Central govt notifies unified pension scheme for employees

“The Unified Pension Scheme shall be applicable to such Central Government employees who are covered under National Pension System and who choose this option under National Pension System,” the ministry’s January 24 notification said.

Pension Fund Regulatory and Development Authority (PFRDA) may issue regulations for operationalising UPS, it said. “The effective date for operationalisation of the Unified Pension Scheme shall be 1st April, 2025,” it added.

The Union cabinet led by Prime Minister Narendra Modi on August 24, 2024 approved the new pension policy for nearly 2.3 million central government employees, unveiling a framework that assured 50% of basic pay as monthly payout, assuaging federal staff unions that had sought guaranteed retirement benefits.