Unlock guaranteed retirement security: Your guide to seamlessly switching to the unified pension scheme

The newly introduced Unified Pension Scheme (UPS) will begin on April 1, 2025. However, subscribers are wondering how they can switch to the National Pension System (NPS). No need to worry! Subscribers can easily transition to the UPS, which offers enhanced retirement benefits, including a guaranteed monthly pension.

Eligible central government employees can initiate the migration process online by visiting the official Central Recordkeeping Agency (CRA) portal at npscra.nsdl.co.in/ups.php. After accessing the portal, subscribers should select the "Migrate to UPS" option under the "Quick Links for Subscribers" section. They will then be prompted to enter their Permanent Retirement Account Number (PRAN) and date of birth to proceed.

After entering the required details, an OTP (One-Time Password) will be sent to the subscriber's registered mobile number or email for verification. Following successful verification, subscribers must complete an e-sign process using their Aadhaar credentials to finalize the migration.

Detailed instructions for this process are outlined in the Standard Operating Procedure document available on the website at npscra.nsdl.co.in website.

Sriram Iyer, CEO of HDFC Pension, said, “The tech architecture needed to ensure smooth adoption of UPS will need to be developed by the CRAs. We understand that they are already at advanced stages and have been collaborating with stakeholders to ensure the implementation of the necessary changes.”

“There are over 25 lakh central government employees currently enrolled in NPS. In addition, new employees are being recruited across various departments regularly. The entire NPS ecosystem, consisting of PFRDA, PFMs, CRAs, and nodal offices at government departments, will need to work in close coordination to ensure that employees are informed about the features and benefits of both options,” said Iyer.

For those preferring an offline method, physical migration forms (Form A2) can be downloaded from the CRA portal. Subscribers need to fill out this form and submit it to their respective nodal offices, such as the Drawing and Disbursing Officer (DDO) or Pay and Accounts Office (PAO), who will process the request accordingly.

Rajesh Khandagale, Senior Vice President of NPS at KFin Technologies, said, "UPS is for government employees, and KFintech will be ready with the necessary technology to fully implement it." The UPS aims to provide enhanced retirement benefits, including a guaranteed pension, family pension, and a secured minimum pension.

For further assistance, subscribers are encouraged to contact their respective nodal offices or visit the official CRA portal for more information.