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    Question

    Which of the following statements is/are correct regarding the Unified Pension Scheme (UPS)?

    • Statement 1: It offers an assured pension of 50% of the average basic pay from the last 12 months before retirement.

    • Statement 2: Family pension is assured at 80% of the employee's pension before demise.

    • Statement 3: It includes inflation indexation based on the All India Consumer Price Index for Industrial Workers.

    A Only 1 Correct Answer Incorrect Answer
    B Only 1 and 3 Correct Answer Incorrect Answer
    C Only 2 and 3 Correct Answer Incorrect Answer
    D All 1, 2, and 3 Correct Answer Incorrect Answer
    E Only 3 Correct Answer Incorrect Answer

    Solution

    Statement 1 is correct as the scheme offers an assured pension of 50%. Statement 2 is incorrect because the family pension is assured at 60%, not 80%. Statement 3 is correct as the scheme includes inflation indexation.

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