Regulations to Operationalise UPS Notified

On 19th March 2025, the Pension Fund Regulatory and Development Authority (PFRDA), vide a gazette notification, issued the Pension Fund Regulatory and Development Authority (Operationalisation of Unified Pension Scheme under National Pension System) Regulations, 2025.

  • This follows the UPS notification dated 24th January, 2025 by Government of India for Central Government Employees covered under NPS.
  • The regulations came into effect from 1st April 2025.

What was the Old Pension Scheme (OPS)?

  • The OPS provided a fixed pension of 50% of the last drawn basic pay to government employees at the Centre and states.
  • It was a ‘Defined Benefit Scheme’ with assured payouts and ....
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