Can Central Govt Employee Change Pension Scheme Option Once They Select Unified Pension Scheme?

New Delhi: The Unified Pension Scheme (UPS) introduced by the central government is coming into effect from 1 April 2025. UPS has been introduced as an option under the National Pension System (NPS) for the Central Government employees covered under NPS so that they may receive an assured payout after their retirement. 

The ‘fund-based’ payout system relies on the regular and timely accumulation and investment of applicable contributions (from both the employee and the employer (the Central Government)) for grant of monthly payout to the retiree.

Can Central Govt Employee Change pension scheme option once they select UPS?

In case an employee chooses the UPS option, all its stipulations and conditions shall be deemed to have been opted for and such option once exercised, shall be final. This means, once you choose UPS, you cannot change your pension scheme option to another scheme like the NPS. 

What is the minimum assured-payout under UPS? 

A minimum assured payout of Rs 10,000 per month has been guaranteed under Unified Pension Scheme in case superannuation is after 10 years or more of qualifying service, subject to timely and regular credit of contributions and no withdrawals.

Who is eligible for the UPS? 

The Central Government employees, who are covered under NPS, are eligible to submit their option for UPS under National Pension System