Unified Pension Scheme (UPS) Explained | How is UPS different from NPS & OPS? | UPSC GS 3

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In this video, we provide a comprehensive explanation of the Unified Pension Scheme (UPS), focusing on how it differs from the National Pension System (NPS) and the Old Pension Scheme (OPS). We analyze the key features, benefits, and challenges of UPS, making it relevant for your UPSC GS3 preparation. This discussion is crucial for understanding India's evolving pension framework and its implications for economic and social policies. Join StudyIQ IAS as we break down these pension schemes to enhance your exam readiness.

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In this video, we explain the Unified Pension Scheme (UPS) and how it differs from NPS and OPS. It would be also helpful for UPSC GS 3 preparation, this video breaks down the key features and comparisons to help you understand pension reforms in India.

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[studyiqofficial]

Use code ‘GSLIVE’ to get highest discounts!

Batch Starting on 31st August 2024 | Daily Live Classes at 6:00 PM

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Offline Classes Starting on 10th August 2024, 8:00 AM

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UPSC IAS Live GS Foundation 2025 P2I Pratigya 2.0 English Batch
Batch Starting on 28th August 2024 | Daily Live Classes at 6:00 PM

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[kaafir.engineer]

Pension ki history btane ki jagah agar ups pe thodi taiyari karke aate to jyada achha rahta hai.
Baki ups ke bare me jitna aapne btaya hai utna har jagah tair rha hai

[ronakagarwal]

Thank you for the detailed explanation sir. Was confused before about all the schemes.

[mohanch]

Sir, NPS doesn't stand for New Pension Scheme. It's National Pension System, as renamed long time ago.

[studyiqofficial]

Note by Faculty:
Lump Sum Payment: In addition to gratuity, employees will receive a lump sum payment at retirement equivalent to 1/10th of their monthly emoluments (pay + DA) as of the retirement date for every completed six months of service. This payment will not affect the amount of the assured pension.

[RajeshKumar-mlil]

GPF means general provident fund not gross provident fund.

[manas]

Please clarify that in OPS pension is calculated on last withdrawn basic pay or last salary..

[gambheerrawat]

लगता है आप पूरी तैयारी करके नहीं आए हैं शिक्षक महोदय। एक तो आप योजनाओं के उल्टे पुलटे नाम बता रहे हैं और दूसरा आप बता रहे हैं की UPS में लास्ट drawn salary का 50% मिलेगा जबकि पूरे साल की बेसिक सैलरी का एवरेज निकालकर उसका 50% मिलेगा। और एक निवेदन है की जब भी ऐसे वीडियो बनाएं ये भी जरूर बताएं की इन नेता लोगों की पेंशन और ज्यूडिशियरी की पेंशन देश पर बोझ है की नहीं

[rakeshH_M]

You can't satisfy everyone. It is eternal truth. To me NPS is far better as it is connected to stock investment.

[BiswajitDas-envh]

What about the corpus fund withdrawal??
Can we withdraw or not ? Everyone is discussing the benefits of UPS. Noone is telling about our corpus fund which we have accumulated throughout our life and that get vanished to get this pension.

[rahuljain]

With OPS we will be burdening younger generation with higher taxes.
NPS has an option of selecting the mix of equity and bonds which can be changed every year.
Pension funds generally generate 11-12percent returns which is higher than PF.

We also get tax benefit on 50k.

Low yields in our NPS ac are entirely because of our mistakes.

NPS is basically a low cost mutual fund.

[jastipradeep]

Can Central Govt employees not contributing to NPS currently, can now freshly start contributing to OPS? Pls clarify.

[uditnarayan]

Jb tak ups ka main topic start hua video khatm😅

[chatar__patar]

All the leaders who call themselves social workers take pension along with salary, but government employees are appointed as government employees, then why should they not get OPS?

[chandankumartiwary]

Very much diff..

No ups
Only ops...

[linkankumargharei]

Still I have two doubts in my mind.
1. Suppose someone's service period is more than 30 years and his/her pension amount will be more than 50% of last basis salary, at that case what will be his/her pension amount?
2. My second query is what about the lumsum amount of 60% an employee used to draw while retirement.

[bigyanmihir]

Sir ji, ops main agar burden badh Raha hai to 15 lakh crores rupees kisi company ka maaf kar Diya gayaa, abhi MLA and MP r getting ops etc inse financial burden badh nahi Raha hai sirf employees ko ops Dene se burden badh jayega.. kya baat hai ji..

[shivshankargupta]

Firstly GPF means General Provident Fund
Second, there is a maximum limit of GPF deduction in a year is 5lac
EL is calculated on emoluments i.e., Basic Pay + DA and maximum limit of EL is 300days.
4th Pension is 50% of the Basic Pay only not on emoluments.

Under UPS scheme, Assured Pension and Family Pension will be calculated on the average og last basic pay drawn not on salary.
And under UPS, the minimum assured pension would be given to those who have completed minimum 10years of his service not for completing less than 10years service.

[SB-gyoq]

Is it applicable to defence personnel..Army Navy Airforce etc...??

[ShivamSingh-zjyd]

Sir tax ke bare me batiye how to save tax