This image is used for representational purpose only. | Photo Credit: Getty Images/iStockphoto The Finance Ministry on Monday (June 23, 2025) extended the cut-off date for exercising options under the Unified Pension Scheme (UPS) by three months till September 30. Earlier, eligible government employees, retirees, and spouses of deceased retirees were given three-month time up … Read more
Retirement planning: The Unified Pension Scheme (UPS) is a hybrid pension plan that combines elements of defined contribution and defined benefit to provide a reliable income stream for retirees. Initially introduced by the Government on January 24, 2025, as an alternative within the National Pension System (NPS), UPS is scheduled to go into effect on … Read more
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
With barely a week left for Budget 2025, the finance ministry has officially introduced the Unified Pension Scheme (UPS) as an alternative for central government employees enrolled in the National Pension System (NPS). The government has specified that the Unified Pension Scheme (UPS) will now be available for Central Government employees who are currently participating … 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 Unified Pension Scheme (UPS), introduced by the NDA government as an alternative to the current National Pension System (NPS), has sparked significant speculation concerning its reach and pension fund. Subscribers of the NPS under the government who transition to the UPS or new entrants stand to benefit from its enhanced security in the form … Read more
Since the announcement of the Unified Pension Scheme (UPS) by the Centre, private sector employees have been pressing for an enhanced monthly pension under the Employee’s Pension Scheme (EPS). Under UPS, government employees are entitled to receive a monthly pension upon retirement, amounting to 50% of their last-drawn basic pay. The minimum pension guaranteed is … Read more
There are five major components of the UPS benefits, starting with the assurance that government employees will receive half of their average basic pay drawn over their final 12 months in service prior to retirement, as a monthly pension for life. | Photo Credit: Getty Images/iStockphoto The story so far: Last weekend, the Union Cabinet … Read more