New Delhi: The deadline for Central government staff to enroll in the Unified Pension Scheme (UPS) is fast approaching, and the Finance Ministry has reminded all eligible employees and NPS members that they can still submit their requests up to November 30. Applications may be filed electronically through the Central Recordkeeping Agency (CRA) platform or by sending a hard copy to the designated nodal office.
The nodal offices will handle each submission following the established procedures. UPS offers a range of incentives—including the ability to switch back to the NPS later, tax‑free perks, and benefits tied to resignation or compulsory retirement. Employees and former retirees currently in the NPS are encouraged to act promptly to take advantage of these advantages.
Choosing UPS does not lock employees out of the NPS; they retain the option to return to NPS whenever they wish. The CRA system, operated under the authority of the Pension Fund Regulatory and Development Authority (PFRDA), serves as the backbone for NPS. It is a web‑based platform that manages subscriber accounts, issues unique Permanent Retirement Account Numbers (PRANs), and acts as the central interface for all NPS intermediaries.
With UPS, Central government personnel receive a guaranteed monthly pension protected against inflation (Dearness Relief), plus additional perks such as gratuities and lump‑sum payouts. This provides a steadier retirement income than the market‑linked NPS. Qualified employees with sufficient service can secure a pension equal to half their average basic pay, and the scheme guarantees at least ₹10,000 per month once they retire.
In the event of the retiree’s death, a surviving spouse is entitled to a lifetime share of the pension, and both pensions and family pensions are adjusted for inflation. Existing rules also offer retirement and death gratuity benefits. Contributions qualify for income‑tax deductions, and certain withdrawals are exempt from tax. Subscribers are also permitted limited partial withdrawals for specific needs during their service.
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