Fees for Government Sector (NPS and UPS)

For government employees, opening a new PRAN will now cost ₹18 for an e-PRAN kit and ₹40 for a physical PRAN card. The annual maintenance charge will be ₹100 per account. However, no fees will be charged for accounts with zero balances. There will be no additional fees for transactions.

Atal Pension Yojana (APY) and NPS-Lite

Customers in this category will have to pay Rs 15 to open a PRAN and Rs 15 for annual maintenance. Transaction fees will also be zero.

Fees for Private Sector (NPS and NPS Vatsalya)

The private sector, like the government sector, will be charged a fee of ₹18 for an e-PRAN kit and ₹40 for a physical PRAN card to open a PRAN. There will be no transaction fee.

Annual Maintenance Charge (AMC)

AMCs are divided into slabs based on the investment amount of the clients.

– No charges on zero balance accounts.

– Rs 100 on corpus of Rs 1 to Rs 2 lakh,

₹150 for amounts from ₹2,00,001 to ₹10 lakh

₹300 for amounts from ₹10,00,001 to ₹25 lakh

₹400 for amounts from ₹25,00,001 to ₹50 lakh

– A fee of Rs 500 will be charged on corpus exceeding Rs 50 lakh.

Important Guidelines

The PFRDA clarified that this new fee structure is a ceiling. Central recordkeeping agencies (CRAs) cannot charge more than this. However, they can negotiate with companies, customers, and points of presence (PoPs) to reduce the fees.

– AMC for private sector subscribers will be slab based and will be applicable only on Tier-I corpus.

– For government sector UPS customers, this charge will only apply during the accumulation phase. Separate charges may be issued later for pension disbursements.

Additionally, if CRAs introduce new services in the future, their fees will be determined based on actual costs, subject to PFRDA approval. All CRAs must clearly display their charges on their websites and mobile apps.

– PFRDA said that this amendment has been issued under Section 14 of the PFRDA Act, 2013 and also marks the completion of the five-year price discovery cycle prescribed under the CRA regulations.

The post NPS, UPS and Atal Pension Yojana fees will change from October 1 – Check Details first appeared on Rightsofemployees.com.

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.

The post UPS Pension: Government has once again extended the deadline for choosing UPS. Check Details here first appeared on Rightsofemployees.com.

UPS vs NPS: The central government has taken a big decision related to pension, which will directly affect lakhs of employed people. If you are a central government employee and you have opted for the Unified Pension Scheme (UPS), then now you can switch to the National Pension System (NPS). The government gave this information by issuing a notification on Monday night, 25 August.

Important Update for Central Government Employees!

Government has now introduced one-time, one-way switch facility from #UnifiedPensionScheme (UPS) to National Pension System (NPS). Central government employees can switch to the UPS before September 30, 2025, for assured… pic.twitter.com/UjJJjM56S9

— PFRDA (@PFRDAOfficial) August 25, 2025

The Finance Ministry has clarified that this facility will be available only once and one-way. That is, if you switch from UPS to NPS, you will not be able to go back to UPS again. This switch will be available only for those employees who have chosen UPS.

According to government data, as of July 20, about 31,555 central employees have opted for UPS and the last date for enrollment under this scheme is September 30, 2025, which will provide guaranteed pension and many benefits. The option to switch from UPS to NPS is also available till September 30.

When can we make the switch?
Employees can choose this option up to one year before the date of retirement or three months before retirement in case of voluntary retirement. If the switch is not made during this period, the employees will remain in UPS by default.

Who will not get this facility?
If an employee has been removed, dismissed or forcibly retired, or disciplinary proceedings are pending against him, he will not be able to avail this facility.

Know the advantages and disadvantages of NPS?
Once the employees leave UPS and join NPS, they will no longer be eligible for the fixed pension and guaranteed benefits of UPS. Instead, they will be able to invest and withdraw pension as per NPS rules.

An additional 4% contribution from the government will also be added to the employee’s NPS account. Pension will be decided based on the amount deposited at the time of retirement.

Let us tell you that the government has ordered all the ministries and departments to ensure that this information is conveyed to their employees so that they can take the right decision in time.

The post UPS vs NPS : Big news for government employees! Big opportunity to switch from UPS to NPS, but for how long? Know here first appeared on Rightsofemployees.com.

The bill which was introduced earlier this year was withdrawn by the government. Now this bill will go to Rajya Sabha. Its purpose is to simplify the tax rules, reduce disputes and modernize the process. In this, many tax reliefs have been given to pensioners, investors of National Pension System (NPS) and Unified Pension Scheme (UPS).

Full tax exemption on commuted pension

Commuted pension means that the employee takes a part of his pension first as a lump sum amount. Now if this amount comes from an approved superannuation fund or a recognized pension scheme, then that amount is completely tax exempt.

