UPS a new scheme, not rollback as claimed by Congress, says Finance Minister

New Delhi: Accusing Congress of spreading misinformation, Finance Minister Nirmala Sitharaman on Tuesday said the newly launched UPS is a new pension scheme and not a rollback.

“It is not a rollback… it is different from OPS (Old Pension Scheme) and NPS (National Pension System). It is clearly a new package,” she said, adding, the Unified Pension Scheme (UPS) is better and will satisfy most government employees.

UPS is tailored in such a fashion that every calculation fits and even the government is not burdened too much, she said.

She expressed hope that most of the states would adopt UPS “as it has a lot of benefits for employees”.