On 24th Jan’25, the central govt. notifies the Unified Pension scheme option for government staff covered by NPS. The union cabinet had first approved the Unified Pension Scheme (UPS) On 24th August 2024. Till now, there were 2 options of pension – Old Pension Scheme (OPS) and New Pension Scheme (NPS), but now we haveContinue reading “Unified Pension Scheme (UPS) pension benefits, DA, DR details”
Tag Archives: NPS
Comparison of pension schemes UPS, NPS and OPS with 3 case studies
In August 2024, the union cabinet approved Unified Pension Scheme or UPS for the central government employees. Later Unified Pension Scheme or UPS may be adopted by the states and Public sector units (PSU) as well.
NPS (New pension scheme) vs NPS Vatsalya
New pension scheme (NPS) is a pension scheme launched by Govt. of India in 2004. In the NPS, any person can contribute some amount annually up to 70 years, then he or she will receive monthly pension after retirement. It is a very popular market-based scheme among working employees, businessmen and others. And NPS VatsalyaContinue reading “NPS (New pension scheme) vs NPS Vatsalya”
Comparison of Old Pension Scheme vs New Pension Scheme
Indian government employees after retirement used to get the pension under the old pension scheme, called OPS. But, from 22nd Dec 2003, New Pension Scheme called NPS came into existence and since then nothing remained same for the working employees. In every corner of India whether it is central government employees or state government employees,Continue reading “Comparison of Old Pension Scheme vs New Pension Scheme”