Unified Pension Scheme: How UPS is Different From NPS and OPS? Know Detailed Explanation

Unified Pension Scheme: The Central Government recently launched a Unified Pension Scheme (UPS) for government employees. The Central Government was constantly being asked to start the Old Pension Scheme, and the govt came up with UPS. The scheme will be implemented on 1st April 2025. The government says that UPS will take the place of NPS, benefitting the government employees. 

UPS Vs NPS Vs OPS

For UPS, at least 25 years of service is necessary. In this, at least 50% of the basic salary will be given as pension. Whereas, in NPS, there was no guarantee of pension. Talking about the Old Pension Scheme (OPS), employees who have worked for at least 20 years will be given as basic salary and a 50% guaranteed pension of the basic salary was offered. In UPS, the government contributes 18.5% and the employees contribute 10%. In NPS, the government contributes 14% and the employees contribute 10%. In the Old Pension Scheme, there is no contribution of employees, i.e., only the government contributes.