Window to opt for UPS extended by 3 months

GIVEN THE TEPID response to the Unified Pension Scheme (UPS), which offers guaranteed pension, the government has extended the deadline for exercising the option for its staff by three months to September-end.

- FE BUREAU

The UPS option was made available to the government staff at the start of the current financial year, with the June 30 deadline for adoption.

"In view of the representations received from various stakeholders requesting an extension of the cut-off date, the Government of India has decided to extend the cut-off date for exercising the option for UPS by three months, i.e., up to 30th September 2025 for eligible existing employees, past retirees, and the legally wedded spouses of deceased past retirees," the government said in a statement.

Teams of officials from the Pension Fund Regulatory and Development Authority and the finance ministry are spearheading a 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.