Showing posts with label National Pension System (NPS). Show all posts
Showing posts with label National Pension System (NPS). Show all posts

Wednesday, February 14, 2024

Coverage under Central Civil Services (Pension Rules, in place of National Pension System (NPS), of those Central Government employees who were recruited against the posts/ vacancies advertised/ notified for recruitment, on or before 22.12.2003

Coverage under Central Civil Services (Pension Rules, in place of National Pension System (NPS), of those Central Government employees who were recruited against the posts/ vacancies advertised/ notified for recruitment, on or before 22.12.2003

Coverage under Central Civil Services (Pension Rules, in place of National Pension System (NPS), of those Central Government employees who were recruited against the posts/ vacancies advertised/ notified for recruitment, on or before 22.12.2003

 Click the below link to view

https://utilities.cept.gov.in/dop/pdfbind.ashx?id=9394

  








Friday, December 8, 2023

Wednesday, November 8, 2023

Monday, November 6, 2023

  Systematic Lump sum Withdrawal (SLW) for NPS Subscribers : Provision of option of phased withdrawal of the lump sum at the time of exit – PFRDA Circular dated 27-10-2023

Systematic Lump sum Withdrawal (SLW) for NPS Subscribers : Provision of option of phased withdrawal of the lump sum at the time of exit – PFRDA Circular dated 27-10-2023

पेंशन निधि विनियामक एव विकास प्राधिकरण
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

Circular

Circular no: PFRDA/2023/30/SUP-CRA/10

27th Oct, 2023

To
All NPS Stake Holders

Subject: Facility of Systematic Lump sum Withdrawal (SLW) for NPS Subscribers

As per the existing exit guidelines, the subscribers post 60 years/superannuation can defer availing of annuity & withdrawing the lump sum on any combination till 75 years of age. The lump sum amount can be withdrawn in a single tranche or it can be withdrawn on an annual basis. If withdrawn annually, the Subscriber has to initiate the withdrawal request each time and authorized.

2. In accordance with Regulation 3 and Regulation 4 of PFRDA (Exits and Withdrawals under the NPS) Regulations, 2015 and amendments therein, it is proposed to provide the option of phased withdrawal of the lump sum through Systematic Lump Sum Withdrawal (SLW) facility. The subscribers are allowed to withdraw up to 60% of their pension corpus, through the SLW on a periodical basis viz. monthly, quarterly, half-yearly or annually for a period till 75 years of age as per the choice at the time of their normal exit.

3. All Nodal offices, Points of Presence, NPST and Corporate can disseminate the information about SLW for the associated Subscribers who superannuate or reaching the age of 60 years and plan to exit from NPS. Central Record Keeping Agencies (CRAs) can publish FAQs and release educational podcasts on SLW, highlighting its benefits and explaining the process of initiating SLW on their websites and social media platforms.

This circular is issued in exercise of powers conferred under section 14 (1) of The Pension Fund Regulatory & Development Authority Act, 2013.

Digitally signed by
K MOHAN GANDHI
Chief General Manager

 


Thursday, October 26, 2023

 Options for inclusion under the CCS (Pension) Rules – NPS to OPS to those employees who have who have joined Central Government service on mobility  : DoP&PW OM dated 20.10.2023

Options for inclusion under the CCS (Pension) Rules – NPS to OPS to those employees who have who have joined Central Government service on mobility : DoP&PW OM dated 20.10.2023

Options for inclusion under the CCS (Pension) Rules – NPS to OPS to those employees who have who have joined Central Government service on mobility from Central Government/State Government / autonomous body service : DoP&PW OM dated 20.10.2023

No.-57/03/2022-P&P W(B)/8361 (2)
Government of India
Ministry of Personnel, Public Grievances and Pensions
Department of Pension and Pensioners’ Welfare
***

3 Floor, Lok Nayak Bhavan, Khan Market,
New Delhi, Dated the 20th October, 2023

Subject: Inclusion under the Central Civil Services (Pension) Rules, 1972 ( now 2021) in accordance with DoPPW OM dated 03.03.2023 to those employees who have joined Central Government service on mobility from Central Government/State Government / autonomous body service- reg.

