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Unified Pension Scheme Deadline Extended: The government has given another significant gift to central government employees awaiting the 8th Pay Commission. The government has given central government employees two months to opt for the Unified Pension Scheme (UPS). Many employees had requested an extension to the deadline for joining the UPS. Keeping the employees’ demands in mind, the government has extended the deadline for opting for the UPS scheme by two months.
What is the deadline for opting for the UPS?
The previous deadline for opting for the Unified Pension Scheme (UPS) was September 30th, but at the last minute, the government extended it to November 30th. This has given central government employees the opportunity to join the UPS by 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 choose their option by November 30th, 2025.
What are the benefits of choosing UPS?
Choosing the Unified Pension Scheme (UPS) will provide significant post-retirement benefits to central government employees. Following this scheme, employees receive a fixed monthly pension, with 50% of their average basic salary for the last 12 months paid as pension.
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%. Furthermore, the family can also receive a pension. If you work for 10 years, you will receive a minimum pension of ₹10,000.
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 opted to switch from NPS to UPS by the previous deadline of September 30. Consequently, the government has extended the deadline by two months.
SBI Cardholders Alert : Charges will change from November 1st. See the full list now!
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