NPS pensioners to get more benefits under Unified Pension Scheme. Details here
In a major relief for retired central government staff, the Finance Ministry has announced extra benefits under the Unified Pension Scheme (UPS). This is especially for those who have retired under the National Pension Scheme (NPS) on or before March 31, 2025.WHO CAN GET THESE BENEFITS?If you're a central government employee who retired under the NPS and has completed at least 10 years of service, you are eligible. If the retiree has passed away, their legally wedded spouse can also claim it.advertisementThese UPS benefits will be given in addition to your existing NPS pension.
As per a press release dated May 30, 2025, 'The Central government NPS subscribers who retired on or before 31/03/2025 with minimum 10 years of qualifying service or their legally wedded spouse can claim the following additional benefits under Unified Pension Scheme (UPS), over and above the NPS benefits already claimed.'WHAT ARE THE ADDITIONAL BENEFITS?Eligible NPS retirees can either get a one-time payment based on their last drawn Basic Pay and Dearness Allowance (DA) for every six months of service, or receive a monthly top-up if their current pension is less than what they'd get under UPS with Dearness Relief.Arrears, if any, will be paid with simple interest, as per the PPF interest rate.HOW TO APPLY?advertisementThe Ministry said that retirees can apply either online or offline.For offline, they need to visit their Drawing and Disbursing Officer (DDO) and submit the form. Those applying online can do so through the official website. The deadline to apply is June 30, 2025.Meanwhile, earlier this year, government data showed that over 6.4 crore people joined the EPF and ESI schemes between September 2017 and November 2019, while more than 16 lakh individuals enroled under the NPS during the same period.Must Watch
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
2 days ago
- Time of India
Pakistan inflation rises 3.5% in May, exceeding forecast
Pakistan's Consumer Price Index (CPI) rose 3.5% year-on-year in May, the Statistics Bureau said on Monday, exceeding the Finance Ministry's 1.5% to 2% forecast. The country's economy is on a fragile path to recovery under a $7 billion IMF program requiring reforms and policies that resulted in higher power tariffs and taxes. Annual inflation had dipped to 0.3% in April, its lowest in nearly a decade and a marked fall from 11.8% in May 2024 and a record near 40% a year earlier. The finance ministry in its monthly report said inflation would pick up to between 3% and 4% in June. We're witnessing the base effect fading, that's why there was an uptick in CPI year-on-year," said Adnan Sheikh, deputy head of research at Pak Kuwait Investment Company. "However, price pressures continue to fade which can be seen by two months of consecutive month-on-month deflation, which hasn't happened since January 2021." Live Events Prices in May declined 0.3% from the previous month. Pakistan's planning minister on Monday said that the government expects inflation to average 7.5% in the next fiscal year. The country's central bank, in its half-yearly report released in April, said it expects average inflation for the current fiscal year to end-June of between 5.5% and 7.5%, with the current rate at 4.6%. The central bank cut its main policy rate by 100 basis points to 11% last month, resuming an easing cycle that had brought the rate down from a record high of 22% after a brief pause in March. It said the current rate was sufficient to stabilise inflation within the 5% to 7% range while supporting economic growth but warned of risks from food price volatility, energy price adjustments, and uncertainty in global commodity markets. Pakistan will present its annual budget on June 10 for the 2025-26 financial year, outlining taxation and policy measures that could affect inflation.
India Today
2 days ago
- India Today
NPS pensioners to get more benefits under Unified Pension Scheme. Details here
In a major relief for retired central government staff, the Finance Ministry has announced extra benefits under the Unified Pension Scheme (UPS). This is especially for those who have retired under the National Pension Scheme (NPS) on or before March 31, CAN GET THESE BENEFITS?If you're a central government employee who retired under the NPS and has completed at least 10 years of service, you are eligible. If the retiree has passed away, their legally wedded spouse can also claim UPS benefits will be given in addition to your existing NPS pension. As per a press release dated May 30, 2025, 'The Central government NPS subscribers who retired on or before 31/03/2025 with minimum 10 years of qualifying service or their legally wedded spouse can claim the following additional benefits under Unified Pension Scheme (UPS), over and above the NPS benefits already claimed.'WHAT ARE THE ADDITIONAL BENEFITS?Eligible NPS retirees can either get a one-time payment based on their last drawn Basic Pay and Dearness Allowance (DA) for every six months of service, or receive a monthly top-up if their current pension is less than what they'd get under UPS with Dearness if any, will be paid with simple interest, as per the PPF interest TO APPLY?advertisementThe Ministry said that retirees can apply either online or offline, they need to visit their Drawing and Disbursing Officer (DDO) and submit the form. Those applying online can do so through the official website. The deadline to apply is June 30, earlier this year, government data showed that over 6.4 crore people joined the EPF and ESI schemes between September 2017 and November 2019, while more than 16 lakh individuals enroled under the NPS during the same Watch
India.com
2 days ago
- India.com
Will Loans Below Rs 2 Lakh Be Exempt From Tighter Rules Under New Gold Loan Norms? Finance Ministry Steps In
New Delhi: The Finance Ministry said on Friday it has suggested that the Reserve Bank of India (RBI) should exclude small borrowers of up to Rs 2 lakh from the provisions of its draft directions on lending against gold collateral. The Finance Ministry has also suggested that the implementation of the guidelines be postponed to next year. 'The draft directions on lending against gold collateral issued by the RBI have been examined by the Department of Financial Services (DFS) under the guidance of Finance Minister Nirmala Sitharaman. The DFS has given suggestions to the RBI to ensure that the requirements of the small gold loan borrowers are not adversely affected,' the Finance Ministry said in a statement on X. DFS has also stated that such guidelines will need time to implement at the field level and hence may be suitable for implementation from January 1, 2026 only, the statement said. Further, DFS has suggested that borrowers below Rs 2 lakh may be excluded from the requirements of these proposed directions to ensure timely and speedy disbursement of loans for such small ticket borrowers, the statement explained. 'RBI is reviewing the feedback received on the Draft guidelines. It is expected that concerns raised by various stakeholders, as well as the feedback received from the public, will be duly considered by the RBI before finalising the directions on the same. The suggestions have been duly forwarded to the RBI," the statement added. Shares of Muthoot Finance and Manappuram rose on the FinMin's feedback, trading at Rs 2,136.10 and Rs 233.14 apiece, up 3.07 per cent and 0.57 per cent respectively. Earlier in April, the RBI issued draft guidelines, seeking to establish uniform rules and regulations for getting gold loans from banks and NBFCs. However, the draft rules imposed some restrictions regarding the type of gold that is eligible as collateral and the maximum loan amount a bank or NBFC can extend. The RBI had found some shortcomings such as weak loan appraisal mechanisms, poor monitoring of the end use of funds, and lack of transparency during gold auctions after default. The draft guidelines are now intended to harmonise norms across different types of lenders, while also reflecting their respective risk-bearing capacities.
