NPS to OPS

The Indian government has confirmed that there will be no extension of the deadline for central government employees to switch from the National Pension System (NPS) back to the Old Pension Scheme (OPS). Union Minister Jitendra Singh stated that the deadline for employees to submit their switch option was August 31, 2023, with the appointing authority having until November 30, 2023, to make decisions on these applications. The NPS, which became mandatory for new recruits on January 1, 2004, replaced the OPS, which provided fixed pension benefits. Following court rulings, a one-time option was provided for employees appointed before the NPS notification, but many are still seeking an extension to benefit from the OPS. The government has reiterated that no further instructions or extensions will be issued regarding this matter.