Politics
September 16, 2024
2 views 15 mins 0

UPS: An ‘improvement’ on NPS or a step back in pension reforms?

UPS: An ‘improvement’ on NPS or a step back in pension reforms?

On August 4, the Union Cabinet approved yet another modification to the National Pension System (NPS), the scheme applicable to 23 lakh Central government employees who joined service on January 1, 2004, or later. The NPS, which was earlier called the New Pension Scheme as it replaced the Old Pension Scheme (OPS), has also been […]

Politics
August 28, 2024
1 views 12 mins 0

UPS: A half-measure that fails to address deeper issues?

UPS: A half-measure that fails to address deeper issues?

On August 24, the Union Cabinet approved the Unified Pension Scheme (UPS), which guarantees an assured pension to government employees who joined the service after January 1, 2004, under the National Pension System. This optional scheme, which will be applicable from April 1, 2025, will benefit 23 lakh Central government employees, potentially rising to 90 […]