Tuesday, June 28, 2022
HomeFinanceCentral employees will now be able to choose between NPS and OPS!...

Central employees will now be able to choose between NPS and OPS! but there is a condition

NPS is a government retirement savings scheme, which was launched by the central government in the year 2004. From the year 2009 onwards, this scheme was also opened to people working in the private sector.



New Delhi.Central Government employees who are covered under the National Pension System (NPS) can opt for either the old Pension Scheme (OPS) or the NPS (NPS) for the benefit to the next of kin in case of death in service. be able to choose. But this option will have to be chosen by the employee himself during the service, which option he has to take advantage of. After the death of the employee, the relatives of the deceased employee will not be able to choose this option. If the central employees will not be able to choose either of the two options, then they will get the benefit under the old pension scheme for the first 15 years of service. After that i.e. after 15 years of service, they will automatically start getting benefits under NPS. As of now, the situation is not clear about opting for the old pension scheme till March 2024, even if the employee has completed more than 15 years of service.

What is National Pension System

NPS is a government retirement savings scheme, which was launched by the central government in the year 2004. From the year 2009 onwards, this scheme was also opened to people working in the private sector.

Now without documents given home Khulwaan NPS account



has been recently PFRDA said, ‘digital service to its efforts PFRDA already e-feature signature through open online NPS account paperless way solution. To further ease the process of opening NPS account, PFRDA has now allowed subscribers to open APS account through One Time Password (OTP) also. In this process, customers of banks (Registered POPs- Point of Presence), who wish to open NPS account through Internet Banking of respective banks, can open such accounts using the OTP received on their registered mobile number.

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