Government Expands Retirement Investment Options for Central Employees

The government has announced new investment opportunities for Central Government employees, expanding options under the National Pension System (NPS) and the Unified Pension Scheme (UPS). This development is intended to offer employees greater control over their retirement planning.

The finance ministry states that this expansion aligns with the wishes of Central Government employees seeking a broader range of investment options, similar to those available to non-government subscribers. The added choices include various life cycle schemes designed to accommodate individual retirement preferences.

Central Government employees can now choose from a selection of investment options, including the Default option, dictated by the Pension Fund Regulatory and Development Authority (PFRDA). Additional schemes involve differing levels of equity exposure and age-based tapering, providing versatile strategies for managing one's retirement corpus.