Unified Pension Scheme notified for central govt employees: Check eligibility criteria, minimum guaranteed payout and other details
Unified Pension Scheme (UPS) as an option under the National Pension System (NPS) for Central Government employees. It aims to provide assured payouts and specific retirement benefits. Apart from basic pension these employees will also get dearness relief in line with the ones given to existing employees.
Budget with ET
Budget 2025: A CFO’s playbook for operational excellence and long-term growth
Rising Bharat may need to take center stage for India’s game-changing plans
Will Indian Railways accelerate to global standards with govt’s budgetary allocation?
The Pension Fund Regulatory and Development Authority (PFRDA) will oversee UPS regulations and provide operational guidelines. The scheme's effective date is April 1, 2025.
What is the eligibility under UPS?
Employees who retire after fulfilling certain requirements—such as superannuation, FR 56(j) retirement, or voluntary retirement after 25 years—are guaranteed benefits under the UPS. Employees who resign before fulfilling the requirements or are fired for disciplinary reasons are not eligible to get benefits under the Unified Pension Scheme, nevertheless.
Also read: Unified Pension Scheme (UPS) for central government employees approved:5 important things to know
Superannuation after 10 Years of Service
Employees are eligible for an assured payout if they retire after completing a minimum of 10 years of qualifying service, starting from their date of superannuation (official retirement age).
Retirement Under FR 56 (j):
Artificial Intelligence(AI)
Java Programming
