India Extends Deadline for Central Employees to Switch to Unified Pension Scheme
The Indian government has extended the deadline for central employees to switch to the Unified Pension Scheme (UPS). Originally set for June 30, 2025, the new deadline is November 30, 2025. This move aims to simplify pension management for government employees.
Previously, central government employees were covered under the National Pension System (NPS), which offers market-linked returns. The UPS, introduced on April 1, 2025, provides a defined benefit pension, with monthly contributions based on the employee's pension. The Old Pension Scheme (OPS) remains the traditional defined benefit pension scheme.
Employees who opt for UPS can still open and maintain voluntary NPS Tier-1 and Tier-2 accounts under the 'All Citizen Model'. This allows them to benefit from both schemes. The UPS is exclusive to government employees, while NPS is open to all Indian citizens.
The extended deadline gives central government employees more time to decide on switching to the UPS. The UPS, along with the NPS, offers employees more pension scheme options, promoting better retirement planning and financial security.
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