Maharashtra becomes first state to offer Unified Pension Scheme. How is it different from National Pension Scheme?
7 months ago

Maharashtra becomes first state to offer Unified Pension Scheme. How is it different from National Pension Scheme?

Firstpost  

The Eknath Shinde-led Maharashtra government is the first state in the country to offer its employees the newly-approved Unified Pension Scheme. The UPS will provide state employees a fixed pension after retirement, while returns on the National Pension Scheme are linked to the stock market The Unified Pension Scheme will give government employees who served 25 years around half their average basic pay drawn over the last year before retirement. The NPS was brought in as a replacement for the OPS – which like the UPS, capped its pension at 50 per cent of the final basic pay. As per India Today, the OPS, like the NPS, also gave employees a lumpsum payment of up to Rs 20 lakh upon retirement. The National Pension Scheme was brought in on January 1, 2004, as a replacement for the OPS – which like the UPS, capped its pension at 50 per cent of the final basic pay.

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History of this topic

Unified Pension Scheme (UPS) notified for govt employees: Eligibility, what’s new
2 days, 7 hours ago

Unified Pension Scheme (UPS) notified for govt employees: Eligibility, what’s new

Hindustan Times  

The Pension Fund Regulatory Authority of India has notified that the Unified Pension Scheme for central government employees will become operational from April 1, 2025. The UPS promises to give government employees an assured pension of 50% of their average basic pay drawn over the past 12 months, prior to superannuation. This means that central government employees in service as …

Unified Pension Scheme notified for govt employees: Date, eligibility, enrollment forms, what’s new—All you need to know
2 days, 13 hours ago

Unified Pension Scheme notified for govt employees: Date, eligibility, enrollment forms, what’s new—All you need to know

Live Mint  

The Pension Fund Regulatory Authority of India last week notified the operationalisation of the Unified Pension Scheme for central government employees, according to a PTI report. This comes after a January notification for the scheme for central government employees covered under the National Pension Scheme, it added. The UPS promises to give central and state government employees an assured pension …

Unified Pension Scheme: Who can join and how much to contribute
5 days, 19 hours ago

Unified Pension Scheme: Who can join and how much to contribute

India Today  

The Pension Fund Regulatory and Development Authority has announced new rules for the Unified Pension Scheme, which will be effective from April 1, 2025. The said rules, called “Pension Fund Regulatory and Development Authority Regulations, 2025” have been notified on March 19, 2025. This scheme will be available as an option for central government employees who are currently under the …

UPS: PFRDA notifies assured pension scheme for government employees
6 days, 1 hour ago

UPS: PFRDA notifies assured pension scheme for government employees

The Hindu  

The Pension Fund Regulatory and Development Authority on Thursday notified the operationalisation of the Unified Pension Scheme which promises an assured pension of 50% of the average basic pay drawn over the last 12 months prior to superannuation. This follows the UPS notification dated January 24, by the government for Central government employees covered under the National Pension System. These …

NPS pension processing now similar to OPS rules. Check latest guidelines
1 week, 2 days ago

NPS pension processing now similar to OPS rules. Check latest guidelines

India Today  

The Central Pension Accounting Office has released new guidelines to ensure that retirees under the National Pension System get their pensions on time. In a memo dated March 12, 2025, the CPAO reminded officials to follow the same process as the Old Pension Scheme, as per earlier instructions issued on 18 December 2023. To be more specific, it has been …

India to get Universal Pension Scheme: What is it and who will benefit?
Trending News
3 weeks, 6 days ago

India to get Universal Pension Scheme: What is it and who will benefit?

