New Delhi, Aug. 4 -- In a written reply in the Lok Sabha on Monday, Finance Minister Nirmala Sitharaman said the Unified Pension Scheme (UPS), which became operational on 1 April 2025, was introduced to provide an assured post-retirement income to eligible central government employees covered under the National Pension System (NPS).

As of 19 July 2026, 1,18,195 eligible beneficiaries had opted for the UPS. The government also said it has not yet reviewed the scheme's implementation, as it has been in force for just over a year. It added that there is currently no proposal to make changes to or replace the UPS.

"The Unified Pension Scheme (UPS) has been introduced as an option under the National Pension System (NPS) with the objective of...