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Business Standard
28-07-2025
- Business
- Business Standard
Only 1.37% of eligible central govt employees opted for UPS as of July 20
Only 1.37 per cent of eligible central government employees have opted for the Unified Pension Scheme (UPS) so far. In a written reply to the Lok Sabha on Monday, the Finance Ministry informed that as of 20 July 2025, a total of 31,555 employees had opted for the scheme. The government has extended the deadline for opting into the scheme to September 2025 from the earlier cut-off date of 30 June 2025. Minister of State for Finance Pankaj Chaudhary said the UPS has been introduced as an option under the National Pension System (NPS) for central government employees currently covered under NPS, with the objective of providing assured payouts. In August 2024, Information and Broadcasting Minister Ashwini Vaishnaw had said, 'UPS is being implemented by the Central Government, benefiting ~23 lakh Central Government employees.' 'These eligible subscribers are those central government employees who have either superannuated, deceased, or retired under Fundamental Rule 56(j) on or before 31 March 2025, after completing ten years or more of qualifying service under NPS,' said Finance Minister Nirmala Sitharaman. Sitharaman further stated that as on 20 July 2025, 7,253 claims had been received, out of which 4,978 had been processed for payment of benefits under UPS. The UPS guarantees employees 50 per cent of their average basic pay over the last 12 months before retirement as pension, provided they have completed a minimum qualifying service of 25 years. This is in contrast to the market-linked returns under the NPS. According to the scheme approved by the Union Cabinet, the pension will be proportionate for a lesser service period of up to a minimum of 10 years. The scheme has been introduced to address concerns raised by government employees over the NPS, which has been in effect since 1 January 2004. The government has also extended to UPS the same tax benefits available under the Income-tax Act, 1961, for NPS. Under the earlier Old Pension Scheme (OPS), employees were not required to contribute towards their pension. However, they contributed to the General Provident Fund (GPF), the accumulated amount of which—along with interest—was paid to the employee at the time of retirement.
Business Standard
23-06-2025
- Business
- Business Standard
Govt extends Unified Pension Scheme option deadline to 30 September 2025
The Union government on Monday announced a three-month extension to the Unified Pension Scheme (UPS) opt-in deadline. Eligible current employees, retirees, and legally wedded spouses of deceased retirees now have until 30 September 2025—extended from the earlier 30 June 2025 timeline. The newly announced regulations have taken effect from April 1, 2025. Under the UPS, three categories of central government employees are eligible for enrolment: existing employees in service as of April 1, 2025, who are already covered under the National Pension System (NPS); new recruits joining central government services on or after April 1, 2025; and employees who were covered under NPS but had superannuated, taken voluntary retirement, or retired under Fundamental Rule 56(j) on or before March 31, 2025. In cases where such a retiree has passed away without opting for UPS, their legally wedded spouse is also eligible. Subscribers under UPS are required to contribute 10 per cent of their basic pay—including non-practising allowance where applicable—and dearness allowance (DA) into their Permanent Retirement Account Number (PRAN). The central government will not only match this contribution with an equal amount but will also provide an additional contribution estimated at 8.5 per cent of the combined basic pay and DA to support the assured payout structure of UPS. The scheme guarantees a minimum pension of Rs 10,000 per month, provided the subscriber has completed at least 10 years of qualifying service. As per the earlier notification, the rate of full assured payout will be 50 per cent of the 12-month average basic pay immediately prior to superannuation, subject to a minimum qualifying service of 25 years—compared to a market-returns-linked payout under the NPS.
NDTV
26-05-2025
- Business
- NDTV
Top Defence Scientist Gets Another One Year Extension
New Delhi: The Central government on Monday extended the tenure of Defence Research and Development Organisation (DRDO) chief Samir V Kamat by one more year, till May 2026. This is his second extension in the post. A distinguished scientist, Mr Kamat was appointed as secretary of the Department of Defence Research and Development (DDR&D) and the DRDO chairman on August 25, 2022. He was given one-year extension on May 27 last year, which was to end this month. The Appointments Committee of the Cabinet has approved extension of Kamat's service as DDR&D secretary and DRDO chairman under Fundamental Rule 56 (d) for a further period of one year from June 1, 2025 till May 31, 2026, or until further orders, the Personnel Ministry said. The rule allows the Central government to extend services of incumbents on select posts in public interest.
News18
26-05-2025
- Business
- News18
DRDO Chief Samir V Kamat Gets Second One-Year Extension
Last Updated: A distinguished scientist, Kamat was appointed as secretary of the Department of Defence Research and Development (DDR&D) and the DRDO chairman on August 25, 2022. The Central government on Monday extended the tenure of Defence Research and Development Organisation (DRDO) chief Samir V Kamat by one more year, till May 2026. This is his second extension in the post. A distinguished scientist, Kamat was appointed as secretary of the Department of Defence Research and Development (DDR&D) and the DRDO chairman on August 25, 2022. He was given one-year extension on May 27 last year, which was to end this month. The Appointments Committee of the Cabinet has approved extension of Kamat's service as DDR&D secretary and DRDO chairman under Fundamental Rule 56 (d) for a further period of one year from June 1, 2025 till May 31, 2026, or until further orders, the Personnel Ministry said. The rule allows the Central government to extend services of incumbents on select posts in public interest. PTI)
Time of India
26-05-2025
- Business
- Time of India
DRDO chief Samir V Kamat gets second one-year extension
The Central government on Monday extended the tenure of Defence Research and Development Organisation ( DRDO ) chief Samir V Kamat by one more year, till May 2026. This is his second extension in the post. A distinguished scientist, Kamat was appointed as secretary of the Department of Defence Research and Development (DDR&D) and the DRDO chairman on August 25, 2022. He was given one-year extension on May 27 last year, which was to end this month. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Moose Approaches Girl At Bus Stop In Laguna - Watch What Happens Happy in Shape Undo The Appointments Committee of the Cabinet has approved extension of Kamat's service as DDR&D secretary and DRDO chairman under Fundamental Rule 56 (d) for a further period of one year from June 1, 2025 till May 31, 2026, or until further orders, the Personnel Ministry said. The rule allows the Central government to extend services of incumbents on select posts in public interest.
