1/5 Understanding of how the scheme works

Unified Pension Scheme (UPS) was brought into operation with the view of unifying the retirement benefits by uniting different pension schemes into one scheme. It is designed to provide workers with a guaranteed and secure income at the time of their retirement. Through voluntary retirement, the scheme has clear requirements of eligibility, schemes of contributions, and payment dates. Whereas previous disjointed schemes, occasionally industry-specific, existed, UPS attempts to merge pension schemes for all industries, bestowing stability as well as clarity to retirement schemes.

2/5 Regulations of VRS under the Unified Pension Scheme

Workers of the voluntary retirement scheme under the UPS are required to meet some age and service conditions

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