Unified Pension Scheme

The Unified Pension Scheme (UPS), introduced by the Government of India in 2024 as an optional pension scheme along with the National Pension System (NPS) for the government employees, it aims to provide a comprehensive and centralised pension system for Central government employees. The scheme is designed to consolidate various existing pension schemes, offering a more equitable and efficient approach to retirement benefits. ^{[1] [2] [3]}

Only 3 percentage of employees choosen the scheme as per data in October 25 main draw back of the scheme is after retirement pension start only in 60 years, especially effecting paramilitaries employees like BSF etc.

Background

There have been long pending demands from the Central Government employees to introduce a more comprehensive pension system. Various opposition parties and leaders have raised the issue several times in their election speeches for the reintroduction of the Old Pension Scheme (OPS). ^{[4] [5] [6]}

References

1. "Unified Pension Scheme Explained In 6 Simple Points". NDTV.com. Retrieved 2024-08-25.
2. Jigeesh, Vikas Dhoot, Jagriti Chandra & A. M. (2024-08-24). "'Unified Pension Scheme' unveiled as government backtracks on New Pension Scheme". The Hindu. ISSN   0971-751X . Retrieved 2024-08-25.
3. ""Will Benefit 23 Lakh Employees": Centre Launches Unified Pension Scheme". NDTV.com. Retrieved 2024-08-25.
4. https://www.hindustantimes.com/business/how-is-the-new-unified-pension-scheme-different-from-nps-101724511007693.html
5. "Congress gives Old Pension Scheme a miss its poll manifesto. Here's what the party said in response". Business Today. 2024-04-06. Retrieved 2024-08-25.
6. "Centre announces Unified Pension Scheme: How will UPS differ from OPS, NPS?". The Indian Express. 2024-08-24. Retrieved 2024-08-25.