 "The Department of Expenditure (DoE) in the Ministry of Finance is likely to put out operational framework for implementing the unified pension scheme (UPS). This framework will outline the modalities for various scenarios, including individuals who")
The finance ministry on Monday allowed central government employees who opted for the Unified Pension Scheme (UPS) to switch back to the National Pension System (NPS) through a one-time, one-way switch facility.
According to a finance ministry notification, the option can be exercised any time up to one year before superannuation, or three months before the deemed date of retirement in case of voluntary retirement.
“It has been decided that a one-time, one-way switch facility from UPS to NPS shall be made available to all central government employees who have opted for UPS.
This switch facility may be exercised by
