What is the special difference between OPS, NPS and UPS? It is important for job seekers to understand these

OPS is a traditional pension scheme for government employees, in which 50 percent of the employee’s last basic salary is given as pension at the time of retirement. In this scheme, employees do not have to make any contribution on their own.

Features of OPS

50% of the last basic salary and dearness allowance before retirement. Percent.

Employees do not have to contribute any money to the pension fund.

Up to Rs 20 lakh gratuity is received on retirement.

If the retired employee If death occurs, his family gets pension.

New Pension Scheme (NPS)

NPS was implemented in place of OPS, But there was a lot of controversy regarding this. In this scheme, employees have to deposit 10 percent of their basic salary and dearness allowance in the pension fund.

Things related to NPS

Investment of NPS. Share is based on the market, hence there is risk in it.

There is no provision for fixed pension after retirement.

On retirement, 40 percent of the total deposited amount can be withdrawn in lump sum. is, while 60 percent is kept for annuity.

Unified Pension Scheme (UPS)

UPS is a combination of OPS and NPS, which is offered to government employees. Has been brought for. This scheme will be implemented from April 1, 2025.

Features of UPS

50 percent of the average basic salary of the last 12 months as pension after retirement. Will be given.

Employees in UPS will have to contribute 10 percent of their salary, while the government will contribute 18.5 percent of it.

No investment is required to get pension in UPS and OPS. No Would have been.

Inflation is taken into account in UPS and OPS, whereas it was not so in NPS.

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