Finance Ministry made an announcement regarding government employees, now retired employees will get more benefits on pension through NPS
Central government employees who have retired under NPS on or before March 31, 2025 and have completed a minimum of 10 years of eligible service can now claim additional pension benefits under the Unified Pension Scheme (UPS).
New Pension Rules: The central government has given a big relief to the retired employees covered under the National Pension System (NPS). The Finance Ministry announced that those central government employees who have retired under NPS on or before March 31, 2025 and who have completed a minimum of 10 years of eligible service can now claim additional pension benefits under the Unified Pension Scheme (UPS). These benefits will be in addition to the NPS benefits already received. Also, the legally married spouses of those retired employees can also avail benefits under this scheme if the employee has died.
What is the new rule?
Under this new facility, beneficiaries will get a lump sum payment, which will be calculated as one-tenth of the last basic salary and dearness allowance (DA) payable on it for every full six months of eligible service. Apart from this, a top-up amount will also be added to the monthly pension. This top-up will be determined by adding the monthly pension admissible under UPS and the dearness relief payable and deducting the amount of annual pension under NPS. The government has also announced that eligible beneficiaries will also get simple interest on the outstanding pension, which will be calculated on the basis of PPF rate.
How will you get its benefit?
The application process to avail the benefits of this scheme can be done through two modes—online and offline (physical mode). Beneficiaries applying in physical mode have to contact their nearest Drawing and Disbursing Officer (DDO) and submit the relevant form. Form B2 has been prescribed for the subscriber, while Form B4 or B6 has been prescribed for their legitimate spouse. These forms can be downloaded from www.npscra.nsdl.co.in/ups.php.
How to apply?
At the same time, to apply online, interested beneficiaries can visit the above website and fill the application form by logging on to the UPS portal. The last date for application has been fixed as 30 June 2025, so all eligible persons should complete the process in time.
Who will get the benefit?
The UPS scheme has been officially notified under the NPS Regulations 2025 implemented by the Pension Fund Regulatory and Development Authority (PFRDA) from April 1, 2025. Three categories of central government employees will be included under this.
The first category includes those employees who are in service till April 1, 2025 and come under NPS.
The second category includes those new employees who will be appointed in the Central Government service on or after April 1, 2025.
The third category includes those employees who have retired on or before March 31, 2025, have taken voluntary retirement or have terminated service under Rule 56 (j).
In addition, if the employees falling in these categories have died and had not opted for UPS, then their legally married spouse can also get this benefit.
The post Finance Ministry made an announcement regarding government employees, now retired employees will get more benefits on pension through NPS first appeared on informalnewz.
News