This rule applies to both government and private sector employees, provided their pension plan is government-recognized. This means that you will not have to pay any income tax on the amount received as commuted pension at the time of retirement.

However, this exemption applies only to the lump sum amount received during commutation. The rest of the monthly pension is taxable under normal tax rules. This facility helps employees save tax and is financially helpful after retirement.

New rules are clear on UPS and NPS

The commuted pension portion received in the Unified Pension Scheme (UPS) will be completely tax free. Whereas, the old rules will apply in NPS i.e. on closing or exiting the scheme, 60% of the total deposit amount can be withdrawn tax free.

Retirement Benefit Account

There is a provision for Retirement Benefit Account in the new bill. These accounts will run approved funds and withdrawal from them will be tax free if the prescribed conditions are fulfilled at the time of retirement. Its purpose is to promote retirement savings in a proper manner.

Discount on family pension continues

The exemption that was already available on family pension will continue. In this, one-third of the pension or ₹ 15,000, whichever is less, will be deducted from the taxable income. This facility will be applicable on the pension received by the spouse or dependents of the deceased employee.

Rules for partial withdrawal fixed

The tax rules for partial withdrawal from pension schemes before retirement have now been clarified, which will reduce disputes and increase transparency.

According to the Finance Ministry, the purpose of these changes is to implement uniform tax rules on different pension sources, clarify the law and ensure financial security after retirement.

The post Income Tax Bill 2025: New Tax Benefits for UPS, NPS Subscribers & Pensioners first appeared on Rightsofemployees.com.

The government has extended the deadline to apply to 30 September 2025. Earlier the deadline was 31 July 2025. This means that if you are a central government employee and you want to become a part of UPS, then you can apply till 30 September.

What is Unified Pension Scheme?

The government has started the Unified Pension Scheme on the demand of employees. Currently, employees coming under the National Pension System ( NPS ) can become a part of UPS. This is voluntary. This means that employees who come under NPS can become a part of UPS if they want. But, it is not mandatory to do so. Central government employees who want to remain in NPS can do so.

What is the difference between UPS and NPS?

The central government started the NPS system for its employees from January 1, 2004. There is a big difference between NPS and UPS. NPS is a market-linked return scheme, while UPS is an assured pension scheme. In this, the employee gets pension according to his last salary. This simply means that the money of NPS is invested in shares, due to which its return can fluctuate. Because of this, there is some risk involved in it. If an employee does not want any risk in his retirement fund, then he can become a part of UPS.

Why did the government start UPS?

Lakhs of employees of the central government were unhappy with NPS. They wanted a scheme like the old pension scheme with assured returns. In view of their persistent demand, the government announced UPS last year. The pension scheme that was in force before January 1, 2004 was a fully assured pension scheme. With the introduction of UPS, the government has fulfilled the employees’ demand for an assured pension scheme.

What is the process to apply?

A person who starts working in the central government on or after April 1, 2025 can become a part of UPS. For this, he will have to apply. He can apply on the eNPS portal (https://enps.nsdl.com/eNPS/NationalPensionSystem.html). If an employee does not want to apply online, then the option to apply offline is available. For this, Form A2 will have to be used, which can be downloaded by visiting https://www.npscra.nsdl.co.in/ups.php. After that the form will have to be submitted to the nodal office.

The post UPS: Government extends Unified Pesnion scheme deadline to 30th September, know what are benefits first appeared on Rightsofemployees.com.

The Modi government has made another big announcement in the interest of central employees. Now all the tax benefits available under the National Pension System (NPS) will also be applicable on the Unified Pension Scheme (UPS). Through this, the government is trying to make UPS more attractive for central employees.

UPS is an alternative to NPS

Earlier this year, the Integrated Pension Scheme was introduced for central employees from April 1, 2025. It has been introduced as an option under the NPS. Existing government employees who are already under NPS have also been given a one-time option to switch to UPS. That is to say, it is not mandatory for central employees enrolled under NPS.

what did the government say

According to the information given by the Finance Ministry, employees choosing UPS will get all the tax benefits that are available under NPS. This includes TDS and other tax benefits, which make this scheme more financially attractive. This decision brings parity between the two schemes and gives a level playing field to employees choosing UPS instead of the traditional NPS.

Features of Integrated Pension Scheme

Unified Pension Scheme (UPS) provides a guaranteed pension. In this, the government gives 18.5 percent of the employee’s basic salary and dearness allowance. At the same time, the employee contributes 10 percent. This scheme has been introduced to replace NPS for new employees of the Central Government and as an alternative to NPS for existing employees. Talking about NPS, it is a retirement benefit scheme launched by the Government of India to provide regular income facility after retirement for all the subscribers.

Deadline to choose the option is 30 September

Recently, the government extended the deadline for employees to exercise their option under UPS by three months to September 30. Earlier, eligible employees, including existing government employees, retired employees and spouses of deceased retired employees, had to exercise their option under UPS by June 30, 2025.

