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.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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