WARM GREETINGS OF RAM NAVAMI

 “ON THE AUSPICIOUS OCCASION OF RAM NAVAMI, WARM GREETINGS AND BEST WISHES” 

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DIFFERENCE OF UPS FROM OPS AND NPS:

RAJYA SABHA QA

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

DEPARTMENT OF FINANCIAL SERVICES

RAJYA SABHA

UNSTARRED QUESTION NO. 3440

ANSWERED ON TUESDAY, 01 APRIL, 2025/ 11 CHAITRA, 1947 (SAKA)

DIFFERENCE OF UPS FROM OPS AND NPS

3440. Shri Parimal Nathwani:

Will the Minister of Finance be pleased to state:

 

(a) the details of how the new Unified Pension Scheme (UPS) differs from the Old Pension Scheme (OPS) and/or the National Pension Scheme (NPS);

(b) the details of State Governments who have shown interests to implement the same in their respective States for their employees; and

(c) whether the Central Government mulls extending additional financial support etc to the State Governments that adopt the UPS, if so, the details thereof?

ANSWER

MINISTER OF STATE FOR FINANCE

(SHRI PANKAJ CHAUDHARY)

(a) Unified Pension Scheme (UPS) has been notified by the Government on 24.01.2025, as an option under National Pension System (NPS) with the objective of providing assured monthly payout after retirement to the Central Government employees covered under the NPS.

UPS is defined contribution scheme with elements of defined benefit. It relies on the regular and timely accumulation and investment of applicable contributions (from both the employee and the employer) for assured payout to the employees.

The Old Pension Scheme is a defined benefit non-contributory scheme, fully funded by Government. It is applicable to Central Government employees who have joined the service on or before 31.12.2003 The National Pension System (NPS) is a defined contribution-based scheme with market linked returns for post-retirement benefits. It is applicable to Central Government employees, except armed forces, who have joined the service on or after 01.01.2004

(b) and (c) The regulation of service conditions of State Government employees falls under the administrative domain of respective State Governments.

AMENDMENTS RELATED TO TAX DEDUCTION AT SOURCE (TDS) DEDUCTIONS UNDER VARIOUS SECTIONS OF INCOME TAX ACT 1961 NOTIFIED IN THE FINANCE ACT 2025 W.E.F. 01 APRIL, 2025(CLICK THE LINK BELOW TO VIEW)

https://utilities.cept.gov.in/dop/pdfbind.ashx?id=11648

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CIRCULATION OF AMENDMENT IN GOVERNMENT SAVINGS PROMOTION GENERAL RULES,2018. (CLICK THE LINK BELOW TO VIEW)

https://utilities.cept.gov.in/dop/pdfbind.ashx?id=11638

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INTER-CIRCLE TRANSFER IN THE CADRE OF INSPECTOR POSTS   (CLICK THE LINK BELOW TO VIEW)

https://utilities.cept.gov.in/dop/pdfbind.ashx?id=11645

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INTER-CIRCLE TRANSFER IN THE CADRE OF ASSISTANT SUPERINTENDENT OF POSTS

(CLICK THE LINK BELOW TO VIEW)

https://utilities.cept.gov.in/dop/pdfbind.ashx?id=11646

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CENTRALIZED CADRE MANAGEMENT OF IP/ASP- MODALITIES FOR REPATRIATION OF IP/ASP ON FIELD SERVICE TO APS      (CLICK THE LINK BELOW TO VIEW)

https://utilities.cept.gov.in/dop/pdfbind.ashx?id=11647

ALLOWING FEMALE AIS OFFICERS/PENSIONERS TO NOMINATE HER CHILD/CHILDREN FOR FAMILY PENSION IN PRECEDENCE TO HER HUSBAND.

(CLICK THE LINK BELOW TO VIEW)

https://dopt.gov.in/sites/default/files/DoPT%20Order%2028.03.2025%20-%20Family%20pension%20to%20children%20instead%20of%20husband.pdf

REVISION OF RATES OF DEARNESS ALLOWANCE TO CENTRAL GOVERNMENT EMPLOYEES - EFFECTIVE FROM 01.01 .2025 (CLICK THE LINK BELOW TO VIEW)

https://utilities.cept.gov.in/dop/pdfbind.ashx?id=11634

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PROCESSING OF RULE-38 TRANSFER REQUESTS FOR SKILLED ARTISANS, DRIVERS, ELECTRICIANS ETC. OF MMS UNITS   (CLICK THE LINK BELOW TO VIEW)

https://utilities.cept.gov.in/dop/pdfbind.ashx?id=11635

RATE OF INTEREST ON GPF AND OTHER SIMILAR FUNDS FOR Q1 OF FY 2025-2026 W.E.F. 01ST APR, 2025: FIN MIN RESOLUTION DATED 01.04.2025

 

(TO BE PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)

F.NO. 5(3)-B(PD)/2023

Government of India

Ministry of Finance
Department of Economic Affairs

(Budget Division)

New Delhi, the 01 April, 2025

RESOLUTION

It is announced for general information that during the year 2025-26, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.1% (Seven-point one percent) w.e.f. 1st April, 2025 to 30th June, 2025, this rate will be in force w.e.f. 1st April, 2025. The funds concerned are:

 

1. The General Provident Fund (Central Services).
2. The Contributory Provident Fund (India).
3. The All-India Services Provident Fund.
4. The State Railway Provident Fund.
5. The General Provident Fund (Defence Services).
6. The Indian Ordnance Department Provident Fund.
7. The Indian Ordnance Factories Workmen’s Provident Fund.
8. The Indian Naval Dockyard Workmen’s Provident Fund.
9. The Defence Services Officers Provident Fund.
10. The Armed Forces Personnel Provident Fund.

Previous: Rate of Interest on GPF and other similar funds for Q4 of FY 2024-2025 Jan-Mar, 2025: Fin  Min Resolution

2. Ordered that the Resolution be published in Gazette of India.

(Aghish Vachhani)
Additional Secretary to the Govt. of India

REVISION OF RATES OF DEARNESS ALLOWANCE TO CENTRAL GOVERNMENT EMPLOYEES EFFECTIVE FROM 01.01.2025   (CLICK THE LINK BELOW TO VIEW)

https://doe.gov.in/files/whats_new_documents/02042025.pdf