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Confused Between UPS and NPS? Things Central Govt Employees Must Know Before Sept 30 Deadline
Confused Between UPS and NPS? Things Central Govt Employees Must Know Before Sept 30 Deadline
The Indian government has introduced an option for the central government employees to choose the Unified Pension Scheme (UPS) under the National Pension System (NPS). UPS allows them to receive an assured payout after their retirement. The UPS has become operational from April 01, 2025.
The Central government employees are allowed to convert their pension regime to UPS from NPS. The last date to opt for UPS is September 30, 2025 which was earlier July 31, 2025.
If you are still confused between NPS and UPS, then we've tried to simplify this by suggesting some introspection on various aspects of both schemes. This will allow you to make a decision.
Basically, UPS is a fund-based payout system which relies on the regular and timely accumulation and investment of applicable contributions (from both the employee and the employer (the Central Government) for grant of monthly payout to the retiree.
UPS is for Central Government Employees (including civilians in Defence Services) appointed on or after 1st January 2004, who are covered under the National Pension System (NPS) and opt for UPS.
Those who are already under CCS (Pension) Rules, 2021, such as railway servants, casual/daily-rated employees, contingency staff, All India Services, contract employees, and others can't opt for it.
The employees in service have the option to opt for UPS till September 30. The new employees joining on or after April 01, 2025 are allowed to opt for UPS within 30 days of joining.
While NPS is market-linked with returns depending on equity and debt performance, UPS offers assured pension payout based on last drawn salary.
NPS is subject to market fluctuations, while UPS has low-risk, as pension is guaranteed.
NPS's amount will depend on corpus accumulated through investments. UPS, on the other hand, minimum assured pension of Rs 10,000 per month after 10 years of service.
Employer contributions up to 14 per cent and 10 per cent are exempt from the income tax. UPS also has the same provision but it additionally provides 8.5 per cent contribution from the government.
Once Employees under NPS opt for UPS, they can't go back to NPS.
The rate of full assured payout will be @50% of 12 monthly average basic pay, immediately prior to superannuation. Full assured payout is payable after a minimum 25 years of qualifying service. In case of lesser qualifying service period, proportionate payout would be admissible.
A minimum guaranteed payout of Rs. 10,000 per month shall be assured in case superannuation is after 10 years or more of qualifying service subject to timely and regular credit of contributions and no withdrawals. In cases of voluntary retirement after a minimum 25 years of qualifying service, assured payout will commence from the date on which the employee would have superannuated if he had continued in service.
The contribution of employees will be 10% of (basic pay + Dearness Allowance). The matching Central Government contribution will also be 10% of (basic pay + Dearness Allowance). Both will be credited to each employee's individual corpus.
Further, Central Government shall provide an additional contribution of an estimated 8.5% of (basic pay + Dearness Allowance) of all employees who have chosen the UPS option, to the pool corpus on an aggregate basis. The additional contribution is for supporting assured payouts under the UPS option.
Lumpsum Payment Option
A lumpsum payment will be allowed on superannuation @10% of monthly emoluments (basic pay + Dearness Allowance) for every completed six months of qualifying service. i.e.
Lump sum amount = (???? \???????? X Total Emoluments) X L
(Where L =number of six-monthly completed years of service based on the number of months for contribution to individual's pension corpus) Further, the lump sum payment will not affect the quantum of assured payout.
Who Can Apply?
Central Government employees in service as of April 1, 2025
Must be currently enrolled under NPS
Must want to shift to the new UPS scheme offering assured pension payouts
Step 1: Visit the eNPS Portal
Step 2: Enter Your Details
Step 3: OTP Verification
Step 4: Read and Accept the Declaration
Step 5: e-Sign Using Aadhaar
Step 6: Confirmation
Optional: Offline Method
Source: News18
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