UPS Pension: There’s good news for government employees. The government is once again offering employees the opportunity to choose between the NPS and UPS pension schemes. The government has given employees a one-time opportunity to choose their pension scheme.
There is good news for government employees. The government is once again giving the employees a chance to choose between NPS and UPS pension scheme. The government has given a one-time opportunity to those employees to choose their pension scheme. This opportunity will be given to those employees who have joined the job between 1 April 2025 to 31 August 2025. These employees are currently in the National Pension System (NPS). Now these employees can choose the Unified Pension Scheme (UPS) if they wish. Employees can make this shift till 30 September 2025.
Changes can be made till 30 September
According to the Finance Ministry, employees can exercise this option until September 30, 2025. The government states that this is intended to provide employees with better financial security after retirement. Furthermore, if an employee chooses UPS now, they can switch back to NPS in the future if they wish. This move will give employees the freedom to choose the right pension plan based on their needs and convenience.
What is UPS scheme?
UPS is a fund-based pension system. Contributions from both the employee and the central government are deposited every month, and upon retirement, the employee receives a regular pension. The best part is that it provides a guaranteed monthly pension of at least ₹10,000, provided the employee has served for at least 10 years.
What is the difference between UPS and NPS?
NPS is market-based, investing in assets like stocks and bonds. Therefore, returns depend on market movements.
Pension in UPS is guaranteed and is linked to your last salary.
In NPS, pension is calculated based on the corpus deposited upon retirement. In UPS, the minimum pension is fixed at ₹10,000.
How to shift from NPS to UPS online?
For this, the government has started an easy process on the eNPS portal.
Step-by-Step Process
Visit the eNPS portal.
Select NPS to UPS Migration option.
Enter your PRAN number and date of birth.
Do OTP verification.
Read and accept the declaration and e-Sign it.
Enter OTP from Aadhaar Number/VID and verify.
If the process is successful, you will get an Acknowledgement Number and you will be able to download the form.
