Central Government Employees Can Claim Additional Benefits Under UPS — Check How

Those who qualify for these additional benefits are central government NPS subscribers with minimum 10 years of qualifying service.

Those who qualify for these additional benefits are central government NPS subscribers with minimum ten years of qualifying service. (Photo source: Envato)

Retired central government NPS subscribers with minimum 10 years of service qualify to claim additional benefits under the Unified Pension Scheme. These benefits will be over and above the already claimed NPS benefits, according to a Press Information Bureau release on Friday.

Those who qualify for these additional benefits are central government NPS subscribers with minimum 10 years of qualifying service, who retired on or before March 31. The last date to claim these benefits will be June 30, according to the release.

Additional Benefits Under UPS

There are three additional benefits that can be claimed under the UPS.

The first one is lumpsum payment of the one-tenth of the last drawn basic pay and dearness allowance. This will be applicable for each completed six months of qualifying service.

"Monthly top-up amount is calculated based on admissible UPS payout dearness relief minus representative annuity amount under NPS," outlined the release.

The third benefit will be arrears with simple interest, as per applicable PPF rates.

Also Read: New NPS Guidelines Issued — All You Need To Know

How To Claim The Additional Benefits

The UPS benefits can be claimed through two modes. First is the physical mode where qualifying individuals can visit the DDO and submit the required form.

Subscribers are to fill Form B2, while legally wedded spouses can fill forms B4 or B6 as applicable. The form can also be downloaded from the UPS website. In the online mode, users can visit www.npscra.nsdl.co.in/ups.php to fill the online form.

Also Read: ⁠Income Tax: NPS Vs PPF Vs EPF — Where To Invest More Before The Financial Year Ends?

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Ann Jacob tracks markets with a special focus on personal finance. She clos... more
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