While the government may have tried to address concerns around the National Pension System through the Unified Pension Scheme, central government employees still seem wary of the new retirement option, as evidenced by the muted response seen to it.

Complexities in the UPS as well as a reduced rate of government contribution of 10% as against 14% in the NPS, a narrower definition of the family to include only the spouse and a moderate investment pattern with a lack of aggressive equity options, are some of the drawbacks being seen of the UPS. Advertisement

Employees also seem worried over a provision in the UPS under which in case of death of employee and the spouse after a few years into retirement, the entire pooled corpus will be forfeited and will not be given to the legal heirs. The

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