Firstpost  

The government is working on a Universal Pension Scheme that will allow people to contribute voluntarily and receive pension benefits after retirement. The government is now developing a Universal Pension Scheme, which will allow individuals to make voluntary contributions and receive pension benefits upon retirement. The government is developing a universal pension scheme that will be accessible to all citizens, …

New universal pension scheme in the works—What it means for Indians
1 month ago

New universal pension scheme in the works—What it means for Indians

Live Mint  

The government is working on a universal pension scheme that will be offered to all citizens, including those in the unorganised sector, reported NDTV on Wednesday, citing Labour Ministry sources. A key difference between the new universal pension proposal and existing schemes, such as those under the Employees' Provident Fund Organisation, is that individuals will contribute voluntarily, and the government …

Unified Pension Scheme to roll out from April 1. Check eligibility and benefits
1 month, 1 week ago

Unified Pension Scheme to roll out from April 1. Check eligibility and benefits

India Today  

The government has announced the Unified Pension Scheme, which will come into effect on April 1, 2025. The said scheme has been launched as an alternative to the National Pension System and aims to provide better pension benefits to government employees. The Unified Pension Scheme is available to those central government employees who are already enroled in the NPS and …

Unified Pension Scheme (UPS) takes effect from April 1: Know eligibility, benefits
1 month, 1 week ago

Unified Pension Scheme (UPS) takes effect from April 1: Know eligibility, benefits

Hindustan Times  

The Unified Pension Scheme, introduced by the central government as an alternative to the National Pension System, will come into effect on April 1, the government announced earlier this year. Under the UPS, government employees will contribute 10% of their basic salary, along with the dearness allowance, while the government's contribution will increase to 18.5% from 14% earlier. UPS benefits …

Unified Pension Scheme to be implemented from April 1: Who will benefit and how much?
1 month, 1 week ago

Unified Pension Scheme to be implemented from April 1: Who will benefit and how much?

India TV News  

The Central Government has introduced the Unified Pension Scheme as an alternative to the National Pension System. The demand for the Old Pension Scheme had been growing, as OPS provided retired employees 50 per cent of their last drawn salary as pension. To address this, the government introduced UPS, ensuring a fixed pension amount for central government employees. Under UPS, …

Odisha to roll out unified pension scheme soon, says CM Mohan Charan
1 month, 2 weeks ago

Odisha to roll out unified pension scheme soon, says CM Mohan Charan

New Indian Express  

BHUBANESWAR: The state government has decided to implement the Unified Pension Scheme for its employees, who are considered eligible for pension under the National Pension System. The decision was taken at the state cabinet chaired by Chief Minister Mohan Charan Majhi on Friday night. Briefing mediapersons, Chief Minister Mohan Charan Majhi on Saturday said the state cabinet has approved the …

Mohan Majhi government announces unified pension scheme for employees in Odisha
1 month, 2 weeks ago

Mohan Majhi government announces unified pension scheme for employees in Odisha

The Hindu  

The Mohan Majhi government has announced to implement Unified Pension Scheme for government employees in Odisha, aligning it with the Central Government’s policy. The Cabinet chaired by Mr. Majhi on Friday, gave approval to implementation of UPS for those employees who are considered eligible for pension under the National Pension Scheme system. to appoint committee to study Unified Pension Scheme, …

Unified Pension Scheme: Check eligibility, benefits and other details here
1 month, 3 weeks ago

Unified Pension Scheme: Check eligibility, benefits and other details here

India Today  

The central government has announced the Unified Pension Scheme, offering it as an option under the National Pension System. As per the official notification of the government released on January 24, “The Unified Pension Scheme shall be applicable to such central government employees who are covered under the National Pension System and who choose this option under the National Pension …

Centre notifies Unified Pension Scheme for government employees; check effective date, eligibility and other details
2 months ago

Centre notifies Unified Pension Scheme for government employees; check effective date, eligibility and other details

Live Mint  

The central government announced that the Unified Pension Scheme will be available as an option under the National Pension System for government employees. “The Unified Pension Scheme shall be applicable to such central government employees who are covered under the National Pension System and who choose this option under the National Pension System,” an official notification from the government said …

Centre finally notifies Unified Pension scheme option for government staff covered by NPS
2 months ago

Centre finally notifies Unified Pension scheme option for government staff covered by NPS

The Hindu  

Five months after the Centre announced a new Unified Pension Scheme with assured benefits for government employees, the Finance Ministry late on Friday notified the scheme as an option for workers covered by the National Pension System to be effective from April 1, 2025. The NPS, originally known as the New Pension Scheme, did not offer an assured pension to …

Reforms to strengthen Unified Pension Scheme
6 months, 3 weeks ago

Reforms to strengthen Unified Pension Scheme

New Indian Express  

On August 24, the Union cabinet approved the Unified Pension Scheme, a significant step towards providing government employees a secure and assured pension after retirement. Over the last few years, the opposition has highlighted the dissatisfaction of government employees with the National Pension Scheme, commonly known as the New Pension Scheme. First, assured pension of 50 percent of the employee's …

Why did the Centre alter its pension plan?
6 months, 3 weeks ago

Why did the Centre alter its pension plan?

