<h1>No Plan to Restore Old Pension Scheme; Unified Pension Scheme Offers Defined Benefits Under NPS</h1> The Government of India has confirmed that there is no proposal to restore the Old Pension Scheme (OPS) for central government employees covered under the National Pension System (NPS). The shift from OPS was due to its unsustainable fiscal burden. A Unified Pension Scheme (UPS) has been introduced as an option under NPS, providing defined retirement benefits while maintaining fiscal sustainability. UPS offers assured payouts based on service duration and salary, with additional benefits under existing pension rules in cases of death or disability during service. The government also reported an increase in household financial assets and liabilities from 2020 to 2024, with net financial positions improving. Retail loan penetration has moderately increased, asset quality remains stable, and unsecured loans constitute a small portion of advances. Net household financial savings have also risen, indicating no systemic risk to Indian banks' asset quality.