The undersigned is directed to say that the Department of Pension and Pensioners’ Welfare administers pension related policy matters in respect to Central Government civil  employees. This Department has issued instruction vide OM No. 57/05/2021-P&PW(B) dated 03.03.2023 giving one time option to the Central Government civil employee for inclusion under the CCS(Pension) Rules, 1972 ( now 2021) who has been appointed against a post or vacancy which was advertised/ notified for recruitment/ appointment prior to notification for National Pension System i.e. 22.12.2003. As per para 7 of this OM, it is for the appointing authority of the post against which such option has been exercised to examine and decide applicability of these instructions.

2. References have been received seeking clarification on applicability of aforesaid instructions dated 03.03.2023 to the Central Government employees who fulfils conditions of these instructions in their previous service rendered in State Government / autonomous bodies and thereafter joined Central Government service on or after 01.01.2004 after submitting technical resignation from previous service.

3. It is, therefore, clarified that the instructions issued vide OM dated 03.03.2023 are applicable to Central Government civil employees. Central Government employees who are included under CCS(Pension) Rules, 1972 in terms of OM dated 03.03.2023 for their appointment against any post / service in Central Government and moved to another Central Government service through proper channel would continue to be governed under the CCS(Pension) Rules, 1972.

4. However, the case of employee of the State Government / autonomous body moved to Central Government service on or after 01.01.2004 after tendering technical resignation from their previous service would examined as a case of counting of past service on mobility to Central Government service on or after 01.01.2004. Therefore, these cases would be examined in terms of this Department’s OM dated 28.10.2009.

(S. Chakrabarti)
Under Secretary to the Govt. of India

To
All Ministries/Departments/Organisations,
(As per standard list)

Wednesday, October 25, 2023

NATIONAL PENSION SYSTEM (WITHDRWAL AND EXIT), 2015 : Short Notes

NATIONAL PENSION SYSTEM (WITHDRWAL AND EXIT), 2015 : Short Notes

Respected SA Post Viewers and Candidates of Inspector Post Examination and PS Group B Examination!

Contribution to New Pension Scheme from 01.04.2019:

Contribution from Government servant is 10% of Pay +DA

Contribution from Government is 14% of Pay +Da

 

NATIONAL PENSION SYSTEM (WITHDRAWAL AND EXIT), 2015

 

NPS Withdrawals
1. 
NPS withdrawal is allowed but only after three years from the date of joining.

 

2.  Subscribers are permitted to withdraw not exceeding 25% of the contributions made only by subscriber.

3. The subscribers are allowed for partial withdrawal for the higher education of children, marriage of children, construction /purchase of flat (having no house previously) and for medical treatment for subscriber, spouse, children and dependent parents.

4. Maximum of 3 withdrawals during the entire tenure are allowed.5. Minimum gap of 5 years is required between the two withdrawals. However, this condition is relaxed for treatment of specified illness.

General:

1.  CRA means: Central Recordkeeping Agency

     PFM ,means  Pension Fund Managers         

     Defer means the postponement of claim for receiving benefits   

                       admissible to the subscriber upon exit  from NPS.

 

2. At superannuation: minimum 40% -Annuity & 60 % Home taken

    Before At superannuation: minimum 80% -Annuity & 20 % Home taken

3. The subscriber can opt for any type of Annuity Service Provider.

4. After purchase of Annuity, balance amount can be deferred up to 70 years provided he should intimate the Authority 15 days before superannuation.

5. Purchase of annuity can be deferred for maximum 3 years from superannuation  provided he should intimate the Authority 15 days before superannuation. During these three years, the subscriber dies, the spouse should purchase annunity which provides pension.

6. A subscriber to NPS will have the option to withdraw the entire accumulated pension wealth without purchasing any annuity on superannuation, if the accumulated pension wealth of the subscriber is equal to or less than Rs. Two lakh.

7.  (i) A subscriber can continue his Tier I account even after closure of Tier II account  (ii)   Tier II account  shall stand automatically closed at the time of exit from National Pension System. A subscriber cannot continue his Tier II account after closure of Tier I account.

