Unified Pension Scheme option creates assured payouts with individual and pooled corpuses under NPS, subject to qualifying service and transfers. Introduction of a Unified Pension Scheme option within the National Pension System for Central Government employees covered by NPS, effective 1 April 2025. The scheme provides Assured Payout on superannuation after specified qualifying service thresholds, excludes removal/dismissal/resignation, and combines an individual corpus (employee 10% + matching employer 10%) with a Government-funded pool corpus (additional contribution) to support payouts. Employees may choose investment options for the individual corpus under PFRDA regulation; a benchmark corpus computed by PFRDA determines transfers to the pool corpus at retirement to authorise assured payouts, with proportional payouts for shortfalls and specified family, dearness relief and lump sum provisions.
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Provisions expressly mentioned in the judgment/order text.
Unified Pension Scheme option creates assured payouts with individual and pooled corpuses under NPS, subject to qualifying service and transfers.
Introduction of a Unified Pension Scheme option within the National Pension System for Central Government employees covered by NPS, effective 1 April 2025. The scheme provides Assured Payout on superannuation after specified qualifying service thresholds, excludes removal/dismissal/resignation, and combines an individual corpus (employee 10% + matching employer 10%) with a Government-funded pool corpus (additional contribution) to support payouts. Employees may choose investment options for the individual corpus under PFRDA regulation; a benchmark corpus computed by PFRDA determines transfers to the pool corpus at retirement to authorise assured payouts, with proportional payouts for shortfalls and specified family, dearness relief and lump sum provisions.
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