Unified Pension Scheme: The much-awaited Unified Pension Scheme (UPS) has come into effect from Tuesday, April 1, 2025. UPS is introduced by the Central Government as an option under the National Pension System (NPS) for Central Government employees. The scheme offers assured pay-out based on the prescribed conditions. In the notification regarding UPS by the Department of Financial Services, it stated, “The rate of full assured payout will be 50% of 12 monthly average basic pay, immediately prior to superannuation. Full assured payout is payable after a minimum 25 years of qualifying service.”
These Employees To Benefit
Central Government employees in service as of 1 April 2025, covered under National Pension System (NPS) are eligible to opt for UPS. Furthermore, a newly recruited Central Government employee joining service on or after 1 April 2025 is also eligible to opt for the scheme.
The Pension Fund Regulatory and Development Authority (PFRDA) earlier, issued regulations for Operationalisation of the Unified Pension Scheme (UPS). Through the notification, PFRDA stated that these Regulations enable enrolment of three categories of central government employees.
- An existing central government employee in service as on 1st April 2025, who is covered under NPS.
- New recruit in the central government services, who joins service on or after the 1st day of April 2025.
- A central government employee who was covered under NPS and who has superannuated or voluntarily retired or has retired under Fundamental Rules 56(j) on or before 31st March 2025 and is eligible for UPS or the legally wedded spouse in case of a subscriber who has superannuated or retired and has demised prior to exercising the option for UPS.
Unified Pension Scheme: Enrolment And Claim Forms Detail
Notably, the enrolment and claim forms for all these categories of central government employees are available online. Employees can access these forms on website of Protean CRA – https://npscra.nsdl.co.in starting today. Moreover, the employees also have the option to submit the forms physically.
Customers can download Forms A1 and A2, along with the instructions and the list of documents to be attached from the website.
Timeline To Exercise The Option Of UPS
The timeline to exercise the option of UPS under NPS by an eligible existing/retired Central Government employee is within three months from 1st April 2025.
Also Read: Unified Pension Scheme: Get Your Enrolment And Claim Forms Online – Find Direct Link Here
