– Union Cabinet approves Unified Pension Scheme (UPS) to be implemented on April 1, 2025
– UPS guarantees government employees a pension post-retirement, addressing calls for changes to NPS
– UPS offers guaranteed pension of 50% of last drawn salary for employees who joined service after January 1, 2004
– Approval seen as strategic move ahead of Assembly elections in Jammu & Kashmir, Haryana, Maharashtra, and Jharkhand
– Government to increase contribution to 18.5% under UPS, employees to contribute 10% of basic pay and DA