Most Read Articles:-

• Retirement Age Hike: State Government Has Increased The Retirement Age of Employees By 2 Years

• IMD Alert: There Will be Heavy Rain With Thunder and Lightning in These Districts in the Next 24 hours

• Train Cancelled: Railways Has Canceled Many Trains On This Route For Next Two Months, See the Full List

• 10 Types Of Income Which Are Tax Free – Key Details inside

• Bank Holiday: Banks will remain closed for 2 days, check the reason and RBI’s bank holiday list

The post Good News: All tax benefits available under NPS will also be applicable to Unified Pension Scheme (UPS). Check Details first appeared on Rightsofemployees.com.

The Finance Ministry on Friday said that the inclusion of UPS under the tax structure is another step by the government towards strengthening retirement security for central government employees through transparent, flexible and tax-efficient options. According to the ministry, the government has decided that the tax benefits available under NPS will also be applicable to UPS, as it is an option under NPS.

Benefits will be similar to NPS

These provisions ensure parity with the existing NPS structure and provide adequate tax relief and incentives to employees opting for UPS. The Finance Ministry had notified on January 24, 2025 that UPS will be implemented as an option under NPS for employees recruited in the Central Government Civil Services from April 1, 2025. Following this notification, government employees covered under NPS have also been given the option to join under UPS.

PFRDA will manage

To implement this framework, the Pension Fund Regulatory and Development Authority (PFRDA) notified the PFRDA (Operation of Unified Pension Scheme under NPS) Rules, 2025 on March 19, 2025. UPS is applicable to those Central Government employees who are covered under NPS and opt for this option under NPS. Currently, 23 lakh Central Government employees are covered under it.

UPS was implemented last year.

The Union Cabinet led by Prime Minister Narendra Modi had approved the introduction of the UPS option on August 24, 2024. NPS was introduced for government employees after the closure of the Old Pension Scheme (OPS) from January 2004. But this system is market-based which means there is no guaranteed pension available in this scheme. Employees oppose it and to overcome this dilemma, the Guaranteed Pension UPS has been implemented.

Most Read Articles:-

• Banking rules changed from July 1, from ICICI to HDFC and Axis Bank increased the charges

• Muharram School Holiday: Is there a Muharram holiday in your state or not? Will schools remain closed on 7 July?

• 17 Countries Offering Digital Nomad Visa For Indian Passport Holders

• IMD Heavy Rain: Orange alert for heavy rain in these states till 5, 6, 7, 8, 9 July

• New rule for SIM card, fake numbers will be blocked through AI, DoT has made big preparations

The post Tax Benefit in UPS: Government has announced more benefits in UPS for central employees. Details Here first appeared on Rightsofemployees.com.

Last year, a guaranteed pension scheme Unified Pension Scheme (UPS) was started for employees in 2024, which was first implemented for central employees and now the state of Haryana has also announced to give its benefits to its employees.

The Haryana government has decided that about 2 lakh government employees in their state will be given the option to choose UPS. This decision has been taken in the Haryana Cabinet meeting chaired by Chief Minister Naib Singh Saini, which will be effective from August 1, 2025. This means that the employees of the state will be able to choose the option of UPS after August 1 and their contribution made to NPS till now will be transferred to UPS.

This historic step will benefit more than two lakh state government employees appointed on or after January 1, 2006 with guaranteed pension under the scheme

.The objective of this scheme, which is being implemented on the recommendation of the state cabinet, is to ensure assured minimum pension and family pension to government employees. A state government employee who opts for the Integrated Pension Scheme will get 50 per cent of the average basic salary received during the 12 months before retirement as pension, provided the employee has completed 25 years of service.

The pension rule in UPS depends on the service period of the employees. If an employee retires after completing 10 or more years of service, he will get a minimum guaranteed pension of Rs 10,000 per month. However, those who complete

25 years or more of service will be given 50 percent pension. In case of death of the pensioner, his family will get 60 percent of the last pension amount.

The benefit of dearness relief will be available

Dearness Relief (DR) will be applicable on both assured pension payment and family pension. Dearness relief will be calculated in the same way as dearness allowance (DA) applicable to serving employees. However, dearness relief will be payable only when pension payment starts. This means that not only the retired employee will get the benefit of dearness relief on pension, his family will also be given its benefit.

Lump sum money will also be given on retirement

At the time of retirement, the employee will also be allowed a lump sum payment, which will be 10 percent of the monthly emoluments (basic salary and DA) for every six months of his service. This means that whatever salary the employee gets in 6 months, 10 percent of it will be added for the lump sum amount. In this way, the amount will keep getting added on a half-yearly basis throughout the service period, which will be given to the employee as a lump sum at the time of retirement. This lump sum amount will not affect the assured pension payment.

