UPS vs NPS: Deadline to choose between Unified Pension Scheme and National Pension System prolonged; check details

The finance ministry has prolonged the deadline for central authorities staff to choose between the Unified Pension Scheme (UPS) and the National Pension System (NPS) by three months, from June 30 to September 30, 2025.The transfer comes after varied stakeholders, together with worker unions and retirees’ associations, sought extra time to assess their choices. The UPS, which got here into impact on April 1 this yr, provides an assured month-to-month pension and a lump sum payout on retirement, in contrast to the NPS which doesn’t assure mounted returns.“In view of representations received from stakeholders requesting an extension of the cut-off date, the Government of India has decided to extend the cut-off date for exercising the option for UPS by three months, i.e., up to 30 September 2025 for eligible existing employees, past retirees, and the legally wedded spouses of deceased past retirees,” the inance Ministry mentioned in a press launch issued as we speak.

Key Details:

Who can to swap to UPS?

Irrevocable Option:Once a authorities worker opts for UPS, they can’t revert to NPS. The selection is last.Deadline for brand new recruits:Newly recruited central authorities staff should choose between UPS and NPS inside 30 days of becoming a member of.Treatment of NPS Corpus:For those that swap to UPS, their present NPS corpus might be transferred to a PRAN (Permanent Retirement Account Number) account beneath UPS.What for those who missed the deadline?According to the UPS FAQs, failure to train the choice by the deadline would indicate a default continuation beneath the NPS.The authorities has additionally lately expanded advantages beneath UPS by extending gratuity eligibility to these choosing the scheme, additional enhancing its attractiveness as a post-retirement security internet.