Govt Extends Cut-Off Date To Opt For Unified Pension Scheme To September 30

(MENAFN- IANS) New Delhi, June 23 (IANS) The government on Monday extended the cut-off date for exercising the option for the Unified Pension Scheme (UPS) by three months to September 30 for eligible existing employees, past retirees and the legally wedded spouses of deceased past retirees.

The Finance Ministry said that the decision has been taken“in view of the representations received from various stakeholders requesting an extension of the cut-off date.”

The UPS for eligible Central government employees was notified by the Ministry of Finance on January 24, 2025.

To operationalise this framework, the Pension Fund Regulatory and Development Authority (PFRDA) notified the regulations on March 19, 2025.

As per the regulations, eligible existing employees, past retirees, and the legally wedded spouses of deceased past retirees were given a period of three months up to 30th June 2025 to exercise their option under the scheme. This date has now been extended by three months.

These NPS regulations that have been notified enable the enrolment of three categories of central government employees. The first is category covers existing central government employees in service as on April 1, 2025, who are covered under NPS, while the second category includes new recruits in the central government services, who join service on or after the April 1.

The third category includes central government employees who were covered under NPS and who have superannuated or voluntarily retired or have retired under Fundamental Rules 56(j) on or before March 31, 2025 and are eligible for UPS or the legally wedded spouse in case of a subscriber who has superannuated or retired and has demised prior to exercising the option for UPS.

Meanwhile, the government also announced on June 18 that Central government employees covered under the Unified Pension Scheme will now be eligible for retirement and death gratuity benefits.

Union Minister of State (Independent Charge) for Department of Personnel, Public Grievances and Pensions, Dr. Jitendra Singh, said that the move addresses a significant demand of government staff and brings parity in retirement benefits. The new provision reflects the government's commitment to ensure social security for all categories of employees under the National Pension System, he explained.

MENAFN23062025000231011071ID1109710629