SSC CHSL 2025 PYQ — Question 88

The correct answer is Option 1: August 2024.

Explanation:

• The Government of India approved the Unified Pension Scheme (UPS) for Central Government employees in August 2024. This scheme seeks to strike a balance between the National Pension System (NPS) and the Old Pension Scheme (OPS).
• Key Features of UPS:
• Assured Pension: After a minimum of 25 years of service, 50% of the average basic pay drawn during the last 12 months prior to retirement is assured as a pension.
• Assured Family Pension: In the event of an employee's death, the family will receive 60% of the pension amount.
• Assured Minimum Pension: A minimum pension of ₹10,000 per month upon retirement, following at least 10 years of service.
• Inflation Indexation: The pension will be eligible for Dearness Relief (DR) benefits, similar to the current practice under the OPS.
• Date of Implementation: This scheme will come into effect on April 1, 2025.

Comparative Study of Pension Systems (Quick Revision):
As you prepare for SSC, RRB, and Banking examinations, the following points regarding pension reforms in India are highly significant:
Old Pension Scheme (OPS): This was a 'Defined Benefit' scheme wherein the employee was not required to make any contribution.
New Pension System (NPS): Implemented from January 1, 2004, this is a 'Contributory' scheme where the pension payout depends on market returns.
Choice of Scheme (UPS): Employees will have the option to choose between the NPS and the UPS.
Important Questions for Upcoming Examinations:
Question: Under the UPS, what percentage of pension is assured after 25 years of service?
Answer: 50% of the average basic pay drawn during the last 12 months.
Question: From which date will the Unified Pension Scheme (UPS) come into effect?
Answer: April 1, 2025. Question: What is the minimum pension prescribed under UPS?
Answer: ₹10,000 per month (based on a minimum of 10 years of service).