How much burden on the state government

Under the current National Pension System (NPS), employees contribute 10 percent, while the state government contributes 14 percent. With the implementation of UPS, the state government’s contribution will increase to 18.5 percent. This means that the government will have to contribute 4.5 percent more than each employee’s share. In this way, the burden on the Haryana government treasury will increase by Rs 50 crore every month or Rs 600 crore annually.

The post Haryana government has announced to implement UPS from August 1. Details Here first appeared on Rightsofemployees.com.

For both UPS and NPS

The Department of Financial Services (DFS), under the Finance Ministry, wrote on the social media platform X-NPS Trust has introduced the Unified Pension Scheme Calculator. This calculator provides pension estimates to both NPS (National Pension System) and UPS subscribers. The department said that this calculator will help the subscribers to choose the right pension scheme after thinking carefully.

UPS rules applicable from April 1

Let us tell you that the rules related to UPS have come into force from April 1, 2025. These rules enable the enrollment of Central Government employees, including employees coming under the NPS of the existing Central Government in service as on April 1, 2025 and employees recruited in Central Government services on or after April 2025.

Features of UPS

This pension scheme has assured pension. The rate of full assured payment will be 50 per cent of the average basic pay of 12 months immediately before retirement and subject to minimum qualifying service of 25 years. The family will get 60 per cent of the pension of the employee immediately before his death. There is a guaranteed pension of Rs 10,000 per month on retirement after a minimum of 10 years of service. There is also a provision for lump sum payment on retirement in addition to gratuity.

Let us tell you that in UPS, employees will have to contribute 10 percent of their basic salary and dearness allowance, while the employer (Central Government) will contribute 18.5 percent. UPS or assured payment option will not be available in case of removal or dismissal or resignation of a central employee from service.

The post Good news for central employees, government launched calculator, here is the detail first appeared on Rightsofemployees.com.

Currently, central government employees come under NPS. This is a market linked pension scheme. Employees were demanding a guaranteed pension scheme for a long time. To fulfill their demand, the government announced UPS last year.

This is how you can switch

Central government employees need to go to the UPS migration page to switch to UPS . Then UPS has to be selected under NPS options. Employees can migrate through the Protean CRA portal (npscra.nsdl.co.in). There is also a facility to use the physical form for submission.

Highlights of UPS

UPS is a structured pension payout scheme. It is based on the service period of the employees. Under this, employees who have worked for 25 years or more will get 50 percent of their average basic salary of the last 12 months as pension. If an employee’s service period is more than 10 years and less than 25 years, then he will get pension in the same proportion. This means that in this scheme, the longer the period of service, the higher the pension.

Minimum 10,000 pension per month

If an employee has completed a minimum 10-year service period, he will be guaranteed a pension of at least Rs 10,000 per month. Under UPS, the employee contributes 10 per cent of his basic salary (plus DA) to the pension fund. The government will also contribute the same amount. This means that a total of 20 per cent of his salary will be invested. The default scheme introduced by the government will manage this money. But employees will also have the option to invest with private pension fund managers.

60% pension to the family on the death of the pensioner

In UPS, financial support will also be available to the wife or husband of the pensioner. This means that if the pensioner dies, his wife or husband will get 60 percent of the pension. This will ensure that the pensioner’s family will not have to face any financial difficulties. When the employee retires, he will get pension from his deposited fund. This will be like the systematic withdrawal plan of a mutual fund. If this fund is exhausted before the death of the pensioner or his wife or husband, then the pension money will be available from the common pool managed by the government. Currently UPS is only for central government employees.

Related Articles:-

Weather Alert- Disaster alert in 10 districts!, 96 hours of continuous rain and storm, hailstorm…

Liquor shops Closed: Liquor shops will be closed for 3 days from today..

Electricity Bill: Govt has announced a reduction in electricity rates by Rs 1 per unit from April 1. Know Details

The post NPS to UPS switch: Central govt employees will be able to switch from NPS to UPS, Details here first appeared on Rightsofemployees.com.

Existing and newly recruited employees can apply to join this scheme. Pension Fund Regulatory and Development Authority (PFRDA) has released its notification on Thursday.

Central government employees will be able to apply on the portal from April 1. If the employee wants to get pension under UPS, then he will have to fill the claim form to select the UPS option. If they do not want to choose UPS, then they can choose the option of NPS. Under this, 23 lakh central employees will have to choose one option between UPS and NPS.

Who can apply for UPS?

• A currently employed Central Government employee i.e. a person in service as on April 1, 2025, who is already covered under NPS.
• New employees joining the Central Government service on or after April 1, 2025. They have to opt for this within 30 days of joining.
• Any Central Government employee who was covered under NPS and has retired or has taken voluntary retirement.
• Legally married spouse who has retired or died before exercising the UPS option.

How much will be the contribution in UPS?

