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Retired before March 2025? Don't miss UPS benefits for you or your spouse

Retired before March 2025? Don't miss UPS benefits for you or your spouse

India Today27-05-2025
The National Pension System (NPS) Trust has announced that retired employees or their spouses who retired on or before March 31, 2025, are eligible to claim benefits under the Unified Pension Scheme (UPS). The claim deadline is June 30, 2025.WHAT IS UPS?Introduced by the Central Government on April 1, 2025, the UPS provides additional benefits to those who have completed at least 10 years of qualifying service in the Central Government and their legally wedded spouses. According to the NPS, these benefits are available without having to surrender existing NPS benefits, including annuities.advertisementWHAT BENEFITS DOES UPS OFFER?The UPS offers a one-time lumpsum payment, equivalent to one-tenth of the last drawn basic pay and dearness allowance for every completed six months of qualifying service. Additionally, a monthly top-up is provided, calculated by factoring in the admissible UPS payout and dearness relief, subtracting the annuity amount under NPS.
Simple interest, aligned with public provident fund rates, is also applied to any arrears related to these benefits. This ensures that retirees receive a fair amount that reflects their service and dedication.HOW TO CLAIM BENEFITS?To claim these benefits, retirees or their spouses must submit the completed forms to the relevant Drawing and Disbursing Officer (DDO).Forms B2 are required for subscribers, while B4 or B6 are needed for legally wedded spouses. These forms can be downloaded from the NPS website. The process is straightforward, ensuring that retirees can access their benefits without unnecessary complications.advertisementFor those preferring an online process, claimants can visit the NPS website and fill out the forms online, which are then processed by the DDO. This offers a convenient alternative to in-person submissions, making the process more accessible for everyone involved.WEBINARS TO HELP RETIREESThe Pension Fund Regulatory and Development Authority (PFRDA) is actively engaging with the public by conducting regular webinars on UPS via their website. These sessions aim to clarify any doubts and provide guidance on the claiming process, underlining the authority's commitment to facilitating smooth access to pension benefits. These webinars are an excellent resource for retirees seeking more information.It's important for eligible retirees and their spouses to ensure that they meet the requirements and submit their claims before the deadline to take full advantage of these benefits. The initiative underscores the government's effort to improve financial security for retired employees, ensuring that they are well-supported in their post-retirement years.The UPS aims to enhance the financial well-being of past retirees by offering substantial benefits without affecting their existing NPS entitlements. This initiative is a significant step towards ensuring sustained support for retirees in managing post-retirement financial needs, providing peace of mind and financial stability.
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