UPS Scheme: If you are a government employee, then this news can prove to be very important for you. Let us tell you that government employees are going to get a big relief. The government has recently issued a notification regarding UPS. The UPS scheme is applicable from 1 April 2025. At the same time, central employees are getting the option to join it. Its special thing is that after retirement from UPS, a fixed pension starts being received. Whereas the existing NPS is completely linked to the market.

Let us know about the UPS scheme

Let us tell you that UPS is a fund-based pension scheme. In this, both the employees and the central government have to contribute every month, and after retirement, the employee starts getting a regular pension. The best thing about this is that it will get a guaranteed pension of at least Rs 10 thousand. But the condition is that the job period of the employee taking advantage of this scheme should be less than 10 years.

UPS Scheme
UPS Scheme

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Know the difference between UPS and NPS

Let us tell you that NPS is market-based. In this, money is invested in the stock market and bonds, etc. Therefore, the return depends on the market. On the other hand, UPS is a guaranteed pension, and it is linked to your last salary. In NPS, a pension is received according to the corpus on retirement. Recently, the minimum pension in UPS has been fixed at Rs 10,000.

Who can avail the benefits of UPS?

According to the information, government employees can avail the benefits of UPS. Those who have been appointed after 1 January 2004, and people who have joined now, can avail the benefits of NPS. Along with this, there is no scheme for railway employees, daily wage laborers, All India Services officers, or those working on contract. At the same time, employees joining till 2025 can choose UPS. Those joining from 1 April 2025 cannot avail the benefits of the scheme.

UPS Scheme
UPS Scheme

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How to move from NPS to UPS

  • The government has started an easy process on the eNPS portal for this.
  • For this, first go to the eNPS portal.
  • After this, choose the option of NPS to UPS migration.
  • Now fill in your PRAN number and date of birth.
  • Now an OTP will come to the registered mobile number.
  • Read the declaration and accept it, and e-sign.
  • Now enter the OTP from your Aadhaar number/VID and verify it.
  • After the process is successful, you will get an Acknowledgement Number, from which you will be able to download the form.
  • Keep in mind that once you have chosen UPS, you cannot choose it again.

How to apply offline

  • If you want to apply offline, then download Form A2.
  • After this, get it verified by your office head.
  • After this, send it to DDO → PAO/CDDO → CRA.
  • After this, your PRAN will be allotted, and the first contribution will have to be deposited within 20 days.