Pension system revamp! New unified pension rules kick in from April 1, 2025
The Unified Pension System (UPS) is being launched for central government employees, effective from April 1st. Eligible employees can register until June 30th and receive financial security even after retirement.
FollowThe Pension Fund Regulatory and Development Authority stated this rule is effective April 1st. This system is a great option under the National Pension Scheme.
It is known that the central government is going to launch the Unified Pension System. Eligible central government employees can register for the Unified Pension Scheme (UPS) until June 30th, effective April 1st.
Those who retired, voluntarily resigned, or took retirement under Rule 56(j) on or before March 31, 2025.
Only those employees who have already registered under this system will get its benefits. All central government employees who will retire before the launch of UPS will also be covered.
Register Under the Unified Pension System, eligible employees can register and submit forms online via the Protean CRA portal.
Under this scheme, the government will provide a fixed amount of pension to employees. This system was launched to fill the gaps in OPS, so employees' financial security remains after retirement.
Employees under this scheme will receive a fixed monthly pension amount. As a result, they will get the outstanding amount and arrears calculated according to the Provident Fund interest rate. Employees will also get monthly top-ups, even after annuity withdrawals.
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