Unified Pension Scheme (UPS), that assures a pension of 50% of the salary for those who joined the service after January 1, 2004, under the National Pension System (NPS). This new scheme will take effect from April 1, 2025. NPS subscribers now have the option to switch to the Unified Pension Scheme (UPS), which provides this assured pension starting from the next financial year.
The government's plan to transform NPS came against the backdrop of several non-BJP states deciding to revert to the DA-linked Old Pension Scheme (OPS) and employee organisations in some other states raising demand for the same.
Here's how UPS, NPS, and OPS will stack up;
Assured Pension:
Assured Family Pension:
Assured Minimum Pension:
Unified Pension Scheme: What it is, its benefits & features, and how it is different from NPS
Inflation Indexation:
Dearness Relief:
Lump Sum Payment at Superannuation: