The Centre is set to introduce the Unified Pension Scheme (UPS) on April 1, providing a fixed pension security to central government employees. Designed within the framework of the National Pension System (NPS), UPS aims to give a guaranteed pension, particularly beneficial for those employees seeking a stable post-retirement income. Central government employees who are … Read more
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
NPS vs OPS: The Central Pension Accounting Office has recently released updated guidelines aimed at ensuring retired employees of the National Pension System receive their pensions in a timely manner. In a memo dated March 12, 2025, the CPAO has reiterated to officials involved in processing NPS pension cases that they should adhere to the … Read more
Montek Singh Ahluwalia, the former Deputy Chairman of the Planning Commission, has said that selecting the Old Pension Scheme instead of the New Pension Scheme is a bad idea. He noted that the New Pension Scheme (NPS) is adaptable and can be adjusted to accommodate any issues that may arise. Speaking to news agency ANI, … Read more
The Union Finance Ministry has issued a directive to banks that central government pensioners should receive their pensions by the last working day of each month, with specific provisions for March payments. The ministry clarified that the notification has been issued to ensure timely disbursement of pensions and family pensions. The Ministry issued an … Read more
The Centre faced much criticism when it adopted the National Pension Scheme and gradually gave up on the Old Pension Scheme. On one hand, government employees were dissatisfied with the change in policies over National Pension Scheme (NPS), several states and opposition parties were insisting on returning to OPS to woo the voters. In a … Read more
The newest pension scheme for the government employees — Unified Pension Scheme’s primary objective is to consolidate various pension systems existing in the country into a unified framework. The initiative serves as a clear demonstration of PM Narendra Modi’s steadfast dedication to driving reform efforts that promote sustainable fiscal practices and safeguard the welfare of … Read more
कांग्रेस अध्यक्ष मल्लिकार्जुन खड़गे (Mallikarjun Kharge) ने रविवार को यूनिफाइड पेंशन स्कीम (UPS) के ऐलान के बाद केंद्र पर निशाना साधा है. खड़गे ने कटाक्ष करते हुए कहा कि “यूपीएस में यू का मतलब मोदी सरकार का यू-टर्न है.” खड़गे ने सोशल मीडिया पोस्ट में कहा, ‘लोकसभा चुनाव के बाद विपक्ष के फिर से उभरने … 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
Union Finance Minister Nirmala Sitharaman will read out the Interim Budget 2024 on February 1. Though there is a clear indication that the Centre may not declare major changes in the taxation system like last year, there is a buzz that the Cente may bring in some modifications in the Atal Pension Yojana. Government sources … Read more