Union Finance Minister approves extension of Life Cycle 75 (LC 75) and Balanced Life Cycle (BLC) options to Central Government Employees under NPS and UPS Scheme

Key Points

1. Extension of Life Cycle 75 (LC 75) and Balanced Life Cycle (BLC) options approved for Central Government Employees under NPS and UPS.
2. Employees can now choose from a range of investment options including a default option, Scheme G, LC-25, LC-50, BLC, and LC75.
3. LC75 allows a maximum equity allocation of 75%, tapering gradually from age 35 to 55.
4. BLC is a modified version of LC50, with equity allocation tapering from age 45.
5. Equity allocation in LC75 and BLC reduces to 15% and 35% respectively by age 55.
6. The decision aims to provide greater flexibility and choice to employees in managing their retirement corpus.