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

21 Sep 2024

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...

Congress Jabs At Modi Govt’s ‘U-Turns’ Following UPS Approval

25 Aug 2024

The Congress party has taken a sharp dig at the Modi government following the announcement of the Unified Pension Scheme (UPS), which promises a guaranteed pension of 50% of an employee’s last drawn salary. Congress President Mallikarjun Kharge led the charge, claiming that the ‘U’ in UPS stands for the...

Unified Pension Scheme To Combine Benefits Of Old And New Pension Plans

25 Aug 2024

New Delhi [India], August 25 (ANI): The Modi government has introduced the 'Unified Pension Scheme (UPS)', a new initiative that combines the benefits of the old and new pension schemes. The scheme was approved on Saturday and is set to be implemented from April 1, 2025. The decision comes amid...

Government Employees Celebrate Assured Pension Scheme

24 Aug 2024

Government employees expressed their gratitude on Saturday for the introduction of the Unified Pension Scheme (UPS), which assures pensions and thanked Prime Minister Narendra Modi for his engagement on this matter. The Prime Minister’s meeting with members of the Joint Consultative Machinery (JCM) marked the first time the JCM had...

PM Modi: Unified Pension Scheme Secures Financial Future for Government Employees

24 Aug 2024

On Saturday, Prime Minister Narendra Modi praised the Central Government’s introduction of the Unified Pension Scheme (UPS), highlighting its role in securing the financial future of government employees. Modi posted on X, expressing pride in the hard work of government employees and underscoring that the UPS ensures their dignity and...

Unified Pension Scheme Vs. NPS: Key Differences Explained

24 Aug 2024

New Delhi: The central government recently approved the Unified Pension Scheme (UPS), offering government employees an "Assured Pension and Assured Family Pension." This new scheme is set to roll out on April 1, 2025, and it promises a defined retirement benefit that contrasts sharply with the existing National Pension System...

Unified Pension Scheme Approved: What Government Employees Need To Know

24 Aug 2024

The Cabinet led by Prime Minister Narendra Modi has approved the Unified Pension Scheme (UPS) for central government employees. The announcement was made by Railway Minister Ashwini Vaishnaw during a press briefing, where he highlighted the potential benefits of the scheme, which is set to impact around 23 lakh government...