According to the notification, the monthly contribution of UPS will be ten percent of the basic salary and dearness allowance on it, which will be deposited in the personal PRAN of the UPS customer. Along with this, the government will also deposit the same amount in PRAN. Apart from this, the central government will also provide an additional contribution of an estimated 8.5% of (basic salary + dearness allowance) for all employees choosing the UPS option.

The post UPS notification released… Apply from 1st April, know who has to fill which form first appeared on Rightsofemployees.com.

Under the scheme, there is a provision to give 50 percent of the average basic salary received in the 12 months before retirement as a guaranteed pension. This notification follows the UPS notification issued by the government on January 24, 2025 for central government employees covered under the National Pension System (NPS).
UPS rules will be applicable from 1 April

PFRDA said in a statement that the rules related to UPS will come into force from April 1, 2025. These rules enable the enrollment of Central Government employees, including employees coming under NPS of existing Central Government in service as on April 1, 2025 and employees recruited in Central Government services on or after April 2025. The enrollment and claim forms for all these categories of Central Government employees will be available online on the website of Protein CRA from April 1, 2025.

Employees also have the option of submitting the form physically. According to the notification, the UPS or assured pay option will not be available in case the employee is removed or terminated from service or resigns. The notification said the rate of full assured pay will be 50 per cent of the average basic pay of 12 months immediately preceding retirement and subject to a minimum qualifying service of 25 years.

There will be an option to choose UPS and NPS

The notification will give 23 lakh government employees the option to choose between UPS and NPS. NPS came into effect on January 1, 2004. The Union Cabinet had approved the introduction of UPS on August 24, 2024. Under the Old Pension Scheme (OPS) effective before January 2004, employees used to get 50 per cent of their last basic salary of their tenure as pension.

Unlike OPS, UPS is contributory in nature. Employees have to contribute 10 per cent of their basic salary and dearness allowance, while the employer (central government) contributes 18.5 per cent. However, the final payout depends on the market returns on the funds, which are mostly invested in government bonds.

Related Articles:-

Big step of Delhi government: Overage vehicles will not get fuel from petrol pumps from April 1

Rain Alert: There will be heavy rains with thunderstorms in these states

Aadhar card update rules: THESE Mistakes in Aadhaar Card will not be Updated Online

The post UPS: New notification of pension scheme released, form will have to be filled from April 1 first appeared on Rightsofemployees.com.

New Delhi: The central government had announced the Unified Pension Scheme (UPS) in the beginning of the year 2025. During this, the central government had said that this pension scheme will be implemented from the beginning of the next financial year i.e. from April 1. This scheme has been started as an alternative to the National Pension Scheme for central employees. Under this, government employees will be given 50 percent of their last salary as pension.

UPS was started after the demand for old pension scheme

Actually, the Unified Pension Scheme (UPS) has been started after a long-standing demand of the employees, who were appealing for the restoration of the Old Pension Scheme (OPS). Let us tell you that under the old pension scheme, central employees used to get 50 percent of their last salary as pension. Now, similar benefits will be provided to the employees through UPS as well.

Government will also contribute

Under this scheme, government employees will have to contribute 10 percent of their basic salary and dearness allowance (DA), while the government will also contribute 14 percent. Note that now it has been increased to 18.5 percent. Apart from this, there will also be a separate pool fund under UPS, in which the government will contribute an additional 8.5 percent. In such a situation, 50 percent of the last salary of central employees will be given as pension.

Employees will get these benefits

Let us tell you that under this scheme, employees who complete 10 to 25 years of service will be given prorated pension. At the same time, if unfortunately an employee dies, 60 percent of the pension will be paid to his family. Apart from this, on retirement of the employee, he gets a lump sum amount along with gratuity. It is worth noting that employees who have completed at least 10 years of their job will be given a minimum of Rs 10,000 every month as pension.

Even retired employees can take advantage of UPS before it is implemented

It is worth noting that employees who have completed at least 10 years of service will be given a minimum of Rs 10,000 as pension every month. At the same time, employees who want to retire after completing 25 years of service will be eligible for pension payment starting from the estimated retirement age. Apart from this, employees who have retired before the implementation of this scheme can also avail its benefits. They will be paid pension along with the arrears of the previous period by calculating it on the basis of Public Provident Fund (PFF) interest rates.

Related Articles:-

• UPI Transaction Rule: Key Major Changes in UPI Transactions From April 1
• Bank Holiday Alert: All banks are going to remain closed tomorrow, check all details
• Special FD Schemes: SBI and IDBI FDs are giving highest interest, invest by March 31 for more benefits
• Aadhar Card Rules Change: Key Benefits of Aadhaar Face Authentication
• Top 10 Countries That Accept Indian Driving License

The post New pension scheme for central government employees starting from April 1 – Key Benefits & More first appeared on Rightsofemployees.com.