 

Service Discharge Benefit Scheme, 2011 for GDS

1. This scheme shall utilize the platform of NPS-Lite Scheme.

2. On attaining the age of normal discharge

                             Minimum 40% -Annuity &  60 % Home taken

3. On attaining the age of 58 years

                             Minimum 80% -Annuity &  20 % Home taken

4. Resignation before normal exit,

                             Minimum 85% -Annuity & 15 % Home taken

 

WELFARE SCHEMES TO DEPARTMENTAL EMPLOYEES

 

Details

Amount

Financial assistance provided to Departmental Employees from the Welfare Fund in case of death due to attack by terrorist activity / robbers while on duty

Rs. 75,000/-

Financial assistance provided to Departmental Employees from the Welfare Fund in case of death due to attack by robbers while not on duty

Rs. 15,000/-

Financial Assistance in case of death of Postal employee

Rs. 10,000/-

Financial Assistance in case of death of Postal employee while on duty due to accidents

Rs. 15,000/-

Financial Assistance in case of natural calamities, fire and floods

Rs.4,500/-

Financial Assistance in case of prolonged and serious illness ,  major surgeries for Postal employee (Head of Circles from Circle Welfare Fund under discretionary power)

Rs.10,000/-

 

Opening and running of Creches:-

 

(1) The objective of the scheme is to take assistance of the Postal Ladies Organisations to organize good quality, safe and convenient child care services for the children of employees of Department of Posts if possible for children for other Government Organizations.

 

2. Creches are to be developed to provide group day-care facilities for children from 6 months to 10 years including first-aid, sleeping and recreation facilities.

 

3. Creches should be operated on no profit and no loss basis. A non-recurring grant of Rs. 60,000/-will be provided to Postal Woman Organization  from Cental Welfare Fund through Heads of Circle for starting a creche  with all facilities.

 

4. A recurring grant of Rs. 1,500/- per child per month subject to a maximum  grant of Rs. 38,000/- per month for each crèche will also be provided from Circle Welfare Fund.

 

By

P.Karunanithy Retired SPOs (Cell 9384329681)

Regulation of remuneration in case of contract appointment of Central Government Employees who retire under National Pension System(NPS): DoE

Regulation of remuneration in case of contract appointment of Central Government Employees who retire under National Pension System(NPS): DoE

Regulation of remuneration in case of contract appointment of Central Government Employees who retire under National Pension System(NPS): DoE, FinMin OM dated 18.10.2023

No. 03-25/2020-E.III(A) / Pt
Government of India
Ministry of Finance
Department of Expenditure

North Block, New Delhi
Dated: 18th  October, 2023

OFFICE MEMORANDUM

Sub: Regulation of remuneration in case of contract appointment of Central Government Employees- Regarding

The undersigned is directed to invite attention to this Department’s OM of even No. dated 9.12.2020 on the subject mentioned above and to say that the provisions contained in paragraph 6 thereof relating to fixation of remuneration governs the cases of those Central Government employees who retired with pension in terms of CCS(Pension) Rules, 1972 (now replaced by CCS(Pension) Rules, 2021).

2. The question of fixation of remuneration in respect of those central Government employees who retire under National Pension System(NPS), consequent upon their appointment on contract basis, has been considered. The case of such employees is altogether different from those governed by the CCS(Pension) Rules, 2021, as in the case of former annuity is admissible, which is based on the pension corpus accumulated at the time of retirement on the basis of contributions made by the Central Government and the employees during the service span of these employees. Therefore, annuity drawn by such employees is an outcome of contributions made by both the Central Government and the employees, unlike the case of those retiring under the CCS(Pension) Rules, 2021 where the entire pension is paid by the Central Government.

3. In the light of the above, it has been decided that while fixing remuneration in such cases in case of Central Government retirees under the NPS, an amount equivalent to 30% of the last basic pay as drawn at the time of retirement shall be deducted from the last basic pay and the resultant amount shall be the fixed monthly amount as remuneration

4. In respect of all other matters contained in paragraphs 5, 6.3, 7, 8, 9 of the aforesaid OM dated 9.12.2020 shall equally apply in all such cases.

5. These orders shall take effect from the date of issue of orders.

Sd/-
(Umesh Kumar Agarwal)
Deputy Secretary to the Govt. of India

To,
All the Ministries and Departments of the Government of India as per the standard list.