Former UPS driver Jim Dopp and his wife Debbie could lose nearly $1,500 a month in income. UPS earned more than $3 billion last year. But 8,737 of its former workers could see their pension checks ...

Unified Pension Scheme (UPS): The Unified Pension Scheme introduces a contributory model where both the employees and the government contribute to the pension fund.

Details on the taxation of UPS are still awaited, but it’s expected that the pension income under UPS will be subject to income tax. The treatment of lump-sum payments is also unclear.