Central government employees pension alert! Govt issues new notification on NPS benefits

The government has come out with detailed guidelines for processing various benefits available to central government employees covered under the National Pension Scheme, the Department of Pension & Pensioners' Welfare (DoPPW) said in a notification.

The new defined contribution-based pension scheme was introduced through DEA on December 22, 2003: PTI

The government has come out with detailed guidelines for processing various benefits available to central government employees covered under the National Pension Scheme, the Department of Pension & Pensioners' Welfare (DoPPW) said in a notification.

"The compensation to be paid to the government servant in case of delay in registration and credit of contributions to the NPS Account, option for benefits under the CCS (pension) Rules or NPS Rules in the event of death or disability of Government servant during service, benefits payable on retirement on superannuation, premature retirement, voluntary retirement, absorption in autonomous body or PSU, etc." the new notification points out.

The new defined contribution-based pension scheme was introduced through Department of Economic Affairs on December 22, 2003. Thereafter the activities under the National Pension System that is of registration, contribution, investment, fund management, withdrawals, annuity among others were regulated by the PFRDA Act, 2013.

TRENDING NOW

However, there were several service matters pertaining the NPS employees which were not covered by the PFRDA Act. Therefore, in order to streamline the implementation of NPS, DoPPW initiated the proposal for framing of separate service rules for NPS employees.

Earlier the benefits of invalid pension, family pension on death during service, disability pension and extraordinary family pension were extended to NPS covered Government employees at par with the employees appointed before January 01, 2004, through DoPPW’s May 05, 2009 order.

Thereafter, the benefits of retirement gratuity and death gratuity have also been extended to all central government employees covered by NPS through DoPPW’s order dated August 26, 2016 on the same terms and conditions as are applicable under CCS(Pension) Rules.

TAGS:

National Pension Scheme central government employees