maharashtra government
Launched on	1^st March 2024
Objective	To benefit government employees
Mode	online
Beneficiaries	Government employees
Benefit	New Pension Scheme for state staff. State employees to get 50% of last salary and DA as Pension.
State	Maharashtra
Official Website	–
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Objectives of Maharashtra Revised New Pension Scheme:

राज्य शासनातील लाखो कर्मचारी-अधिकाऱ्यांच्या उज्ज्वल भविष्याच्या दृष्टीने महत्त्वाचा निर्णय. मुख्यमंत्र्यांनी दिलेला शब्द पाळला…

राष्ट्रीय निवृत्तिवेतन प्रणालीतील (एनपीएस) बाजारामधील चढ-उतारामुळे निर्माण होणारी गुंतवणूकविषयी जोखीम राज्य शासन स्वीकारेल असे जाहीर करून मुख्यमंत्री… pic.twitter.com/RD2RDy9Ziu
— CMO Maharashtra (@CMOMaharashtra) March 1, 2024

At Present there are 13.45 lakh government employees, out of which 8.27 lakh are enrolled in NPS. The state government invests about Rs 52,689 crore per year under OPS and about Rs 7,686 crore under NPS in the same period. The state government pays Rs 1.27 lakh crore as annual salary to government employees. NPS is applicable in Maharashtra from 1 April 2015.

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Benefits of Maharashtra Revised New Pension Scheme:

Employees can opt to receive 50% pension as per their last pay and dearness allowance under the Maharashtra Revised New Pension Scheme.
Employees are also eligible for family pension, which is equal to 60% of their pension and DA.
Employees who have started work after November 1, 2005 will be able to avail benefit under this scheme.
For those whose names are already enrolled in NPS, a Friday notification will be available alternatively.
Employees will have to decide once within the next six months whether they have to continue using the previous NPS or continue using the updated NPS.

Eligibility Criteria for Maharashtra Revised New Pension Scheme:

Applicants must be Native of Maharashtra state.
The applicant should not be in any government job.
The employees should have joined the service from 1 November 2002.
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.
Employees who wish to participate in this pension scheme will receive 50 percent of their previous salary as pension, and 60 percent of this amount will be given to their families as pension and dearness allowance.

Required Documents:

If you also want to apply for this Maharashtra Revised New Pension Scheme, then you will need some necessary following documents-

Aadhaar Card
Passport Size Photo
Mobile Number
Account Number
All Service Documents

Application Process of Maharashtra Revised New Pension Scheme:

If you are also interested to apply for Maharashtra Revised New Pension Scheme then you can easily apply by following the steps given below-

Step 1- First of all you go to the official website of Maharashtra Revised New Pension Scheme.

Step 2- Now the website’s home page will open in front of you. On the home page you have to click on the option of ‘Apply for New Pension Scheme’.

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Step 3- Now a new page will open in front of you, where you have to fill all the requested information carefully.

Step 4- Now you will also have to upload some necessary documents on the website.

Step 5- Now click on the submit option.

Step 6- Now download and keep the PDF format of the application form for later use.

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