Ministry Of Finance sets 30th September as deadline for switching to Unified Pension Scheme

The Ministry of Finance today announced 30th September as the last day to switch to the Unified Pension Scheme (UPS) from the National Pension System (NPS) for eligible Central Government employees and past retirees.

In a statement, the Ministry said that the eligible employees under UPS can only switch to NPS once. It added that the switch must be exercised at least one year before superannuation or three months before voluntary retirement.

The step aims to give employees a choice in planning their post-retirement financial security.

The Department of Financial Services has urged eligible employees to act early to avoid last-minute issues and ensure smooth processing of their requests.