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The Department of Financial Services (DFS) on Tuesday issued a detailed set of Frequently Asked Questions (FAQs) clarifying the tax treatment of contributions and withdrawals under the Unified Pension Scheme (UPS).
The Department of Financial Services, Ministry of Finance vide its Notification dated 24.01.2025 had notified introduction of the Unified Pension Scheme (UPS) as an option under NPS for the recruits to the Central Government civil service w.e.f. 01.04.2025 giving one-time option to the Central Government employees covered under the National Pension System (NPS) for inclusion under the UPS.