Business
UPS vs NPS: Only 1 lakh of 23L govt employees switch to Unified Pension Scheme; request deadline extension – The Times of India
The government is considering whether to extend the September 30 deadline to switch to the UPS as barely 1 lakh out of 23 lakh government employees have opted.Several employees’ associations have written to the cabinet secretary, seeking a two-month extension to allow more staff to switch from the National Pension Scheme (NPS) to the UPS or the Unified Pension Scheme. Earlier on Monday, representatives from associations met ministry officials to present their case, as per an ET report.Senior officials from the finance, pension, and other departments held late-night discussions on Monday to consider the request, following the previous extension granted on June 30.Why are workers struggling to choose?The UPS, launched in March, is the government’s flagship pension reform, aiming to balance the market-linked NPS with the old pension system that placed it under a heavy burden, according to ET. However, uptake has been low due to concerns over financial security, a 25-year service requirement for full benefits, and a strict definition of eligible family members.Eventually…To ease these concerns, the government introduced the Central Civil Services (Implementation of the Unified Pension Scheme under the National Pension System) Rules, 2025, with several incentives. Full pension benefits are now available after 20 years of service, instead of 25, a move that particularly benefits paramilitary personnel who often retire early. The scheme also offers better financial protection for employees’ families in case of disability or death.Despite these changes, many employees are struggling to understand the new rules, especially those in remote areas. As of last week, only around one lakh staff had opted for the UPS, despite the government’s outreach across departments, the financial daily reported.In a September 25 letter, the National Council of the Joint Consultative Machinery highlighted the communication gaps and procedural delays. A substantial number of eligible employees may end up missing the UPS option, which closes on September 30, the Council wrote, requesting at least a two-month extension so staff have sufficient time to make their choice.
Business
OpenAI halts UK data centre project over energy costs and red tape
ChatGPT developer OpenAI has halted plans for a significant UK data centre project, citing high energy costs and regulatory challenges as barriers to investment.
The US technology giant had intended to establish its “Stargate” data centre initiative within a new artificial intelligence growth zone in the north-east of England.
The venture was slated for multiple sites, including Cobalt Park near Newcastle and Blyth.
However, OpenAI said the plans are now on hold, awaiting “the right conditions” to facilitate long-term infrastructure investment across the UK.
A spokesman for OpenAI said: “We see huge potential for the UK’s AI future. London is home to our largest international research hub, and we support the Government’s ambition to be an AI leader.
“AI compute is foundational to that goal – we continue to explore Stargate UK and will move forward when the right conditions such as regulation and the cost of energy enable long-term infrastructure investment.”
The reference to energy costs come at a time when prices are being pushed higher by the US and Israel’s war with Iran.
The International Monetary Fund (IMF) said in March that the UK was one of the nations particularly exposed to soaring wholesale costs because of its reliance on gas-fired power, as opposed to sources such as nuclear and renewable energy.
Data centres are powered by very large amounts of energy so are more likely to be exposed to volatile prices.
OpenAI added: “In the meantime, we are investing in talent and expanding our local presence, while also delivering on the commitments under our MOU (memorandum of understanding) with the Government to adopt frontier AI in UK public services.”
Its Stargate project aims to invest billions of dollars into AI infrastructure in the US, with funding from OpenAI, SoftBank, Oracle and MGX and partnering with tech giants including Nvidia and Microsoft.
Building it into the UK came as part of a landmark tech deal between Britain and the US, announced last September amid President Donald Trump’s second state visit.
The deal also included a 30 billion US dollar (£22.3 billion) pledge from Microsoft, the largest ever made by the company in the UK, to fund the expansion of Britain’s AI infrastructure.
Conservative MP and shadow science minister Ben Spencer said: “When global firms cite high energy costs and regulatory uncertainty as reasons to walk away, it tells you everything about the direction of travel.
“For too long, Labour have prioritised courting big tech headlines while neglecting our domestic start-ups, but also the fundamentals that actually attract investment at home.”
Business
He paid $248 in illegal tariffs for this coat. Will he ever get it back?
Importers are in line for tariff refunds. But whether everyone who paid the for the tariffs will get money back is a trickier question.
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Business
How Somerset families can get crisis support to help heat homes
Somerset councillor Heather Shearer said: “One thing the Crisis Resilience Fund wants us to do is not just support people in crisis, it also wants us to work in our community, give more strength and support for the organisations who already support our families.”
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