50 lakh govt employees offered 1-time switch to new pension scheme
The central government has allowed employees a one-time option to switch from the Unified Pension Scheme (UPS) to the National Pension System (NPS) by September 30, 2025. This switch is subject to specific conditions and is irreversible. Employees who opt for NPS will lose UPS benefits but gain market-linked returns, along with a 4% differential government contribution.