Centre set to further intensify outreach programme for UPS

Switching Over?

- PRASANTA SAHU

THE UNION GOVERNMENT is set to intensify the outreach programme to encourage its employees to switch over to the new Unified Pension Scheme (UPS), which has seen a muted response since its roll-out on April 1.

Teams of officials from the Pension Fund Regulatory and Development Authority and the finance ministry are spearheading the campaign to educate the employees and civil accounts officers about the benefits of UPS, which guarantees a pension at 50% of the last 12 months' average pay, sources said.

Employees in each government department are given PowerPoint presentations about the salient features of the scheme and how it is different from the market-linked pension under the National Pension System (NPS) without any guarantee. The employees are shown the procedure on how to switch from NPS to UPS seamlessly.

On Wednesday, the Institute of Government Accounts and Finances is also organising a training programme for Indian Civil Accounts Service officers on the UPS in view of a large volume of queries being raised by individual officers regarding the comparative benefits, procedural requirements, and operational mechanisms of both schemes.

They will be thoroughly acquainted with the features, eligibility conditions, financial implications, and implementation processes of the UPS.