PFRDA Issues Guidelines for Unified Pension Scheme (UPS) under NPS

Current Context: On March 19, 2025, the Pension Fund Regulatory and Development Authority (PFRDA) issued guidelines for the Unified Pension Scheme (UPS) under the National Pension System (NPS).

• These guidelines aim to streamline and unify the pension structure for Central Government employees.
• The UPS, effective from April 1, 2025, integrates the current NPS framework while setting consistent standards for employees, including existing personnel, new recruits, and retirees under specified conditions.
• Its primary goals are to enhance transparency, ensure equitable pension benefits, and promote financial security post-retirement.

Question:

Q.1 Which organization issued the guidelines for the Unified Pension Scheme (UPS) under the National Pension System (NPS)?
a) Reserve Bank of India (RBI)
b) Employees’ Provident Fund Organisation (EPFO)
c) Pension Fund Regulatory and Development Authority (PFRDA)
d) Ministry of Finance

Answer: c) The Pension Fund Regulatory and Development Authority (PFRDA), which regulates the National Pension System (NPS), issued the guidelines for the Unified Pension Scheme (UPS).