DFS Releases FAQs on UPS Tax Treatment
The Department of Financial Services (DFS) has published detailed FAQs regarding the tax treatment under the Unified Pension Scheme (UPS), which is applicable to new recruits in Central Government services from April 1, 2025, and offers existing employees an option to switch from the National Pension System (NPS). The FAQs aim to assist employees in understanding the benefits of UPS in relation to their retirement planning. The deadline for eligible employees and past retirees to opt for UPS is September 30, 2025.
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