Employees can switch to NPS later only once and will be unable to switch back to UPS (Photo Source: Pixabay) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Central government employees face an important Sept. 30 deadline to choose between remaining under the existing National Pension System which is known as the NPS, or switching to the Unified Pension System or the UPS.

Under UPS, the employees will be eligible for an assured, inflation-index pension with a guaranteed minimum payout; whereas NPS is a market-linked scheme with potentially higher pensions, but comes along with risks.

The Pension Fund Regulatory and Development Authority (PFRDA) has issued rules and clarifications to guide their decision. The central government, on Sept. 2, enabled a one-time switch optio

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