In a big announcement ahead of assembly elections in one state and a Union Territory this year, the government has launched the Unified Pension Scheme (UPS) amid protests by several non-BJP-ruled states over the New Pension Scheme (NPS). "This scheme will benefit 23 lakh central government employees (under the National Pension Scheme)," announced Union Information and Broadcasting Minister Ashwini Vaishnaw. The new scheme will be implemented from April 1, 2025 and employees will have the option to choose between the NPS or UPS.
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