Dr. Prashant Kumar and Dr. Madhulika Mishra

Unified Pension Scheme: Smart compromise or slippery slope back to fiscal irresponsibility?

The present regime’s introduction of the Unified Pension Scheme (UPS) in August 2024 has generated a mix of praise and criticism. As a hybrid between the Old Pension Scheme (OPS) and the New Pension Scheme (NPS), the UPS attempts to balance the demands for guaranteed pensions while addressing the fiscal...