Business
NPS To UPS: Govt Extends Deadline To Opt For Unified Pension Scheme Till November 30
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The cut-off date for opting into the UPS has been extended by two months from the earlier deadline of September 30
The move comes after a relatively low response from employees covered under the National Pension System (NPS).
The Finance Ministry on Tuesday announced an extension of the deadline for central government employees to opt for the Unified Pension Scheme (UPS) till November 30, 2025.
The move comes after a relatively low response from employees covered under the National Pension System (NPS).
In an official communication to the Pension Fund Regulatory and Development Authority (PFRDA) Chairman, the Department of Financial Services, under the Finance Ministry, said the cut-off date for opting into the UPS has been extended by two months from the earlier deadline of September 30.
The ministry explained that several recent positive changes under the UPS, such as the introduction of a switch option, benefits related to resignation and compulsory retirement, and tax exemptions, prompted requests from various stakeholders for more time to make a decision.
Therefore, the new deadline for eligible current employees, past retirees, and legally wedded spouses of deceased retirees to exercise their choice is now November 30. This extension has been approved by the Finance Minister.
The UPS was introduced as an option under the NPS starting April 1, 2025, for central government employees. It offers assured pension payouts and is available to the 23 lakh employees who joined the government after January 1, 2004, when the old pension scheme ended.
Under the UPS, employees contribute 10 per cent of their basic salary and dearness allowance, while the government contributes 18.5 per cent. This is different from the old pension scheme, where employees received 50 per cent of their last basic pay as pension without contributions.
So far, around 31,555 employees had opted for UPS by July 20, and reports suggest approximately 1 lakh employees have signed up till the September 30 deadline.
Additionally, the PFRDA has been asked to update its systems and issue necessary regulations or circulars to implement the government’s decision.
(With inputs from PTI)
The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d…Read More
The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d… Read More
September 30, 2025, 22:23 IST
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