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Lok Sabha clears bill giving UPS subscribers same tax breaks
The Lok Sabha just cleared a new bill that gives Unified Pension Scheme (UPS) subscribers the same tax breaks as those in the New Pension Scheme (NPS).
Passed without debate, the law updates old tax rules and aims to make retirement savings more attractive for a broader range of professionals.
Bill extends special tax benefits to Saudi Arabia's public investment fund
With this change, up to 60% of your UPS retirement payout is now tax-free—just like NPS. But if you cash out early, you'll still pay taxes.
The bill also extends special tax benefits to Saudi Arabia's public investment fund to pull in more foreign money for Indian infrastructure.
Experts say this move modernizes pension rules and could help more people feel confident about saving for their future.