The guidelines will be made by December. Employees will have to choose either NPS or UPS by March 31. UPS will be implemented from April 1, 2025. Employees will be able to invest in the entire pension fund in UPS. A lump sum amount will not be received on retirement. The government will increase its contribution. Compared to NPS, UPS will provide more pension, but not as much as the Old Pension Scheme (OPS).

The central government has introduced a new pension option for employees – Unified Pension Scheme (UPS). It will work as an alternative to the existing National Pension System (NPS). The aim of this new scheme is to provide better financial security to employees after retirement.

Till when will we have the option to choose?

The draft of UPS is being prepared, on the basis of which the final guideline will be made. This guideline is expected to be ready by December. After this, employees will have to choose either NPS or UPS by March 31. The new scheme UPS will come into effect from April 1, 2025.

What makes the new scheme special?

A special feature of UPS is that employees will get the option to invest 100% of the amount deposited in their fund. In NPS, employees can invest up to 50% of the amount through 12 service providers suggested by the government.

Central employees in UPS will not have the option of withdrawing a lump sum amount at the time of retirement. That is, the entire amount deposited in their fund will be used to make pension. In NPS, the employee gets 60% of the amount at the time of retirement. The remaining 40% amount is used to make pension.

The government will also increase its contribution in UPS. The government contributes 14% in NPS. Whereas in UPS it will increase to 18.50%. The employee’s contribution will remain 10% only. In this way, a total of 24% amount is deposited in NPS. Whereas in UPS it will increase to 28.50%.

Who do experts say is better?

However, only 20% of the amount will go to the pension fund. The remaining 8.50% will be deposited in a separate pool. This amount will be used if there is a 50% reduction in the employee’s pension at the time of his retirement. This will ensure that the employee gets at least 50% of his last salary as pension.

Experts believe that UPS is better than NPS as a pension option. In UPS the pension amount can increase. Whereas in NPS it is uncertain. However, it is not as good as the Old Pension Scheme (OPS).

When to use 8.50% pool amount in UPS?

If the pension generated from the amount deposited in the annuity is less than 50% of the employee’s last salary, then this pool amount will be used. For example, if the last salary of an employee is Rs 1 lakh and the pension generated from the annuity is Rs 46,000, then the remaining Rs 4,000 will be given from the pool fund.

The post New pension scheme: Central government is bringing a new pension scheme for employees, Know every single thing first appeared on Rightsofemployees.com.

In the guideline issued by the Ministry of Personnel, it has been said that the payment rules have been changed after the death of the NPS account holder or after he is removed from service.

The pension rules of government employees have been changed once again. It has not been even a month since the Unified Pension System (UPS) was implemented that a major change has been made in the rules of the New Pension Scheme (NPS). The Pension and Pensioners Welfare Department has issued a new guideline regarding NPS on Wednesday. This guideline has been issued regarding the rules of Central Civil Services (after the implementation of NPS) 2021.

This department, which comes under the Ministry of Personnel, has said in its guideline that this change has been made to bring more clarity regarding the refund of NPS contribution amount to government employees and their beneficiaries. Let us tell you that NPS was implemented in the year 2004 and since then its rules have been changed continuously. In the recent guideline, 6 rules related to NPS have been changed.

6 rules have been changed.

Amount will go to government account: The guideline states that under the Central Civil Service (Pension) Rules, 1972, if an NPS account holder dies or is declared unfit or disabled and is removed from the job, then in this case the contribution made by the government and the return received on it will go back to the government account.

The remaining money will be refunded: It is clearly stated in the guidelines that in such a situation, the remaining pension corpus will be given to the employee or his nominee in lump sum. The rules issued by PFRDA in 2015 will be followed for refunding the money.

Earlier relief will be adjusted: After the implementation of NPS in the year 2004, a rule was made in 2009 that under the CCS Pension Rule, if any relief has been given earlier to save the beneficiaries of the employee from any trouble, then it will be adjusted from its amount before making the final payment of NPS.

The entire money will go to the government account: The guideline states that as per the regulation issued in 2015, if after the death of the employee, his beneficiaries have already taken the benefit under the CCS Pension Rule, then the entire amount of contribution made by the employee and the government and its return will also go back to the government account.

For how long will the interest be calculated: The guidelines clarify that the return on the corpus of an employee after his death will be calculated based on the interest rate of PPF. This interest will be paid only for the period which elapses between the death of the employee and the transfer of the pension corpus i.e. the fund to their beneficiaries.

Money will have to be returned with interest: If all the benefits have already been given as per CCS rules and in such a situation, if the government contribution money has not come into the government account, then this money will have to be returned to the government along with interest from NPS.

