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India Today
27-05-2025
- Business
- India Today
Retired before March 2025? Don't miss UPS benefits for you or your spouse
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, 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 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 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 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 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 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 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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Business Standard
27-05-2025
- Business
- Business Standard
Extra pension perks? UPS has something for NPS retirees and spouses
The Pension Fund Regulatory and Development Authority (PFRDA) has announced benefits under the Unified Pension Scheme (UPS) for central government employees who retired under the National Pension System (NPS) on or before March 31, 2025. These benefits also extend to their spouses. Who is eligible for Unified Pension Scheme (UPS)? According to a recent notification by the Department of Financial Services and UPS Regulations, 2025: The scheme covers Central Government employees who retired on or before March 31, 2025. They must have completed a minimum of 10 years of qualifying service, 'Legally wedded' spouses of such retirees are also eligible for the benefits. These UPS benefits are over and above the existing NPS entitlements, including annuities. Key benefits under Unified Pension Scheme (UPS) A one-time payout equivalent to one-tenth of the last drawn basic pay plus dearness allowance (DA) for each completed six months of qualifying service. Monthly top-up amount A fixed monthly benefit calculated as: (Admissible UPS payout + dearness relief) – Representative annuity amount under NPS. Interest on arrears Simple interest will be paid on arrears of the above amounts, calculated at the applicable Public Provident Fund (PPF) rates. Note: Sample calculations are available in Schedule VII of the PFRDA UPS Regulations, 2025. How to claim benefits of Unified Pension Scheme (UPS) Applicants can choose between physical or online modes: Offline submission Download the relevant form (Form B2 for subscribers, B4/B6 for spouses) from Submit the completed form to the Drawing and Disbursing Officer (DDO) of the office where the subscriber last served. Online submission Visit the same website Fill and submit the online form directly to the DDO for processing. Important deadline for Unified Pension Scheme (UPS) Application Window: April 1, 2025 to June 30, 2025 No claims will be accepted after this period. PFRDA conducts webinars to help retirees and their families understand the scheme better. Details are available on the official PFRDA website.
Time of India
26-05-2025
- Business
- Time of India
UPS benefits announced for these retired govt employees and their spouses: Know how to claim UPS benefits, deadline to apply
Tired of too many ads? Remove Ads Unified Pension Scheme Tired of too many ads? Remove Ads Lumpsum payment (one-time) Monthly top-up amounts Simple interest on arrears Tired of too many ads? Remove Ads The Pension Fund Regulatory and Development Authority ( PFRDA ) has introduced the Unified Pension Scheme (UPS) to provide additional benefits to subscribers who retired under the National Pension System (NPS) on or before March 31, 2025, and their legally wedded Unified Pension Scheme (UPS) is introduced by the Central Government as an option under the National Pension System (NPS) for Central Government employees with effect from 1st April 2025. The UPS provides assured pay-out based on the prescribed UPS was notified by the Department of Financial Services, Ministry of Finance, under notification F. No. FX1/3/2024-PR, dated January 24, 2025. Subsequently, PFRDA issued the UPS Regulations, 2025, on March 19, 2025, to operationalize the scheme. These regulations extend specific benefits to eligible NPS retirees and their spouses, supplementing the benefits already accrued under NPS, including annuity offering a one-time lumpsum payment, monthly top-up amounts, and interest on arrears, the UPS complements existing NPS benefits. Eligible retirees and their spouses are encouraged to act promptly within the claim period (April 1, 2025, to June 30, 2025) and utilize the resources provided by PFRDA to ensure a smooth claim following UPS benefits are available to such subscribers/their legally wedded spouses. These benefits are available in addition to the benefits availed or accrued to such employees under NPS including annuity.A one-time lumpsum payment equivalent to one-tenth of the last drawn basic pay plus dearness allowance (DA) for each completed six months of qualifying service. This amount is payable as of the date of superannuation, voluntary retirement, or retirement under Fundamental Rules 56(j), as applicable.A monthly top-up amount is calculated as follows:Admissible UPS payout + Dearness Relief (DR) – Representative annuity amount under ensures that retirees receive a supplementary pension to bridge any gap between NPS annuity payouts and UPS interest, calculated at the applicable Public Provident Fund (PPF) rates, will be applied to arrears for the above benefits for the past subscriber or spouse, as appropriate, must deliver the completed relevant Form (B2-for the subscriber and B4/B6-for the legally married spouse) to the relevant Drawing and Disbursing Office (DDO) where the subscriber has subscriber or the spouse need to visit and fill the online form and submit the same through online mode to DDO for their is the last date to claim UPS benefits?Timelines to claim the benefits are from April 1, 2025 to June 30, Central Government employees who retired under the NPS on or before March 31, 2025, and completed at least 10 years of qualifying service, are eligible. Their legally wedded spouses are also entitled to claim the retirees and/or their spouses will receive:A one-time lump sum payment based on last drawn pay and DA.A monthly top-up amount to supplement NPS on arrears, calculated using the applicable PPF interest lump sum is equal to one-tenth of the last drawn basic pay + DA for each completed 6 months of qualifying service at the time of is the difference between the UPS pension entitlement (plus dearness relief) and the annuity received under NPS. This amount is paid These are additional benefits on top of what is already received through the NPS, including the annuity.
