Unified Pension Scheme: Retired Govt Employees With Over 10 Years' Service To Get Additional Benefits
Last Updated:
The government announces that central government NPS retirees by March 31, 2025, with at least 10 years of service, can claim extra benefits under the UPS.
In a major relief for retired central government employees, the central government has said that the central government NPS (National Pension System) subscribers who retired on or before March 31, 2025, with a minimum of 10 years of qualifying service, are now eligible to claim additional benefits under the Unified Pension Scheme (UPS) — over and above the regular NPS benefits they may have already availed.
This benefit can also be claimed by the legally wedded spouse of the eligible retiree.
'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," the finance ministry said in a statement on Friday, May 30, 2025.
What Are the Additional Benefits?
Eligible retirees will receive a lump sum amount equivalent to one-tenth of their last drawn basic pay plus applicable dearness allowance (DA) for every completed six months of qualifying service.
Monthly Top-Up Pension
A monthly top-up will be calculated based on the UPS payout combined with dearness relief (DR), after deducting the representative annuity amount already received under NPS.
How to Claim the Benefits?
Physical Mode:
Form B2 for the subscriber
Form B4/B6 for the legally wedded spouse
Forms can be downloaded from: www.npscra.nsdl.co.in/ups.php
Online Mode:
Visit the same website and fill out the online form for quick processing.
Important Deadline
The last date to claim the UPS benefits is June 30, 2025. Applicants are advised to apply well before the deadline to avoid last-minute issues.
Need Help?
For more information, join the official webinar hosted by PFRDA at:
https://www.pfrda.org.in/index.cshtml
Or call the UPS Help Desk (Toll-Free) at 1800 571 2930.
The Cabinet in August 2024 approved the Unified Pension Scheme (UPS), for an assured pension post-retirement. The UPS has been implemented from April 1, 2025. The move comes after the long-pending demand of the central government employees to reform the new pension scheme (NPS).
It is the latest pension scheme for government employees. Under the UPS, there will be a provision of a fixed assured pension, unlike the New Pension Scheme (NPS) which does not promise a fixed pension amount.
Under the Unified Pension Scheme, the assured payout will be calculated based on the last 12-month salary, months of qualified service, and retirement corpus.
First Published:
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
13 hours ago
- Business Standard
Allow gig workers the option to choose between EPF and NPS schemes
If millions of gig workers are forced into EPF without the option of NPS, complaints about the system's inefficiencies will intensify as its shortcomings inevitably emerge Harsh Roongta Listen to This Article It is 2028. Ambar, a Mumbai-based gig worker, juggles jobs across three service apps. Since 2026, when the government mandated Employees' Provident Fund (EPF) contributions for gig workers, a monthly 'EPF' deduction has appeared in his earning statements across all three platforms. Now diagnosed with cancer, Ambar tries to withdraw from his EPF corpus — a purpose for which withdrawal is allowed under EPF rules — only to be denied. The reason? Multiple employers have contributed to his account. The Employees' Provident Fund Organisation's (EPFO's) rigid systems flag this as a discrepancy, freezing access. Marketed initially as a benefit, the
Indian Express
2 days ago
- Indian Express
‘My Gpay account is linked to hers, my OTPs come on her phone': Sara Ali Khan reveals how she manages finances
Sara Ali Khan recently opened up about her finances, sharing valuable insights into where she invests and who handles her accounts. 'I've learnt about the pie — basically, small things distributed in many instruments. My mom handles my money entirely, even my Gpay account is linked to her, my OTPs come on her phone,' said the Simba actor at the Times Now Summit 2025. When prodded about whether she receives pocket money, like all used to back in school, she shared, 'Forget pocket money, I can't book a ticket without asking her,' she said, adding that she generally invests in 'real estate, stock market, gold bonds, the usual.' Sara's revelation that her mother handles her investments brings us to a critical discussion that necessitates conversations surrounding financial literacy. Mukesh Pandey, Director of Rupyaa Paisa, told that in this day and age, it is no longer a matter of choice — the essential foundation of understanding financial instruments is a must now. 