PM Modi-led Cabinet approves Unified Pension Scheme for government employees in major move

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In a major decision, Prime Minister Narendra Modi-led Cabinet on Saturday (August 24) approved the Unified Pension Scheme (UPS) for government employees. The move which aims to provide assured pension, family pension and assured minimum pension. Union Minister Ashwini Vaishnaw gave the information during the media briefing after the Cabinet meeting. He said that the Centre constituted a committee which held 100 meetings with several top organisations including that RBI and World Bank.