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08 Aug, 2024 11:45 AM

No plan to increase time limit for switch from NPS to old pension`

No plan to increase time limit for switch from NPS to old pension`

The Centre on Wednesday informed Lok Sabha that there is no proposal to increase the time limit for central government employees to switch from the National Pension System to the old pension scheme, the government said on Wednesday.

NPS is mandatory for all new recruits in the central government service from January 1, 2004 (except the armed forces), MoS Jitendra Singh said in a written reply.

The NPS was introduced for central government employees in 2003.

The time limit for submission of option by employees was August 31, 2023, while the time limit for examination and decision on the option by appointing authority concerned was November 30, 2023, he added.

There is no proposal to issue any further instruction with respect to the order issued on March 3, 2023, the minister said.

On March 3, 2023 the Centre offered a one-time window to the central government civil employees to switch from the National Pension System (NPS) to CCS (Pension) Rules, 1972 (now 2021), which was popularly known as the old pension scheme.




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