New Delhi, July 4 -- In a bid to promote Unified Pension Scheme, the government has made necessary changes to provide tax benefits to employees opting for UPS at par with those under National Pension System (NPS).
The inclusion of UPS under the tax framework marks another step forward in the government's effort to strengthen retirement security for central government employees through transparent, flexible and tax-efficient options, the finance ministry said in a statement.
"The government has decided that tax benefits as available under NPS would apply mutatis mutandis to UPS as it is an option under NPS," it said.
These provisions ensure parity with the existing NPS structure and provide substantial tax relief and incentives to employe...