Nps vs ups: Many government employees who retire on or earlier 31 March 2025 are confused whether they will get the benefit of Unified Pension Scheme (UPS). Now the National Pension System (NPS) Trust has clarified things by issuing a public notice on 26 May.
According to the notice, employees who retire on or before March 31 can get the benefit of UPS. However, the last date to claim these benefits is 30 June 2025.
The Pension Fund Regulatory and Development Authority (PFRDA) is also webinar on its website so that people can get information about UPS easily.
What is Unified Pension Scheme?
The Central Government has started the Unified Pension Scheme (UPS) from 1 April 2025. This will also benefit those retired government employees who have retired before 31 March, 2025 and have worked for at least 10 years. Also, his spouse will also be eligible for the benefits related to it.
The special thing is that apart from the pension being received under NPS, these additional benefits will be available, that is, there is no need to surrender the pension already received.
What are the benefits under UPS?
Lump sum payment: 1/10 part of your last basic salary and dearness allowance, for the service of every six months.
Monthly top-up: By reducing the pension being received under NPS, the rest of the amount will be made every month.
Last due: Interest will also be available on these benefits according to the rate of Public Provident Fund (PPF).
How to claim the benefits of UPS?
Offline method: If you want to go and claim yourself, then you have to fill a form and submit it to the office from where you (or your spouse) retired. You will find the form at www.npscra.nsdl.co.in/ups.php.
Online method: To claim online, you go to www.npscra.nsdl.co.in/ups.php website. Fill the online form there and submit it.
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