Many people start worrying about their pension while still working. To secure their future, many invest in different pension schemes so that after retirement, they won’t have to depend on others and can cover their own expenses. The Indian government is now introducing the Unified Pension Scheme (UPS).
Employees who are part of the National Pension Scheme (NPS) can now get benefit from UPS. Starting from April 1, 2025, all employees working for the central government will come under the UPS scheme.
UPS Pension Scheme: What Are the Benefits?
The Pension Fund Regulatory and Development Authority has announced the rules for the Unified Pension Scheme (UPS). These rules will come into effect from April 1, 2025. The UPS scheme is for all central government employees who are part of the National Pension System (NPS).
In this scheme, central government employees will receive 50% of the average salary of their last 12 months as a pension, after 25 years of service. Additionally, the scheme guarantees a minimum pension of ₹10,000 per month, which will be available after 10 years of service.
Form You Need To Fill
There are different forms to apply for the Unified Pension Scheme (UPS). If you are currently working in a government job, you need to fill out the A2 form. If you have recently joined the government job, you should fill out the A1 form. If you are a retired government employee, you need to fill out the B2 form. If the pensioner has passed away, their spouse must fill out the B6 form to apply.
How To Apply For The UPS Scheme?
From April 1, 2025, all central government employees can download the application for the UPS scheme from the Protean CRA website: https://npscra.nsdl.co.in. Employees can fill out the form and submit it themselves. To get benefits from the Unified Pension Scheme, employees must apply within 3 months from April 1, 2025.
New employees joining the government job must decide within 30 days whether they want to join the UPS scheme. For offline applications, employees can submit their forms through their department’s head office or the Drawing and Disbursing Officer (DDO).
