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Tax benefits available under NPS shall apply mutatis mutandis to UPS The Department of Financial Services, Ministry of Finance vide its Notification No. FS-1/3/2023-PR dated 24.01.2025 had notified introduction of the Unified Pension Scheme (UPS) as an option under NPS for the recruits to the Central Government civil service w.e.f. 01.04.2025 giving one-time option to the Central Government employees covered under the National Pension System (NPS) for inclusion under the UPS. To operationali
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FAQ :
The Unified Pension Scheme (UPS) is an optional scheme introduced under the National Pension System (NPS) for recruits to the Central Government civil service, effective from 1st April 2025.
Recruits to the Central Government civil service are eligible for the UPS. Central Government employees already covered under NPS are given a one-time option to be included under UPS.
Yes, the tax benefits available under the National Pension System (NPS) will apply mutatis mutandis (with necessary changes) to the Unified Pension Scheme (UPS).
The Unified Pension Scheme (UPS) was notified for introduction effective from 1st April 2025.
The Pension Fund Regulatory and Development Authority (PFRDA) has notified regulations for the operationalisation of the Unified Pension Scheme under NPS.
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