Notably, in August, through a memorandum, DFS introduced a one-time, one-way switch facility for Central Government employees who have already opted for UPS, allowing them to revert to the NPS.
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The Department of Financial Services (DFS), Ministry of Finance, on Thursday underlined that the last date for eligible employees and past retirees under the National Pension System (NPS) to opt for the Unified Pension Scheme (UPS) is September 30, 2025.
All eligible employees are urged to exercise their option well before the deadline to avoid any last-minute difficulties and to ensure the timely processing of their requests. Employees who choose to remain in NPS cannot opt for UPS after this date, a circular by the Ministry of Finance said.
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Notably, in August, through a memorandum, DFS introduced a one-time, one-way switch facility for Central Government employees who have already opted for UPS, allowing them to revert to the NPS.
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However, the eligible employees under UPS can switch to NPS only once and cannot switch back to UPS.
The switch must be exercised at least one year before superannuation or three months before voluntary retirement, whichever is earlier.
The facility will not be allowed in cases of removal, dismissal, or compulsory retirement as a penalty, or where disciplinary proceedings are ongoing or contemplated.
Those who do not opt for the switch within the stipulated time will continue under the UPS by default.
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