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]

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]