United Pension Scheme for Central Government Employees

• The Pension Fund Regulatory and Development Authority (PFRDA) has operationalized the Unied Pension Scheme (UPS), offering an assured pension of 50% of the average basic pay drawn over the last 12 months prior to superannuation.
• The regulations will come into effect from April 1, enabling the enrolment of Central government employees, including existing employees and new recruits.
• Enrolment and claim forms will be available online from April 1, with the option for physical submission.
• UPS or assured payout will not be available in case of removal, dismissal, or resignation.
• The notication will allow 23 lakh government employees to choose between UPS and NPS.