The Unified Pension Scheme (UPS), which provides guaranteed pension to central government employees, will start from April 1. Existing and newly recruited employees will be able to apply to join the scheme.
The Pension Fund Regulatory and Development Authority (PFRDA) issued its notification on Thursday.
The application process on the portal for central government employees will start from April 1. They will have to fill the claim form to opt for UPS. Through this, more than 23 lakh employees of the central government will get the option to choose between UPS and NPS.
The National Pension Scheme (NPS) was implemented on January 1, 2004, but there was resentment among the employees due to not getting a fixed pension in NPS on the lines of the old pension scheme. Under OPS, 50 percent of the last basic salary of their tenure was given as pension. The demand for restoration of old pension was being made by the employee organizations for a long time. In view of this, the Union Cabinet approved the proposal of UPS on 24 August 2024.
How can I join
1. Existing employees: Existing employees who joined government service after 1 January 2004 and have opted for NPS can opt for UPS. They have to fill Form A2.
2. Newly recruited employees: New employees joining the service on or after April 1, 2025 can also choose this option. They have to fill Form A1.
3. Retired Personnel: Employees who have retired and were associated with NPS can also join UPS. They have to submit Form B2 along with KYC documents.
4. On death of employee: In case of death of the employee, the legally married spouse has to submit Form B6 along with KYC documents.
5. VRS cases: The provision of 25 years of service will be applicable on taking voluntary retirement (VRS). This means that such employees will have to wait till they attain the age of 60 years.
How to apply
Enrolment and claim forms for all categories will be available online on the Protein CRA website (https://npscra.nsdl.co.in). Employees will also have the option to submit the forms physically.
These employees will not be included
According to the notification, UPS or Assured Pay option will not be available in case of removal or termination of service or resignation of the employee.
No change after
It has been clarified in the notification that employees will get the option to choose UPS under NPS. Or continue NPS without UPS option. Once the option is chosen, it cannot be changed.
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