The Hindu  

The story so far: Last weekend, the Union Cabinet signed off on a major shift in the approach for providing old age income security to Central government employees, setting the stage for a new Unified Pension Scheme to be launched on April 1, 2025. There are five major components of the UPS benefits, starting with the assurance that government employees …

NPS won't be rolled back, UPS is to improve it, no compulsion for states to adopt it: FM Nirmala Sitharaman
6 months, 3 weeks ago

NPS won't be rolled back, UPS is to improve it, no compulsion for states to adopt it: FM Nirmala Sitharaman

Hindustan Times  

The Unified Pension Scheme is “not a compulsion for states” since they are capable of making their own decisions, Finance Minister Nirmala Sitharaman said on Tuesday, August 27, 2024, but added that she hoped most states would adopt it “as it has a lot of benefits for employees.” Union Finance minister Nirmala Sitharaman hopes most states would adopt the UPS …

Unified Pension Scheme will not be rolled back, says government official in response to trade union demand
6 months, 3 weeks ago

Unified Pension Scheme will not be rolled back, says government official in response to trade union demand

Live Mint  

New Delhi: There will be no rollback of the new Unified Pension Scheme for central government employees, a senior government official said on Tuesday. This is a pension for central government employees, which is different from the pension system of the state government and the private sector.” ‘UPS an upgrade of existing NPS’ The UPS can be seen as an …

Unified Pension Scheme: How does it differ from the Old and New Pension Scheme?
6 months, 3 weeks ago

Unified Pension Scheme: How does it differ from the Old and New Pension Scheme?

The Hindu  

The story so far: Fulfilling a long-standing demand of government unions, the Centre on Saturday, unveiled a new ‘Unified Pension Scheme’ assuring government employees half their last drawn salary as a lifelong monthly benefit. The move is also a surprising rollback by the NDA government as it was the original NDA – the Atal Bihari Vajpayee government – which had …

Ecostani | Unified Pension Scheme, a moral victory for the Opposition
7 months ago

Ecostani | Unified Pension Scheme, a moral victory for the Opposition

Hindustan Times  

The Unified Pension Scheme approved by the Union government on Saturday — a mix of contribution and assured pension, to replace the New Pension Scheme, a wholly contributory mechanism — will provide some social security to government employees after retirement. The scheme, which is virtually akin to the Old Pension Scheme that NPS replaced in 2004, assures government employees 50% …

Unified pension scheme: T.N. government begins studying possible implications over UPS
7 months ago

Unified pension scheme: T.N. government begins studying possible implications over UPS

The Hindu  

Even as the Tamil Nadu government is awaiting full details of the Unified Pension Scheme, it has begun the preliminary task of studying possible implications in the event of the adoption of such a scheme in the State. As and when the government decides to implement the State-specific pension scheme, the political leadership would prefer to wait for an “opportune …

State government replaces NPS with sweeter revised pension scheme
7 months ago

State government replaces NPS with sweeter revised pension scheme

Hindustan Times  

MUMBAI: Within 24 hours of the union government’s approval of the Unified Pension Scheme to replace the New Pension Scheme for its employees, the Mahayuti government approved the UPS for around 8.3 lakh employees in a cabinet meeting on Sunday. HT Image Around 1.4 million government and semi-government employees, including Class 1 officers, Class 4 employees and teachers, had threatened …

'UPS Not A U-Turn, But An Improvement': Top Government Official Defends Unified Pension Scheme
7 months ago

'UPS Not A U-Turn, But An Improvement': Top Government Official Defends Unified Pension Scheme

News 18  

As Opposition and opposition-ruled states plan to confront and defy the Centre on the Unified Pension Scheme, the government has reached out to them again to convince them that it would make financial prudence to adopt the UPS and abandon the Old Pension Scheme. So, it would, and I hope they realise it, make sense to switch.” “In fact, experts …

