The government has extended the cut-off date to exercise choice for Unified Pension Scheme-UPS by two months, till 30th of November this year, for eligible existing employees, past retirees and legally wedded spouses of the deceased past retirees. Earlier, the last date was yesterday.
The Ministry of Finance, in a statement, said that various positive changes have been announced recently under UPS, including the switch option, benefits on resignation, compulsory retirement and tax exemptions.
The Ministry said that it received requests from various stakeholders that some more time needs to be given to employees to exercise the option in view of these changes. It added that, accordingly, the decision was taken to extend the cut-off date to exercise choice for UPS from 30th September to 30th November of this year.