Related Articles:-

UPI service may soon be started on 50 new payment apps in the country

PhonePe is offering a Firecracker Insurance plan of Rs 25,000 for just Rs 9

Tata Group will provide 5 lakh jobs, most jobs will be provided in these sectors

The post NPS Rule Change: Govt has once again changed the pension rules for govt employees first appeared on Rightsofemployees.com.

Regarding this, Shiv Gopal Mishra said, not only railway employees but 23 central employees will get the benefit of UPS (UPS Benefits for Employees). Eight lakh railway employees are also included in this.

Difference between OPS and NPS

The basic difference between the old pension scheme and the new pension scheme is that OPS was non-contributory and NPS is contributory. In this, 10 percent of the employee’s contribution will also be deducted, this was deducted earlier as well, but it used to be returned with interest.

He further said that the government has changed the policy and the way the policy has been changed, many people are satisfied that at least they will not be forced to ask for money at the time of retirement and will not have to beg in front of anyone. They will be able to manage their living through pension.

Now employees will get assured pension

Shiv Gopal Mishra said that the pension being given earlier was not in the interest of government employees. In this, people were being given Rs 800, 1200 and 1500 in the name of pension. But now the employees will be given a guaranteed pension. They will also be given dearness relief. The provisions brought in OPS are going to give relief to the employees.

He said that there was a discussion with Prime Minister Narendra Modi on this issue. He reiterated the resolve to develop India. We have also asked for full cooperation of the employees in achieving this goal.

Also Read:- SEBI is ready to ease the conditions for registration of investment advisors

Let us tell you that about 23 lakh employees of the Central Government will benefit from this scheme. State governments will also be given the option to choose the Integrated Pension Scheme. If the state governments opt for UPS, the number of beneficiaries will be around 90 lakh.

According to the government, the arrears will cost Rs 800 crore. The annual cost escalation in the first year will be around Rs 6,250 crore. This scheme will be effective from April 1, 2025.

You will get a chance to choose either UPS or NPS

Central government employees will be given the option to choose between NPS and UPS. Central government employees who choose NPS will also be given the option to switch to UPS.

Related Articles:- 

GST return cannot be filed without a valid bank account

New rules are being implemented for PPF, Sukanya Samriddhi accounts from October 1

Citizens complaints Deadline: Officers will settle people’s complaints within 21 days, new order issued

The post New Pension: 8 lakh railway employees will get the benefit of UPS, Know How? first appeared on Rightsofemployees.com.

8th Pay Commission: The Government of India has implemented the Unified Pension Scheme in the country from April 1, 2025. Along with this, the 8th Pay Commission can also be implemented from January 1, 2026. A lot is going to change with the new pay commission and the new pension system. Not only the salary of government employees but also their pension will see big changes. As expected, the salary of Level 1 in the new Pay Commission can be Rs 34,560 and Level 18 can be Rs 4.8 lakh. Today we will try to understand here how the Pay Commission will affect UPS.

50% pension of salary for those who work for 25 years

The Government of India implemented the New Pension Scheme in the year 2004. Since then, employees have been demanding the Old Pension Scheme. In OPS, employees did not have to contribute anything from their salary for pension. In NPS, they have to pay 10 percent of their basic pay every month for pension. In this, the government contributes 14 percent. The whole dispute was about this contribution and fixed pension. Now those who have worked for 25 years in UPS will be given 50 percent of the salary of the last 12 months as pension.

The term of the 7th Pay Commission is ending on December 31, 2025

UPS will be implemented from the next financial year. Employees included in it will start getting its benefits from 2029. To get half the pension of the salary, you will have to work for 25 years. Employees who retire before this will be given the benefit of UPS on the basis of years of service. To get a minimum pension of Rs 10,000, you will have to work for at least 10 years. On the other hand, the term of the 7th Pay Commission is ending on December 31, 2025. The government implements a new pay commission every 10 years.

Also Read- GST Update: GST taxpayers should do this work before 1st September, otherwise you will not be able to file GSTR-1

The fitment factor in the 8th Pay Commission is likely to be 1.92

Many media reports have claimed that the fitment factor in the 8th pay commission can be made 1.92. Due to this, the minimum salary can increase from the current Rs 18,000 to Rs 34,560. Apart from this, the maximum salary will also increase from Rs 2.5 lakh to Rs 4.8 lakh.

Minimum pension will be Rs 20,736 and maximum pension will be Rs 2,88,000

According to a report by Financial Express, the first batch of people recruited in 2004 will complete the 25-year retirement period by 2029. If the 8th Pay Commission is implemented on time, then at the rate of 4% dearness allowance (DA), their DA will be 20% of the basic salary by 2029. In such a situation, 20% DA on a salary of Rs 34,560 will be Rs 6,912 and their pension will be Rs 20,736. Similarly, on a salary of Rs 4.8 lakh, DA will be Rs 96,000 and their pension will be Rs 2,88,000.