Maharashtra becomes first state to implement Unified Pension Scheme | DETAILS
7 months ago

Maharashtra becomes first state to implement Unified Pension Scheme | DETAILS

India TV News  

Maharashtra cabinet: The Maharashtra government, led by Chief Minister Eknath Shinde, has become the first in the country to implement the Unified Pension Scheme for state employees. Additionally, the cabinet cleared the Rs 7,000 crore Nar-Par-Girna river linking project, which is expected to primarily benefit the northern Maharashtra districts of Nashik and Jalgaon. Other major decisions taken by Maharashtra Cabinet …

Middle path: On the Unified Pension Scheme
7 months ago

Middle path: On the Unified Pension Scheme

The Hindu  

The Centre has restored guaranteed pensions for its employees, meeting their demand halfway, and weakly trying to hold on to principles of fiscal prudence. Pension schemes around the world, whether contributory and market linked or underwritten by the exchequer, are facing a crisis, due to multiple factors, including demographic reasons. The Unified Pension Scheme, approved by the Cabinet, promises a …

Teachers’ Federation Rejects Unified Pension System
7 months ago

Teachers’ Federation Rejects Unified Pension System

Deccan Chronicle  

Hyderabad: The School Teachers Federation of India on Sunday dismissed the Centre’s newly introduced'Unified Pension System as being nothing more than a deceptive rebranding of the existing Contributory Pension Scheme. Although the new scheme guarantees 50 per cent of the salary as pension for employees who have completed 25 years of service and offers 60 per cent family pension for …

What Is Unified Pension Scheme? See What Changes It Brings
7 months ago

What Is Unified Pension Scheme? See What Changes It Brings

ABP News  

The Government of India on Saturday gave a nod to the Unified Pension Scheme for government employees. The UPS comes after the central government employees have been demanding changes in the new pension scheme. Unified Pension Scheme The latest scheme announced by the central government puts in place the provision of a fixed assured pension. New Pension Scheme All central …

Top News: New Unified Pension Scheme to Be Implemented from 2025 | ABP News
7 months ago

Top News: New Unified Pension Scheme to Be Implemented from 2025 | ABP News

ABP News  

The Modi government has introduced a significant benefit for government employees by approving the Unified Pension Scheme. This new scheme aims to ensure guaranteed pensions, family pensions, and a minimum assured pension for central employees. Under the new scheme, pensioners will receive 50% of their average basic pay from the last 12 months before retirement, provided they have served for …

Unified Pension Scheme is a U-turn That Will Have Severe Fiscal Implications
7 months ago

Unified Pension Scheme is a U-turn That Will Have Severe Fiscal Implications

The Quint  

It is important to note that the NPS was introduced by the Vajpayee government because of a "fundamental issue" associated with the OPS, that is, it was unfunded and will ultimately balloon the nation’s fiscal deficit to unsustainable levels. In 1990-91, the Centre’s pension bill was Rs 3,272 crore, and the outgo for all states put together was Rs 3,131 …

Unified Pension Scheme: Who is eligible? What's the minimum amount? Explained
7 months ago

Unified Pension Scheme: Who is eligible? What's the minimum amount? Explained

Hindustan Times  

The union cabinet on Saturday approved a Unified Pension Scheme, which will benefit approximately 23 lakh government employees and will serve as an alternative to the National Pension System. Union minister Ashwini Vaishnaw briefed the media on the central government's new Unified Pension Scheme. Prime minister Narendra Modi, who chaired the meeting, posted on X saying, “The Unified Pension Scheme …

New pension scheme to benefit central govt staff
7 months ago

New pension scheme to benefit central govt staff

Hindustan Times  

The Union cabinet led by Prime Minister Narendra Modi on Saturday approved a new pension policy for nearly 2.3 million central government employees, unveiling a framework that will give assured 50% of basic pay as monthly payout, assuaging federal staff unions that had sought guaranteed retirement benefits. Modi had set up a panel led by cabinet secretary-designate TV Somanathan, the …

