Which of the following statements is/are correct regarding the Unified Pension Scheme (UPS) recently notified by the PFRDA?

1. The Unified Pension Scheme ensures a guaranteed pension of 50% of the average basic pay drawn during the last 12 months prior to retirement, provided the employee has completed at least 25 years of service.
2. Under UPS, the government contributes 10% of the employee’s basic pay and DA, while the employee contributes 18.5%.