The Pension Fund Regulatory and Development Authority (PFRDA) has released regulations for the implementation of the Unified Pension Scheme (UPS) within the National Pension System (NPS). These updated guidelines, which will take effect on April 1, 2025, outline the qualifications and procedures for central government employees to enroll in UPS. Eligibility for UPS The regulations … Read more
Government employees who choose the Centre’s Unified Pension Scheme (UPS) introduced on August 24 can expect a significant increase in their pension payments. The government’s contribution under the UPS will rise to 18.5% from the current 14%, leading to a projected 19% increase in pensions for employees with a starting salary of Rs 50,000, according … Read more
Unified Pension System: The Narendra Modi-led government has approved a new pension scheme, the Unified Pension Scheme, which will come into effect in the next fiscal year, i.e. FY2025-26. After facing much criticism for removing the Old Pension Scheme, the NDA government has introduced the Unified Pension Scheme, which amalgamates the advantages of the previous … Read more