Mint
26-05-2025
- Business
- Mint
National pension scheme: Retired on or before March 2025? Here's how to claim UPS benefits for yourself or spouse
The National Pension System (NPS) Trust has on May 26 put out a public notice regarding UPS benefits for subscribers who have retired under NPS on or before March 31, 2025. This is valid for self or their legally wedded spouse, it added. Notably, the last date or deadline to claim these benefits is June 30, 2025. 'The Pension Fund Regulatory and Development Authority (PFRDA) is conducting regular webinar on UPS via website,' the notice, dated May 26, 2025, said. 'Unified Pension Scheme (UPS) introduced by central government, effective from 1 April 2025, are available to past retirees also (those subscribers who retired on or before 31/03/2025 and had completed a minimum 10 years of qualifying service in Central Govt.) and for their legally wedded spouse,' the notice stated. It added that the additional UPS benefits are available to the retired employees or pouse under NPS, 'and they need not to necessarily surrender the benefits availed under NPS including annuity'. Lumpsum payment (one time) one-tenth of last drawn basic pay and dearness allowance thereon, for each completed six months of qualifying service. Monthly Top-up amount, which is calculated based on admissible UPS payout and dearness relief (DR), minus the representative annuity amount under NPS. Simple interest as per applicable public provident fund (PPF) rates on arrears with respect to above benefits for the past period. Physical mode: If you want to go in person, the claimant is required to submit the filled in applicable Form to the concerned Drawing and Disbursing Officer (DDO) from where the subscriber (you / spouse) has retired. The forms are: B2 for subscriber and B4 or B6 for the legally wedded spouse. These forms can be downloaded from Online mode: If claimants (you / spouse) want to conduct the process online, visit the following website: Once on the website, fill the online form and submit the same through online mode to DDO for their processing.
Indian Express
20-05-2025
- Indian Express
Dahod MGNREGA ‘scam': Gujarat Minister Khabad's younger son sent to four days in police custody
A court in Dahod on Tuesday sent Gujarat Minister of State for Panchayat and Agriculture Bachubhai Khabad's younger son Kiran Khabad to four days in police custody, following his arrest on Monday in connection with an alleged Rs 71 crore Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) scam in Devgadh Baria and Dhanpur talukas of Dahod. According to police, three more persons have been arrested, taking the tally to 14 so far. Along with Kiran Khabad, Dahod Deputy District Development Officer (DDO) Rasik Parmar — who was the then taluka development officer of Dhanpur, and Parth Baria, the owner of one of the agencies supplying material have also been sent to four days in police custody while former Assistant Programme Officer Dilip Chauhan — also said to be distant relative of the Khabads — has been sent to 10 days in police custody. Dahod Deputy Superintendent of Police Jagdishsinh Bhandari told The Indian Express that the police had sought remand for 14 days. 'We had applied for 14 days remand but the court granted a remand of 10 days for Chauhan, and four days for Kiran Khabad and others. We also have Balvantsinh (Bachubhai's older son) in custody until Thursday… The investigation involves sensitive details of the transactions and having the accused in custody together will help the probe,' Bhandari said. While Bhandari refused to detail the grounds put forth in the remand application, he said that on Tuesday, the Dahod district police arrested three more persons, then Assistant Programme Officer of Dhanpur Bhavesh Rathod, MIS operator Sanjay Baria and the owner of another agency that supplied materials, Jagdish Baria, taking the total number of arrested accused to 14 so far. A senior police official told this newspaper that the probe was on to ascertain the exact amount of the scam as a total of 35 'unauthorised' agencies, including 28 in Devgadh Baria had been paid from the MGNREGA funds towards alleged supply of materials. 'There are certainly other persons the police are looking for. They are owners of the other agencies, who have also been paid for supply of material. The police are also probing if Balvantsinh or Kiran Khabad through their influence in the area floated any additional agencies under names of others. So far, on record, only two agencies — Raj Construction and Raj Traders— reflect against their names,' the official said. 'During the investigation, if owners of other agencies who received payments cannot be tracked down, the probe will obviously take a different turn,' the official added. On Tuesday, in a video issued by close aides of Bachubhai Khabad, the minister was heard blaming the Congress party for 'baseless allegations'. Stating that he and his sons were involved in the business of supplying material and were not engaged for 'labour contracts', Khabad said, 'The Congress has been making allegations (of MGNREGA scam) since last six months)… There has been an allegation against 35 agencies. My sons also run a material supplying business since 2018. They do not have any other business. We can sell this even in the open market. We do not have labour nor have we been given the contract for labour work in this (project)… The administration is conducting an investigation and I trust the probe of the administration. Whatever it concludes, we will accept…' Khabad further added, 'The Congress has been making such allegations every year since long. They have moved the High Court against me on two occasions. The High Court has given me a clean chit.' 'I have been in politics for 25 years and not a single allegation of corruption has been made during my tenure as a Cabinet Minister. In this term, my department has worked hard to move Panchayat processes online to ensure transparency … The baseless allegations made by the Congress are a sign of their frustration,' the minister said. Bachubhai Khabad did not respond to calls and text messages from this newspaper, seeking a direct comment on the issue.
