New Pension Scheme vs Old Pension Scheme vs Unified Pension Scheme, their short names are NPS vs OPS vs UPS. Till now the Central Government employees used to compare OPS and NPS. The employees were swinging for a long time so that we get OPS, Old Pension Scheme. The government said that OPS will not be available but if you can choose one between UPS and NPS and 23 lakh employees will be benefited.
The interesting fact is that in the month of June Yogi ji in UP applies OPS for some employees. But the Modi government has launched UPS. Now Yogi ji is saying that UPS will also be implemented in Uttar Pradesh along with OPS and employees can choose the best option for them.
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Table of Contents
Types of Pension Schemes in India
Along with this, there are so many types of pension schemes in India. Let’s see how many types of pensions are available in one country. According to my knowledge, there are six types of pension systems for government employees:
- Old Pension,
- New Pension,
- Unified Pension,
- One Rank One Pension
- No Pension, No Pension is for Agniveer.
- Three Pensions: This scheme is only for MLAs and MPs. Assembly, Lok Sabha, Rajya Sabha, if someone is a member of all the three houses, he also gets three pensions.
So in total, six pensions we have in India.
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UPS Overview
The Center has said that this scheme will be implemented from April 2025. On OPS economists said that it was putting a burden on the government treasury.
Now the government is saying back that if the quality of NPS has been put in UPS, then in this way OPS will remain in UPS and around 23 lakh assured pension of Government of India employees has been fixed at 50% of last 12 months average of basic pay. If you have completed 25 years of service then you will get its full benefit.
If you have served less than that then you will get it as per the proportionate amount. If you serve for 10 years, you will get a pension of Rs. 10000. The amount of the pension is fixed. This is the first thing.
Secondly, inflation increases with time. It is indexed in rupees. There is also a provision to worry about.
Thirdly, if you pass away, your family will also get a family pension at the age of 60. In a way, the thinking of a welfare state is visible in this entire decision.
Finance Secretary in April 2023 A committee was formed under the chairmanship of Dr. Som Nathan to find out what reforms should be made in NPS, what kind of shortcomings were found in the pension scheme or no one knows because the report of that committee is not public.
Understanding the Best Pension Scheme
Ravish said, I suggest that one more scheme should be launched, UPS 2 i.e. Understanding Pension Schemes, under this, employees will be given one day in a year leave. To understand and choose the right pension scheme for themselves with a cool mind.
OPS Chairman Vijay Kumar Bandhu on UPS
National Movement for Old Pension Scheme Chairman Vijay Kumar Bandhu says that he was never called by the committee or the government, although he wrote letters many times. Vijay Kumar Bandhu also says that the committee was formed for the reform of NPS. Who submitted the report to the Somnath Committee?
UPS For Para Military Forces
Aam Aadmi Party says that para military forces will not get pension from UPS. UPS has been brought so that para military forces can be kept out. Look at this UPS, it is worse and worse than NPS. Now you see, OPS, NPS will continue and UPS is better than both. Amazing argument is being made.
Aam Aadmi Party MP Sanjay Singh has talked about this and has expressed his objection that under this scheme a large number of paramilitary personnel will go missing and they will not get pension. What did you do? Make a rule in this. It is given that 25 years of service is necessary to get a pension.
Now you know that in the paramilitary forces, after 20 years, maximum people retire. Now they have no job. How much will you give them when they complete 25 years? 10000 per month will be their pension. This is for the paramilitary forces of the country who protect the country, sacrifice their lives for the country, protect the Parliament House, BSF is deployed on our borders. Because they will not be able to work for 25 years, then they are not entitled to pension.
