The Pension Fund Regulatory and Development Authority (PFRDA) on December 24, 2025, issued the Pension Fund Regulatory and Development Authority (Operationalisation of Unified Pension Scheme under National Pension System) (Amendment) Regulations, 2025, to further amend the Pension Fund Regulatory and Development Authority (Operationalisation of Unified Pension Scheme under National Pension System) Regulations, 2025.
The following has been stated namely: -
• Regulation 3A which states “One-time Switch Facility” has been inserted namely: -
“A subscriber who has exercised an option for UPS under NPS shall be permitted to exercise a one-time switch facility to revert to the National Pension System (NPS) at any time during the service of the Subscriber, but not later than:
(i) Twelve months prior to the date of superannuation
(ii) Three months prior to the deemed date of voluntary retirement”
• Regulation 13A which states “Benefits payable in respect of a UPS subscriber, who has died while in service or discharged from service on account of invalidation or disability” has been inserted.
• Regulation 13B which states “Nomination” has been inserted.
• For A1 which states “NIFIED PENSION SCHEME (UPS) – SUBSCRIBER REGISTRATION FORM” has been substituted.
This shall come into force on December 24, 2025.
[Notification No. PFRDA-16/07/0001/2025-SUP-CG]
