Which of the following statements are correct regarding the "Unified Pension Scheme (UPS)" approved by the Union Cabinet?
- The Unified Pension Scheme (UPS) provides an assured pension of 50% of the average basic pay drawn over the last 12 months prior to superannuation for a minimum qualifying service of 25 years.
- The UPS offers an assured minimum pension of Rs 15,000 per month on superannuation after a minimum of 10 years of service.
- The UPS includes inflation indexation and dearness relief based on the 'All India Consumer Price Index for Industrial Workers (AICPI-IW)'.
1
Only statement 1 is correct.
2
Only statements 1 and 3 are correct.
3
Only statements 2 and 3 are correct.
4
All statements are correct.
5
None of the statements are correct.