Overview

• UPS optees may exercise the switch no later than one year before superannuation or three months before the deemed date in voluntary retirement.
• The option is unavailable in cases of removal, dismissal, compulsory retirement as a penalty, or where disciplinary proceedings are ongoing or contemplated.
• Once exercised, the employee forfeits assured payouts and other UPS benefits, and the NPS Exit & Withdrawal Regulations, 2015 govern the account.
• If the switch is not used within the stipulated timelines, the employee continues under UPS by default.
• At the time of a switch, a computed 4% differential government contribution is credited to the individual’s NPS corpus; about 31,555 staff had opted into UPS by July 20 and the UPS opt-in window runs through September 30, 2025, with UPS assuring a pension equal to 50% of average basic pay over the final 12 months for 25 years’ service.