'Having even a basic understanding of key financial instruments like Fixed Deposits, Mutual Funds, Public Provident Fund (PPF), Health & Life Insurance, National Pension Scheme (NPS), Share Investment Plans (SIP) will allow you to keep some control of your financial journey and decisions,jh' he said. According to Panday, India is still far behind in financial literacy. 'A SEBI survey found that only 27% of Indians are financially literate. This suggests that almost three-fourths of our population may be investing without fully understanding where their money is going and what risk issues a particular instrument is associated with,' he shared. Giving an example of mutual funds, Pandey said that various people have invested in them with their focus on returns, but are unaware of where mutual funds fit in the investment risk spectrum. 'They also won't know about exit loads, and of course, they probably do not know that there is a difference between equity mutual funds and debt mutual funds,' he explained. When it comes to fixed deposits, which are a relatively safe option, understanding the impact of inflation on real returns becomes crucial. Someone may over-allocate to Fixed Deposits, thereby harming long-term wealth. With even basic knowledge, many of these mistakes can be avoided. Today, digital accessibility has already made financial products a click away, but with that ease of access comes responsibility. 'Understanding how to benefit from compounding through SIPs, tax-saving opportunities through ELSS or PPF, or even knowing the difference between term insurance and an investment-linked policy can change your financial journey,' stressedPandey. Instead of just letting someone else manage your money, he believes it is crucial to create awareness around your money; ultimately, awareness is the biggest asset you could have. 'Consider that simply making a habit of 15 minutes a week to inform yourself about a financial concept will change the game of financial understanding and ultimately planning,' she said, adding that 'financial awareness is not about knowing all – it is about knowing enough and protecting your future'.
Business Standard
3 days ago
- Business Standard
FPSB India and NPS Trust Sign MoU to Boost Financial Education and Retirement Planning Awareness Across India
PNN Mumbai (Maharashtra) [India], May 30: FPSB India, the Indian subsidiary of Financial Planning Standards Board Ltd., and the NPS Trust (National Pension System Trust) have signed a Memorandum of Understanding (MoU) to jointly enable educational outreach, knowledge exchange, and research collaboration to amplify awareness around retirement planning and long-term financial well-being in India. "At FPSB India, we believe that financial education is not just a life skill - it is a life changer. This MoU with NPS Trust is a powerful opportunity to integrate retirement planning as a central theme of personal finance education and reach diverse segments of society with credible, action-oriented guidance," said Krishan Mishra, CEO, FPSB India. The initiative aligns with the larger vision of strengthening long-term financial security and empowering individuals to make informed financial decisions throughout their life stages. Key initiatives under this MoU include: -Joint Awareness Campaigns on NPS, NPS Vatsalya, APY, and other PFRDA-regulated schemes via seminars, digital outreach, and workshops. -Targeted Outreach to institutions, enterprises, government bodies, and the general public to promote retirement planning awareness. -Information Exchange & Research Collaboration to develop high-quality, relevant financial education content. The MoU reinforces the commitment of both organizations to the Government of India's vision of financial inclusion and Viksit Bharat by providing the tools, resources, and knowledge to plan and secure one's financial future. This strategic partnership aims to enhance the public's understanding of retirement planning and personal finance, especially among institutions, enterprises, government bodies, and the general public. About FPSB India: FPSB India is the leading financial planning body in India and is dedicated to establishing, upholding, and promoting professional standards in financial planning throughout India. FPSB India offers the globally recognized CFP® certification, which represents excellence in financial planning through rigorous competency and ethical standards. It is home to over 3,215 CFP professionals in India and part of a global network of organizations representing more than 230,648 CFP professionals worldwide. FPSB India is the Indian subsidiary of Financial Planning Standards Board Ltd. (FPSB Ltd.), the global standards-setting body for the financial planning profession and owner of the international CERTIFIED FINANCIAL PLANNER certification program. FPSB Ltd. owns the CFP, CERTIFIED FINANCIAL PLANNER and the CFP® outside the United States. FPSB Ltd. licenses these marks to FPSB Institute India Pvt. Ltd to administer CFP certification in India. For more information, visit
