In the history of pension schemes, UPS is the latest addition. UPS is a pension scheme, however, here an employee has to contribute 10% of their basic pay and the DA (dearness allowance). The ...
Indian citizens aged between 18 and 70 years of age. After retirement, up to 60% of the corpus can be withdrawn as a lump sum amount, while the remaining 40% can be used for buying an annuity plan.