The Union finance ministry has announced the implementation of the Unified Pension Scheme (UPS) as a choice within the National Pension System (NPS) for central government employees, effective April 1, 2025. This initiative will provide them with assured retirement benefits.
The ministry’s notification dated January 24 stated that “The Unified Pension Scheme will apply to Central Government employees who are part of the National Pension System and opt for this choice within the National Pension System.”
The Pension Fund Regulatory and Development Authority (PFRDA) is expected to establish regulations for the implementation of the Unified Pension Scheme (UPS). It has been stated that the Unified Pension Scheme will become operational on April 1, 2025.
