The Indian government has given central government employees more time to decide on their retirement savings. On Tuesday, officials pushed back the deadline for switching from the National Pension System (NPS) to the new Unified Pension Scheme (UPS) until November 30. This replaces the original cutoff of September 30.
The extension covers eligible current employees, past retirees, and the spouses of deceased retirees who want to join the UPS. The Department of Financial Services (DFS) announced the change in a notification to the Pension Fund Regulatory and Development Authority (PFRDA). They made the move after hearing from many stakeholders who needed extra time to handle recent updates to the scheme.
The Finance Ministry has told the PFRDA to update the Central Recordkeeping Agency (CRA) systems right away and send out a circular to put this into action. Before this, the ministry had warned everyone to make their choice early and skip the September 30 rush. “All eligible employees should act well before the deadline to dodge last-minute headaches and get their requests processed smoothly,” the ministry said in a statement. If you stick with the NPS, you can’t jump to the UPS after November 30.
Switching works one way for now: You can move from UPS to NPS just once, but you can’t go back. Make the switch at least a year before you retire or three months before voluntary retirement—whichever comes first. No luck if you’re facing removal, dismissal, compulsory retirement as punishment, or any ongoing or planned disciplinary action.
If you don’t pick an option by the deadline, you’ll automatically stay under the UPS. This whole setup helps central government employees plan their post-retirement finances with confidence. Choosing the UPS now keeps your door open to switch to the NPS later if things change.
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