New Delhi, Aug. 25 -- The Centre has decided to allow its employees who have selected the Unified Pension Scheme (UPS) a one-time, one-way switch facility to the National Pension Scheme (NPS).
The switch facility may be exercised by UPS optees any time a year prior to the date of superannuation or three months before to the deemed date of retirement in case of voluntary retirement, said an office memorandum of the Department of Financial Services, ministry of finance.
If the switch facility not exercised within the deadlines, the employee shall continue under UPS by default, it said.
Similar provisions will be made for resignations and cases of Rule 56J, with minor modifications as necessary, the office memorandum said.
Rule 56(J) is ...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.