Tax Benefits for Unified Pension Scheme Announced

The Ministry of Finance has announced that tax benefits available under the National Pension System (NPS) will also apply to the newly introduced Unified Pension Scheme (UPS) for Central Government employees. This decision aims to provide substantial tax relief and incentives, ensuring parity with the existing NPS structure. The UPS will be operational from April 1, 2025, following the notification by the Department of Financial Services and the Pension Fund Regulatory and Development Authority (PFRDA).

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