Sir,
The introduction of the Unified Pension Scheme (UPS) marks a commendable effort by the government to secure the retirement of millions of Central Government employees.
Its assured pension, family pension, and inflation indexation are significant strengths, providing much-needed financial stability to retirees.
However, the scheme’s lack of flexibility and limited investment growth potential raise concerns.
While UPS offers a predictable and stable income, it may fall short in meeting the diverse financial goals of retirees, especially those accustomed to the National Pension System’s customizable approach.
To truly serve the evolving needs of India’s workforce, the government should consider complementary reforms that introduce more flexibility and adaptability in pension planning.
A hybrid approach, combining the predictability of UPS with the growth potential of market-linked schemes, could offer a more comprehensive solution.
Vikas Mahajan
Jammu
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