Telangana Government Workers Reject Centre’s Pension Plan
7 months ago

Telangana Government Workers Reject Centre’s Pension Plan

Deccan Chronicle  

Hyderabad: In a strong show of resistance, state government employees covered under the New Pension Scheme have expressed their firm opposition to the Unified Pension Scheme approved by the Union Cabinet on Saturday. The National Movement for Old Pension Scheme secretary-general, G. Sthitaprajna, voiced the employees' dissatisfaction with the new Unified Pension Scheme announced by the Centre. "If a government …

'Almost OPS’: Centre's Unified Pension Scheme Offers Big Bonanza For Central Employees
7 months ago

'Almost OPS’: Centre's Unified Pension Scheme Offers Big Bonanza For Central Employees

News 18  

In a major decision marking almost a return to the Old Pension Scheme which had existed till 2003, the Narendra Modi government has launched the Unified Pension Scheme, conceding a major demand of central employees. The union cabinet cleared the Unified Pension Scheme on Saturday, saying, “UPS structure has elements of both OPS and NPS, and removes uncertainties of the …

Union Cabinet approves assured 50% of salary as pension under Unified Pension Scheme
7 months ago

Union Cabinet approves assured 50% of salary as pension under Unified Pension Scheme

The Hindu  

Union Cabinet on Saturday approved an assured 50% of salary as pension for 23 lakh government employees who joined service under the National Pension System. Announcing Cabinet decisions, Information and Broadcasting Minister Ashwini Vaishnaw said the Unified Pension Scheme announced that government employees will now be eligible to get 50% of the average basic pay drawn over the last 12 …

Unified Pension Scheme: Key features and benefits for retirees explained
7 months ago

Unified Pension Scheme: Key features and benefits for retirees explained

Hindustan Times  

The Union Cabinet has approved a major reform in the pension system by introducing the Unified Pension Scheme. The introduction of the Unified Pension Scheme comes in response to widespread demands from government employees for changes in the New Pension Scheme. Union minister Ashwini Vaishnaw outlined that the Unified Pension Scheme is built on five key pillar. "Following extensions consultations …

Unified Pension Scheme: 50% Assured Pension, Family Benefits, & More — 5 Salient Features For Govt Employees
7 months ago

Unified Pension Scheme: 50% Assured Pension, Family Benefits, & More — 5 Salient Features For Govt Employees

ABP News  

Unified Pension Scheme: In a significant development for government employees, the Union Cabinet on Saturday approved the Unified Pension Scheme, offering an assured 50 per cent of the salary as pension for 23 lakh government employees who joined service under the National Pension System. This amount will be the average of basic pay of 12 months before… pic.twitter.com/gKTlZCBOc2 — Press …

Maharashtra Cabinet permits OPS option for government employees hired through ads issued before November 2005
1 year, 2 months ago

Maharashtra Cabinet permits OPS option for government employees hired through ads issued before November 2005

The Hindu  

The Eknath Shinde-led Maharashtra Cabinet on Thursday cleared a proposal that offers State government employees who joined service after November 2005 on the basis of recruiting The decision comes days after government and semi-government employees struck work, demanding the restoration of the OPS. “It was decided in the Cabinet meeting today to give the old pension scheme option to those …

Will deliberate on Old Pension Scheme after panel report: Amit Shah
1 year, 4 months ago

Will deliberate on Old Pension Scheme after panel report: Amit Shah

The Hindu  

Union Home Minister Amit Shah said on Thursday that the government would deliberate on restoring the Old Pension Scheme once the committee constituted for the purpose submitted its report. Mr. Shah, while replying to a question on restoration of the OPS at a press conference in Jaipur, said, “We have constituted a committee to study the OPS. As soon as …

Mix Of OPS & NPS! How Guaranteed Pension Scheme Will Work In Andhra Pradesh?
1 year, 5 months ago

Mix Of OPS & NPS! How Guaranteed Pension Scheme Will Work In Andhra Pradesh?