Related Articles:-

GST Update: GST taxpayers should do this work before 1st September, otherwise you will not be able to file GSTR-1

ITR processing delays reasons: Why your tax refunds are stuck? know details here

6 Rules of Post Office Saving Schemes like Sukanya Samriddhi to PPF changed, will be implemented from October 1

The post Maximum and Minimum pension calculation under UPS and 8th Pay Commission: know how much pension you will get first appeared on Rightsofemployees.com.

He announced this in a press conference on Saturday and said that concerns have been raised about the social security of government employees and pension is an important part of it.

He talked about the demand of government employees for reforms in the National Pension System (NPS) and said that the government was considering it and now the government has approved UPS. Union Minister Ashwini Vaishnav said that 23 lakh central government employees will benefit from the Unified Pension Scheme. Let us tell you that under UPS, the government has implemented five provisions which make it special. Let us know what are these 5 things.

5 things about UPS make it special from NPS:

First – At least 50% fixed pension

Employees had been demanding for a long time that they should get a fixed amount as pension. This amount will be 50% of the average basic salary of the 12 months just before retirement. The condition for this is that the employee will have to complete 25 years of service.

Also Read:- Subhadra Yojana: Women will get Rs 50,000, installments will be available for five years, Apply immediately

Second- Fixed Family Pension

In NPS, the amount of pension to be received by the family on the death of the employee was not fixed. Whereas in UPS, in case of death of an employee while in service, the family will get 60 percent of the pension.

Third part- Minimum Fixed Pension

The minimum pension amount to be given to a retired employee in UPS has also been fixed. In case of minimum service of 10 years, the employee will be given at least Rs 10,000 per month as pension.

Fourth- Arrangement according to inflation

In the Unified Pension Scheme, pension has been linked with inflation. Employees will also get the benefit of inflation indexation along with pension. This arrangement is exactly like the dearness allowance given to the serving employees at present. That is, with the increase in inflation, the government will increase the pension.

Fifth- Apart from gratuity, a lump sum amount will be given on leaving the job.
The government will give 10% of the salary and DA of each employee for every 6 months of service as a lump sum amount after retirement. This amount will not affect the fixed pension of the employees.

Related Articles:- 

Air India’s great sale! You can book domestic flight tickets for Rs 1,037, take advantage of the opportunity immediately

Gratuity-related questions in your mind – All you need to know

Delhi Metro Recruitment: Get job in Delhi Metro without written exam, You will get salary of 165000

The post Unified pension scheme: These 5 things about UPS make it special from NPS, check here first appeared on Rightsofemployees.com.

The government will contribute 18.5 percent for the Unified Pension Scheme. It also has provisions for family pension, guaranteed minimum pension and lump sum payment after retirement. Union Minister Ashwini Vaishnav said about this scheme, ‘The government contributes 14 percent on its behalf in NPS, which has been increased to 18.5 percent. Employees will have the option to choose from NPS to UPS only once.’

Ashwini Vaishnav said, ‘Today the Union Cabinet has approved the Unified Pension Scheme (UPS) for government employees. 50% assured pension is the first objective of this scheme. The second focus is on assured family pension. About 23 lakh employees of the central government are going to benefit from this integrated pension scheme. The special thing is that employees will have the option to choose between NPS and UPS. ‘ He said that government employees had demanded some changes in the new pension scheme. Regarding this, PM Modi constituted a committee under the chairmanship of Cabinet Secretary TV Somanathan. This committee held more than 100 meetings with various organizations and almost all the states.

‘UPS will be implemented in future’

The Union Minister said, ‘There is a difference in the way PM Modi and the opposition work. Unlike the opposition, Narendra Modi believes in large-scale consultation. Detailed discussions were held with everyone including the Reserve Bank of India and the World Bank in this matter. After this, the committee has recommended the Integrated Pension Scheme.’ He said that today the Union Cabinet has approved this scheme, which will be implemented in future.

Prime Minister Narendra Modi posted on Twitter and said, ‘We are proud of all the government employees who work hard for the progress of the country. The Unified Pension Scheme (UPS) will ensure dignity and financial security of these employees. This step reflects our government’s commitment to their welfare and secure future.’

NPS had become an election issue

It is worth noting that NPS had become an election issue for government employees. During the last few elections, Congress and other opposition parties had promised to end this scheme and implement the old scheme. Ashwini Vaishnav clarified that employees’ contribution will be included in both NPS and UPS. Government employees will not have to make any additional contribution on their behalf in UPS. Only the government’s contribution is being increased in this.

Related Articles:- 

Post Office Scheme New Rule: These 6 new rules will be applicable for PPF, SSY schemes from October 1

Subhadra Yojana: Women will get Rs 50,000, installments will be available for five years, Apply immediately

Gratuity-related questions in your mind – All you need to know

The post Centre approves ‘Unified Pension Scheme’ for govt employees first appeared on Rightsofemployees.com.