Good news for central employees. Government’s new pension plan…
7th Pay Commssion , Rules Will Changes For Central Employees : If you are a Central Government employee, then this news may be useful for you. Actually, the Department of Pension and Pensioners Welfare has issued a notification. Under it, the rules have been notified to opt for Unified Pension Scheme (UPS) as an option under the National Pension System (NPS).
Cabinet approval on August 20- The Union Cabinet approved the launch of UPS on August 24, 2024. The Department of Financial Services had notified UPS as an option/scheme under NPS on January 24, 2025, for which employees under NPS will have to give their option. We inform you that UPS is being implemented from April 1, 2025.
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The Central Civil Services (Implementation of Integrated Pension Scheme under National Pension System) Rules, 2025 contains several rules. Some of the prominent rules are:
Enrolment under Unified Pension Scheme i.e. UPS. Option to switch from UPS to NPS one year before the date of retirement or 3 months before VRS. Contribution by employee and government. Compensation to government employees in case of delay in registration of NPS account and deposit of contributions.
Option to avail benefits under CCS (Pension) Rules or UPS Rules in case of death or disability of a Government servant during service. This also includes the effect of compulsory retirement/ dismissal from service and the effect of departmental/judicial proceedings pending at the time of retirement.
Option to avail benefits under CCS (Pension) Rules or UPS Rules in case of death or disability of a Government servant during service. This also includes the effect of compulsory retirement/ dismissal from service and the effect of departmental/judicial proceedings pending at the time of retirement .
What did the Finance Ministry say in August? It was in August that the Finance Ministry announced the launch of a one-time facility to opt for the National Pension System (NPS) from UPS.
The Finance Ministry in an office notification said that the one-time facility of switching from UPS to NPS will be made available to all central government employees who have opted for UPS. It said – those who have opted for UPS can avail this facility at any time. This option can be exercised one year before the date of retirement or three months before the estimated date of retirement in case of voluntary retirement, as applicable.
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