CENTRAL GOVERNMENT AGAIN SHIFTED FROM NPS TO UPS, HOWEVER EMPLOYEES ARE DEMANDING OLD PENSION SCHEME AS A MEASURE OF RING SAFEGUARD FOR THE FUTURE PROSPECTS AND SECURITY OF RETURNS.

The covid-19 pandemic ruined the economic development and stability of the country and bring huse financial crises world wide where in the government was compelled to intervene the unprecedented ways to protect the health and the livelihood of the citizens of country, and many of them failed to protect their status and position because of the financial crises. As such the Government of India could not decide the pending issue of employees pension and accordingly review the case of the National pension scheme to the universal pension scheme and as an alternative to the old pension scheme for which the employees are virtually agreed, however the National pension scheme as promises retirement payouts to its employees in the lesser reduced returns and creating risk of uncertain market based assess, was not accepted by the employees and on the other hand the twenty five years of the requirement of service for full pensionary benefits under the universal pension scheme is also be coming a major disadvantage of the scheme offered by the central government to its employees of the Union Government particularly for those who joins late in the department, while potential under funding raises the concern about the future pension delays, more over the scheme only covers the Union Government employees is also a major draw back of the scheme where as, many public sector undertakings also demanding this scheme of the government of India for their security and safeguard of the future rehabilitation. More so the Universal pension scheme of the central government offered a universal frame work and its structure is not providing a ring guard guarantee cover to the employees and as a measure of the minimum guaranteed pension scheme to employees, however, if the universal pension scheme properly restructured with the design and scope of future enhancement of the salary with stable return of the regular benefits of said scheme issued by the Government of India, it may be useful for the employees of the regular establishments, working in the GOI as well as other establishments of the public sector undertakings.