UPS a new scheme, not rollback of NPS as claimed by Congress: Sitharaman

Finance Minister Nirmala Sitharaman defended the newly launched Unified Pension Scheme (UPS) against Congress accusations of misinformation, clarifying it is not a rollback but an improved pension scheme for government employees. The UPS guarantees 50 per cent of average basic pay over the last 12 months before retirement, addressing concerns over the National Pension System (NPS). The scheme requires employee contributions and aims to satisfy most government employees, with a focus on long-term benefits.