Amid the growing demand for the rollback of the Old Pension Scheme, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved a new assured pension scheme providing 50% of salary for those who joined the service after January 1, 2004. From the next financial year, National Pension Scheme subscribers who are government employees can opt for the Unified Pension Scheme (UPS) to avail themselves of the assured pension scheme. As the Centre has introduced the option to choose between UPS and NPS from the next financial year, here are the key differences between the two schemes.
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