India introduces new pension scheme for government workers, facing some union opposition.

The Indian government announced the Unified Pension Scheme (UPS) for central government employees, effective April 1, 2025. The UPS offers guaranteed pensions, inflation adjustments, and family benefits, with employees contributing 10% of their pay and the government contributing 18.5%. Despite these benefits, some employee unions are still calling for the full restoration of the previous Old Pension Scheme, which guarantees a higher pension amount post-retirement.

2 months ago
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