New Pension Scheme

Only 1.37% of eligible central employees opted for UPS as of July 20

Just 31,555 employees have enrolled in the Unified Pension Scheme despite a three-month extension; Finance Ministry highlights low adoption

UPS for govt employees: How to shift to pension scheme as deadline nears

Scheme assures monthly pension based on average basic pay of last 12 months before retirement and after 25 years of service

Govt retirees under NPS with 10+ yrs can claim UPS scheme benefits

Central govt employees retired under NPS with 10+ years of service can now claim additional pension benefits under the new Unified Pension Scheme (UPS) by June 30, 2025.

PFRDA issues regulations for implementation of Unified Pension Scheme

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

LIC Smart Pension Plan? FAQs about new retirement planning scheme answered

Annuity payment can be done yearly, half-yearly, quarterly and monthly, says company

Centre notifies Unified Pension Scheme for govt employees under NPS

Launched in August, UPS strikes a balance between Old Pension Scheme (OPS) and New Pension Scheme (NPS), offering government employees a guaranteed pension, post-retirement

800+ IRS officers opted for voluntary retirement in the last decade: FinMin

Around 383 Income Tax officers and 470 Customs & Indirect Taxes officers opted for voluntary retirement between 2014 and 2024

UPS: Understanding the fiscal implications of govt's new pension scheme

The UPS is seen to be different from OPS since it is funded every year and the burden does not fall on future governments.

UPS anti-employee scheme, will implement OPS after winning: Deepender Hooda

Terming the Centre's Unified Pension Scheme (UPS) "anti-employee", Congress MP Deepender Singh Hooda asserted his party will come to power in Haryana after the October 1 assembly elections and implement the Old Pension Scheme in the state. "And the UPS is a bigger fraud with government employees than the NPS (New Pension Scheme)," Hooda said in Jhajjar on Tuesday. He attended an event where wrestler Aman Sehrawat, who won a bronze medal at the Paris Olympics, was felicitated in Birohad village in Jhajjar. The Union Cabinet approved the UPS on August 24, announcing an assured pension of 50 per cent of the basic salary for those who joined service after January 1, 2004. Employees opting for the UPS would be eligible for an assured pension after service of 25 years. Hooda claimed the Congress will form the government in Haryana after the assembly polls and fulfil government employees' demand for implementation of the Old Pension Scheme (OPS). The UPS and the NPS "are anti-employee ..

Unified Pension Scheme Explained: How UPS, NPS, and OPS affect your pension

Unified Pension Scheme is set to be implemented from April 1, 2025, and is expected to benefit around 230,000 central government employees

What is the new Unified Pension scheme and how is it different from NPS?

The Unified Pension Scheme aims to balance fiscal policy with employee benefits and combines a defined benefit pension similar to the Old Pension Scheme with the contributory nature of the NPS

Cabinet nod to assured 50% of salary as pension for central govt employees

Existing as well as future employees will also have an option of joining the New Pension Scheme (NPS) or UPS

No proposal to increase time limit to switch from NPS to OPS: Centre

There is no proposal to increase the time limit for central government employees to switch from the National Pension System (NPS) to old pension scheme, the Lok Sabha was informed on Wednesday. The NPS was introduced for central government employees in 2003. NPS is mandatory for all new recruits in the central government service from January 1, 2004 (except the armed forces), Union Minister of State for Personnel Jitendra Singh said in a written response to a question. In pursuance of court judgements, the Department of Pension and Pensioners' Welfare had issued instructions on March 3, 2023, giving a one-time option to the central government civil employee for inclusion under Central Civil Services (Pension) Rules, 1972 (now 2021) who have been appointed against a post or vacancy which was advertised or notified for recruitment/appointment prior to notification for NPS on December 22, 2003, he said. The extant procedures state that it is for the appointing authority of the post in

50% assured pension for central govt staff under NPS: Proposal explained

Some 8.7 mn central, state government employees enrolled in NPS since 2004 could benefit

After farmers, railway unions threaten protests from May 1: Here's why

Several unions of railway employees have announced that they might bring a halt to all train services from May 1 if their demand of reinstating the Old Pension Scheme is not met

Assam govt employees to intensify agitation for Old Pension Scheme

Lakhs of Assam government employees on Monday resolved to intensify their agitation demanding the restoration of the Old Pension Scheme (OPS). Leaders of opposition political parties and prominent personalities of the state have also lent their support to the demand of the government employees, claiming that adequate pension is a right of the workers. The decision was taken at a meeting organised by the All Assam Government NPS Employees Association (AAGNPSEA) and supported by the Joint Coordination Committee for OPS Assam and the Joint Forum for Restoration of OPS Assam here, a release said. The AAGNPSEA, along with other workers' bodies and unions, have been carrying out phased agitations for the restoration of OPS in the state. Among the resolutions adopted at the meeting was the demand to cancel the National Pension System (NPS) and to provide pensions to all workers, employees and teachers of the state government under the OPS. The meeting also demanded the repeal of the Pens

BMS-backed union stages protest demanding restoration of Old Pension Scheme

Restoring the OPS has been a key 'guarantee' of the Congress in the Assembly elections since the Himachal Pradesh polls in November 2022

RSS backed-Bharatiya Mazdoor Sangh asks govt to restore Old Pension Scheme

Bharatiya Mazdoor Sangh and its affiliated federations and unions have opposed NPS, labelling it a non-guaranteed, market-based contributory pension scheme

OPS vs NPS: Why did government employees hold a rally at Ramlila Maidan?

The protesters said that the party which promises to restore the old pension scheme should be voted to power in the 2024 Lok Sabha polls

Old pension scheme 4.5 times more costly than the existing NPS: RBI Study

The RBI report comes at a time when five states - Rajasthan, Chhattisgarh, Jharkhand, Punjab, and Himachal Pradesh have announced their return to the OPS for government employees