About In 2024, the government has approved the Unified Pension Scheme (UPS) for Government employees that will be implemented along with the present National Pension Scheme (NPS), and will be effective from FY26. UPS has features of both old and …
What’s in the news? The Union Cabinet has approved the Unified Pension Scheme (UPS) with the following features: Assured pension: 50% of the average basic pay drawn over the last 12 months prior to superannuation for a minimum qualifying service …