UPS rules will be changed from April 1
Integrated pension scheme The rules were updated: The Global Pension Scheme (UPS) was launched by the Government of India in 2023 as a replacement for the best and convenient pension. Recently, the Pension Fund Regulatory and Development Authority (PFRDA) has issued new rules to implement UPS. The rules that have been replaced by the PFRDA will be implemented from April 1, 2025. The rules have been changed only for the use of UPS for central government employees. Let us know what new changes have been found in the rules related to UPS?
These staff can join
The new rules relating to admission can join UPS under three different sections of the Central Government employees. These three types are stated below.
Current employees: Central government employees, which have been included in the new pension system until April 2025, can join the global pension system.
New employees: Such employees who provide their services in the federal government after April 1, 2025 or April 1, 2025 can join the UPS.
Retired Staff: All employees included in NPS until 31st March 31, 2025, can join the UPS under Article 31, 2025 or before the 56J.
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What is UPS?
Universal Pension System, UPS, is a new pension system that operates in a contribution -based system like NPS, but also provides a specific pension, such as the Old Pension System (OPS). Under the UPS, the employees will receive 50% of the average base salary of the last 12 months of the pension. In addition, many such benefits will be provided under UPS, which is not provided under the OPS. For example, employees who live in a period of time for at least 10 years will be paid a minimum of Rs 10,000 per month.
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