New Delhi- The Finance Ministry has issued a big order for all government employees. The ministry has said that all government employees should choose their pension scheme option before September 30.
Only then will they get the benefits of guaranteed pension. The Finance Ministry had launched this guaranteed pension scheme on April 1, 2025, and since then, this date has been extended twice. The ministry has appealed to all employees to choose the pension scheme of their choice by September 30.
In a notification issued on Thursday, the Finance Ministry urged government employees to opt for the Unified Pension Scheme (UPS) before the September 30 deadline to ensure timely processing of their applications. The government has introduced UPS as an option under the National Pension System (NPS) for central government employees from April 1, 2025. Under UPS, employees will get a fixed pension.
Retired employees will also get the benefit
The last date for eligible employees and pre-retired employees to opt for UPS under NPS is September 30, 2025. The ministry said that all eligible employees are requested to exercise their option before the last date to avoid last-minute hassles and ensure timely processing of their applications. Employees who choose to remain in NPS cannot opt for UPS after this date.
How many employees have opted so far
Till July 20, around 31,555 central government employees had opted for UPS, and the last date to join this scheme is September 30. Moreover, on August 25, the Finance Ministry allowed employees to rejoin NPS from UPS. This facility will be available once and employees will not have the option to go back to UPS. Obviously, employees who have already opted for UPS will be given the option to opt for NPS again.
You will be able to switch one year before retirement
According to the Finance Ministry, a one-time unilateral switch facility from UPS to NPS will be made available to all central government employees who have opted for UPS. Those opting for UPS can avail this facility at any time, up to one year before the date of retirement or three months before the scheduled date of retirement in case of voluntary retirement, as applicable. The government has also increased the benefits of retirement gratuity and death gratuity under UPS.
