UPS

An Indian antitrust investigation report last year found "no evidence" that FedEx, UPS, Aramex and DHL indulged in price collusion, as alleged by a book publishers' body

Recently the central government extended the deadline for eligible employees, past retirees, and legally wedded spouses of deceased retirees to exercise their option to join the UPS till 30 November

Finance Ministry extends UPS enrolment till November 30, giving central government staff and retirees more time to weigh pension choices

The FAQs confirm that the tax incentives applicable to the National Pension System will also extend to UPS, providing certainty to government employees under the new framework

The Finance Ministry said central staff who joined service between April 1 and August 31, 2025 can now opt for UPS instead of NPS, with flexibility to return later if they wish

DHL said in a statement it operates in full compliance with all laws and is "cooperating fully with the CCI", but could not comment on specifics

Finance Minister Nirmala Sitharaman said the features of Unified Pension Scheme have been designed to ensure payment of assured payouts while also maintaining the fiscal sustainability of the fund

In a bid to promote Unified Pension Scheme, the government has made necessary changes to provide tax benefits to employees opting for UPS at par with those under National Pension System (NPS). The inclusion of UPS under the tax framework marks another step forward in the government's effort to strengthen retirement security for central government employees through transparent, flexible and tax-efficient options, the finance ministry said in a statement. "The government has decided that tax benefits as available under NPS would apply mutatis mutandis to UPS as it is an option under NPS," it said. These provisions ensure parity with the existing NPS structure and provide substantial tax relief and incentives to employees opting for the UPS. The finance ministry through a notification dated January 24, 2025 had notified introduction of the UPS as an option under NPS for the recruits to the central government civil service with effect from April 1, 2025, giving one-time option to the .

The company last year said it cut its workforce by 12,000 jobs. It expects expenses between $400 million to $600 million during 2025

Financial Services Secretary M Nagaraju on Thursday expressed hope that the Unified Pension Scheme (UPS), which promises an assured pension of 50 per cent of the average basic pay drawn over the last 12 months, may be replicated for other stakeholders under the New Pension System (NPS). Observing that NPS has emerged as a robust retirement savings mechanism in the country, he said, its growing assets under management and subscriber base is reflective of people's trust in the scheme. The government has recently introduced the UPS under NPS for central government employees. The scheme is effective from April 1. UPS is a unique contributory but defined benefit scheme that provides an assured payout of 50 per cent of the average basic pay for the last 12 months upon superannuation along with the benefit of inflation indexation through dearness relief, Nagaraju said, while speaking at the 1st International Research Conference on Pension, organised by PFRDA and IIM Ahmedabad here. "I tru

It guarantees a minimum pension of Rs 10,000 per month for employees who complete at least 10 years of government service

Enrolment and claim forms for all these categories of central government employees will be available online from April 1 on website of Protean CRA

The enrolment and claim forms for all these categories of central government employees will be available online on the Protean CRA website from April 1, 2025

The CCI's findings said the companies did not share "commercially sensitive information amongst themselves," according to the report seen by Reuters

Cabinet Secretary TV Somanathan has been holding regular meetings with key ministries and departments to ensure a smooth transition from NPS to UPS

Mothballing the lateral-entry scheme and launching the modified pension plan show how governance style can make a difference

Employees could choose the investment plan of their choice based on their contribution and 10% contribution by the government

The new modified pension scheme is better than OPS, but switching to NPS was one of the biggest reforms in recent decades and would have benefited the country in the long run

Various railway employee unions had been at the forefront of protests against the NPS and the demand for the restoration of OPS

Under the unified system, employee contributions will remain unaltered at 10% of basic pay plus dearness allowance