New Delhi: The government is now implementing numerous excellent schemes that benefit people on a large scale. Do you know that there is an opportunity to join such a scheme, whose application window opened on April 1 1 2025, and will close on June 30, 2025? In such a situation, you can open your account in this scheme until June 30, 2025.
The National Pension Trust has made a surprising announcement regarding UPS for retired people. A unique aspect of this scheme is that it applies to all former employees or their legally married spouses. They have retired before March 31, 2025. However, this scheme is only prescribed for government employees.
What benefits will be available under the scheme?e
With the grand scheme started, the benefit of a lump sum pension will be given based on the average last salary for half a year and dearness allowance. Additionally, a monthly top-up is also available. This top-up is calculated by reducing the annual amount under the existing NPS by lowering the allowable UPS payment and dearness relief.
You will also get this significant benefit.
The special thing about the government scheme is that it also provides benefits to the life partners of retired employees. The ‘legally married’ life partners of such retired persons are eligible for it. This extension ensures that the financial benefits continue to support the former person’s family.
PPF-like facilities will be available
This scheme offers a simple interest rate equal to the Public Provident Fund on any outstanding amount related to it. At the same time, eligible applicants can apply for UPS benefits either physically or online. For offline application, people will need to download the form from the NPS website. They will have to submit it to the Drawing and Disbursing Officer (DDO) of the last office.