Good news for government employees! Now easily do NPS from UPS. Paisa Live | Good News for Government Employees! Now switch from ups to nps easily

The government has made a major change in the pension system for central employees and provided the option of switch to NPS (National Pension System) from UPS (Non-Fraced Old Pension Scheme). Now the employees who are in the UPS can transform the NPS until one year before retirement or for three months before taking a voluntary retirement (VRS). However, after coming to NPS from UPS, there will be no guaranteed pension facility, but the employees will get a big benefit – the government will add an additional 4% contribution to their NPS account. After this, the pension will be given completely according to the NPS rules. The benefit of this new facility will be available only to those employees on which no departmental inquiry is going on and which have not been terminated. If the option of switch is not chosen till the stipulated timeframe, then the employees will remain in the UPS by default. This step of the government is a big effort to make the pension process transparent, flexible and more beneficial for employees. This decision is considered very important for future financial security.