New Delhi, March 9 -- Central government employees face a decision that could define their retirement outcomes.

Should they remain in the National Pension System (NPS) or opt for the Unified Pension Scheme (UPS)? Our detailed study offers a clear answer.

Under realistic assumptions, UPS is a much better deal for subscribers because replicating UPS-type guaranteed pensions through NPS is very difficult.

NPS is a market-linked pension system in which the subscriber and the employer contribute a fixed share of salary into an individual account, and the retirement pension depends on how those investments perform.

UPS promises a more predictable outcome: an assured, inflation-indexed pension linked to salary. Under NPS, benefits depend on ...