News India Live, Digital Desk: Good news for central government employees! The government has launched the Integrated Pension Scheme (UPS) for its employees on 1 April 2025. Integrated Pension Scheme (UPS) provides a certain pension after retirement, subject to certain conditions. In contrast, the National Pension System (NPS) does not guarantee a certain amount, as pension depends on the saving and annuity purchased on retirement.
Is UPS different from NPS?
Under UPS, the central government employees who have completed minimum 25 years of service will get a certain monthly pension equal to 50% of their average basic salary during the last 12 months before retirement. Unlike NPS, where the pension amount depends on the accumulated funds and the purchased annuity, UPS provides more certainty and financial security for retired government employees.
The current central government employees who want to switch to the new UPS from NPS will have to do so by June 30, 2025 within three months of its launch.
What will happen if you miss the time of choosing UPS option?
If a central government employee does not choose the option of UPS by June 30, 2025 or by an extended time-limit, it will remain under the National Pension System (NPS) and it will be assumed that he has opted to stay with it.
Integrated pension scheme eligibility
To choose the option of UPS, eligible central government employees have to submit Form A1 or Form A2 available on the protein CRA website. These forms have to be filled and submitted as part of the application process.
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