6 months ago
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ARTICLE AD BOX
NEW DELHI: The govt Tuesday extended to Nov 30 the deadline for cardinal govt employees to power from National Pension System (NPS) to Unified Pension Scheme (UPS), pursuing a tepid effect by cardinal govt employees covered nether NPS.
The earlier cut-off day was Sept 30.This volition alteration much eligible existing employees, retirees and legally wedded spouses of deceased past retirees to opt for the UPS.In a missive addressed to Pension Fund Regulatory and Development Authority, concern ministry said assorted changes person been announced precocious nether UPS, including the power option, benefits connected resignation, compulsory retirement, taxation exemptions, etc. Stating that requests person been received from stakeholders that immoderate much clip request to beryllium fixed to employees to workout the enactment successful presumption of the changes, it said, “It has been decided to widen the cut-off day to workout prime for UPS by 2 months i.e. up to Nov 30, 2025."UPS was launched connected April 1, 2025 arsenic an optional strategy nether the existing NPS model for cardinal govt employees, but for the unit of equipped forces.
As per PFRDA (Operationalisation of UPS nether NPS) Regulations, 2025, eligible existing employees, past retirees and legally wedded spouse of deceased past retirees had been fixed a time-frame of 3 months to workout prime for UPS -- up to 30 June, 2025. However, based connected assorted representations received from stakeholders, this deadline was subsequently extended till Sep 30.The ministry has asked PFRDA to transportation retired indispensable changes, oregon contented a circular to springiness effect to the decision.