News 18  

The Andhra Pradesh government is planning to implement a Guaranteed Pension System for its employees, which is a hybrid model of the Old Pension Scheme and the New Pension Scheme. Under the GPS, all state government employees will be eligible for a guaranteed monthly pension of 50% of their last drawn basic salary and dearness allowance. Old Pension Scheme The …

‘We strongly support’: Kejriwal on demands to bring back old pension scheme
1 year, 5 months ago

‘We strongly support’: Kejriwal on demands to bring back old pension scheme

Hindustan Times  

Delhi chief minister Arvind Kejriwal on Sunday expressed his support for the demands of central and state government employees to reinstate the old pension scheme, who have also staged a protest for the same. The Congress party also joined the chorus in support of the protest against the New Pension Scheme and the call to restore the old pension scheme. …

Govt Likely To Change NPS Rules For 40%-45% Assured Pension: Report
1 year, 9 months ago

Govt Likely To Change NPS Rules For 40%-45% Assured Pension: Report

ABP News  

The central government is considering revising the current market-linked National Pension Scheme to provide its employees with a minimum pension of 40 per cent to 45 per cent of their last drawn salary, reported news agency Reuters citing two government officials. Under the current National Pension Scheme, employees are required to contribute 10 per cent of their basic salary, while …

Govt mulling over assured pensions at 40-45% as some states move back to OPS
1 year, 9 months ago

Govt mulling over assured pensions at 40-45% as some states move back to OPS

Live Mint  

Amid the politics of the Old Pension Scheme vs National Pension Scheme, the Government of India officials on Wednesday said that they are mulling over some changes in the new market-linked pension scheme which will ensure employees a minimum pension of 40%-45% of their last drawn salary, a report by Reuters said. The development comes as many Opposition-ruled states in …

Should States revert to the Old Pension Scheme? | The Hindu Parley Podcast
1 year, 10 months ago

Should States revert to the Old Pension Scheme? | The Hindu Parley Podcast

The Hindu  

The National Pension Scheme was launched in 2004. While the older pension scheme offered defined benefits to all government employees without any contribution on their part, the NPS requires employees to contribute a sum throughout their working years. Almost two decades after the NPS came into effect, several States are switching back to the Old Pension Scheme. Earlier this year, …

Explained: Why govt employees are demanding restoration of Old Pension Scheme?
2 years ago

Explained: Why govt employees are demanding restoration of Old Pension Scheme?

Live Mint  

Demand for restoration of the Old Pension Scheme is growing with each passing day as many employees in Maharashtra and Haryana went on strike on Tuesday seeking its return. The former RBI governor said the old pension scheme does involve massive future outlays because of the indexation of pensions to current salaries. Old Pension Scheme is a retirement scheme approved …

Restore old pension scheme, Central Government officers urge Cabinet Secretary
2 years ago

Restore old pension scheme, Central Government officers urge Cabinet Secretary

The Hindu  

A section of officers, led by the Confederation of Central Government Employees and Workers and the All India State Government Employees Federation, has approached Cabinet Secretary Rajiv Gauba demanding that the old pension scheme be restored and the National Pension Scheme revoked. The organisations said the Defined Benefit Pension Scheme, or the OPS, for government employees was a well-built and …

Maharashtra: 17 lakh govt employees go on strike for Old Pension Scheme
2 years ago

Maharashtra: 17 lakh govt employees go on strike for Old Pension Scheme

Live Mint  

Lakhs of employees of the Maharashtra government went on strike on Tuesday seeking restoration of the Old Pension Scheme. From sanitation workers to teachers, from paramedics at hospitals to other government staff, everyone has joined the strike for the implementation of the old pension scheme on Tuesday. Under Old Pension Scheme, the pension amount is provided by the government, which …

Maharashtra CM announces committee to study implementation of Old Pension Scheme
2 years ago

Maharashtra CM announces committee to study implementation of Old Pension Scheme

The Hindu  

The Maharashtra government on Monday to set up a committee consisting of senior bureaucratic officers to look into the demand of the State government employees to implement the old pension scheme in the State. Therefore, the government is not against the principle behind the demand to implement the old pension scheme. This committee will submit the report in a timely …

Old pension scheme vs new pension scheme: A comprehensive comparison
2 years ago

Old pension scheme vs new pension scheme: A comprehensive comparison

Live Mint  

The pension system is an integral part of the economic and social security system of a country. In India, the pension system has gone through several changes over the years, from the Old Pension Scheme to the New Pension Scheme. The old pension scheme and the new pension scheme are both retirement savings plans, but they differ in terms of …

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