Rewriting retirement: A new window has opened for pension subscribers

The government has opened a one-time window for employees under the Unified Pension Scheme (UPS) to switch back to the National Pension Scheme (NPS), reshaping retirement choices for millions

Pension fund subscribers in India have got another option to feel confident about their retirement money. This week the finance ministry offered them the option to switch from the Unified Pension Scheme (UPS) to the National Pension Scheme (NPS) in their lifetime.

 

The changes will only affect central and state government employees, who number about 10 million. Beyond them, since pension is a rare privilege for India’s over 500 million workforce, these changes in the pension structure will be watched with keen interest by India’s working-age population.

 

The changes are therefore part of the renewed push from the Pension Fund