UPS Deadline Extended: Want to leave NPS and switch to UPS? The government has extended the deadline

UPS Pension Eligibility: The deadline for central government employees to opt for the Unified Pension Scheme has been extended. The government has extended the deadline by two months, providing relief to central government employees .

Unified Pension Scheme deadline extended: The government has given another big gift to central employees waiting for the 8th Pay Commission. The government has given central employees two months to choose the Unified Pension Scheme (UPS). In fact, many employees had demanded an extension of the deadline for joining the UPS. Keeping the employees' demand in mind, the government has extended the deadline for choosing the UPS scheme by two months.

What is the last date to choose UPS?

The deadline for opting for the Unified Pension Scheme (UPS) was originally September 30th, but at the last minute, the government extended it to November 30th. This now gives central government employees the opportunity to join the UPS until November 30th. The Finance Ministry has also issued a letter in this regard, stating that the deadline for joining the UPS has been extended by two months. Eligible individuals can now exercise their option until November 30th, 2025.

What are the benefits of choosing UPS?

Choosing the Unified Pension Scheme (UPS) offers significant benefits to central government employees after retirement. Choosing this scheme provides employees with a fixed monthly pension, which includes 50% of their average basic salary for the last 12 months.

The biggest advantage of this scheme is that the government invests more than the employee. The government contributes 18.5% of the employee's salary, while the employee only contributes 10%. Additionally, the family can receive a pension. If you work for 10 years, you will receive a minimum pension of 10,000 rupees.

How many people made the switch?

The central government stated that over 2.3 million central employees have the option to switch from NPS to UPS. However, only 100,000 employees have chosen this option so far. According to PTI, 100,000 central employees had already chosen to switch from NPS to UPS by the previous deadline of September 30. Consequently, the government has extended the deadline by two months.

PC:Mint