• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Home
  • Allowances
  • Expected DA
  • CSD
  • DOPT
  • Pensioners Issues

CENTRAL GOVT EMPLOYEES NEWS

Quick updates for CG Staff and CG Pensioners

  • Holiday Homes
  • Holidays
  • Railway Board Orders
  • TA DA Rules

LATEST CENTRAL GOVERNMENT EMPLYOEES NEWS
Central Govt Holidays 2023 | Dopt Orders on Holidays 2023
34% DA Order for Central Govt Employees wef 01.01.2022 - Finmin Orders 2022
Revised Rates of HRA 27%, 18% and 9% from 01.01.2021 - Finmin Orders 2021
Central Government Holiday List 2022
KVS ONLINE ADMISSION 2022-23 FOR CLASS 1
KVS Admission Class 1 Lottery Merit List Result 2022 Date
KV Online Fee Payment 2022-23 | KV UBI Fee login (epay.unionbankofindia.co.in KV Fee)

LATEST CENTRAL GOVERNMENT PENSIONERS NEWS
Revised Rate 34% DR Order for Central Government Pensioners and Family Pensioners from 1.1.2022
Annual Increment Due on 1st July to the Employees Retiring on 30th June
Notional Increment on the Day of Superannuation
FR 56(j) of CCS (Pension) Rules age of 50 years or on Completion of 30 years of Service
Coverage under CCS (Pension) Rules CG employees appointment before and after 01-01-2004

Scrapping of National Pension System and extending coverage of the Old Pension Scheme under CCS Pension Rules 1972 for appointees on or after 01.01.2004

February 17, 2021

Scrapping of National Pension System and extending coverage of the Old Pension Scheme under CCS Pension Rules 1972 for appointees on or after 01.01.2004

Restoration of Old Pension Scheme-Reply from Under Secretary (Pension Reforms)

It is stated that due to the fiscal stress of the Old Defined Benefit Pension System, the Government of India decided to shift from the Old Pension Scheme to a Defined Contribution Pension Scheme, named as the National Pension System (NPS). NPS was made applicable for all the new entrants who joined Central Government service on or after 01.01.2004 (except the Armed forces). Subsequently, all State Governments excluding West Bengal have also switched to NPS for their employees.

Also Read: Coverage under Central Civil Services (Pension) Rules 1972 in place of NPS of those CG employees whose Appointment was Before 01-01-2004 and after 01-01-2004

F. No- FX-11/25/202C-PR Section

Government of India

09-02-2021

To
Shri Shiva Gopal Mishra,
Secretary, National Council (Staff Side), JCM
13-C, Ferozshah Road, New Delhi – 110001

Subject: Scrapping of National Pension System and extending coverage of the Old Pension Scheme under CCS (Pension) Rules, 1972 for appointees on or after 01.01.2004.

Sir,

Please refer to your representation No.NC/JCM/CS/NPS dated 28.09.2020 on the subject cited above.

2. In this connection, it is stated that due to the fiscal stress of the Old Defined Benefit Pension System, the Government of India decided to shift from the Old Pension Scheme to a Defined Contribution Pension Scheme, named as the National Pension System (NPS). NPS was made applicable for all the new entrants who joined Central Government service on or after 01.01.2004 (except the Armed forces). Subsequently, all State Governments excluding West Bengal have also switched to NPS for their employees.

READ ALSO: NPS to OPS – Abolition of National Pension System and for restoration of Old Pension Scheme

3. NPS is a considered policy decision of the Central Government for its employees and balances providing old age income security to the employees with managing fiscal burden of the Government on account of pensions and other developmental needs. NPS is being administered and regulated by Pension Fund Regulatory and Development Authority (PFRDA) set up under PFRDA Act. It is understood that NPS is a market-linked product wherein returns are linked to market performance and hence cannot be guaranteed. In fact, the PFRDA Act expressly lays down that there shall be no implicit or explicit assurance of benefits. However, the investments of the accumulated corpus under NPS are made in a prudential manner so as to ensure optimal returns.

Central Govt Holiday List 2023 PDF | Holiday Calendar 2023 India

4. With reference to the comparison between pension under NPS and Old Pension Scheme (OPS), it is mentioned that both the schemes are different in nature, structure and benefit, and hence, may not be compared. The OPS is a defined pension scheme of Govt, of India, whereas NPS is a contributory pension scheme without any defined benefits. The pension benefits under NPS depends on various factors like amount of contribution, entry- age, period of subscription, type of investment pattern opted by the subscriber, investment income accrued, percentage of total corpus utilized for Pension, Annuity option chosen and other relevant factors.

ALSO READ: Exemption of Railways from National Pension System – NFIR

5. The Central Government, keeping in view of the concerns of NPS subscribers, had constituted a high level Committee of Secretaries for streamlining of NPS. Based on the recommendations, the Government has taken various steps for streamlining of NPS for Central Government employees.

6. As on 31.12.2020, there are 13.99 million subscribers and over Rs. 5,34,188 crore of assets under management (AUM) under the NPS. The government employees, including both Central and State Government, account for more than half of the subscriber base and nearly 85 percent of the AUM. With a growing corpus, prudent investment norms and recent measures of the Government to streamline the NPS, it is expected that NPS would provide a comparable and decent replacement rate vis-a-vis Old Pension Scheme.

READ ALSO: NPS To OPS – Scrap NPS and Restore OPS to All CG Employees

7. Hope this addresses your concerns.

8. It is also reiterated that the restoration of Old Pension Scheme is not considered a feasible proposition in the current scenario.

Yours faithfully,

(Umesh Chandra)
Under Secretary (Pension Reforms)
Tele No. 2374 8758

Signed Copies

Read More: Withdrawal of NPS and reintroduction of Old Pension Scheme under CCS (Pension) Rules, 1972 to the Central Government Employees recruited on or after 01.01.2004.

Read More: Life Certificate by Banks from the Doorstep of the Pensioners

Read More: Counting of the limitation period for the diverse purposes under CCS (CCA) Rules, 1965, CCS(Pension) Rules, 1972

Read More: Coverage under CCS (Pension) Rules 1972, in place of NPS In terms of DOPPW OM dated 17.02.2020 – Clarification

Read More: Provision of Invalid Pension to Armed Forces Personnel before completion of 10 years of qualifying service

Related News:

  1. Old Pension Scheme for those who joined Govt Service under NPS during 1.1.2004 to 28.10.2009 after resignation from Pensionable Establishment
  2. Mobility of personnel amongst Central/ State & Autonomous Bodies while working under Pensionable establishments-MoD
  3. Coverage under Central Civil Services (Pension) Rules 1972 in place of NPS of those CG employees whose Appointment was Before 01-01-2004 and after 01-01-2004
  4. How to change Nomination in NPS account online | NPS Nominee Change
  5. Clarification about Changes made in the Tax Treatment for Recognised Provident Fund & National Pension System (NPS)
  6. NPS To OPS: Review of National Pension System in Kerala – Orders issued
  7. Gratuity for Central Government Employees Under NPS
  8. NPS On-boarding through Online PRAN Generation Module (OPGM) System
  9. Choice for Points of Presence (POPs) to integrate with Central Record Keeping Agencies (CRAs) for National Pension System (NPS)
  10. SCRAPPING OF NEW PENSION SCHEME

ALLOWANCE NEWS

Revision of Minimum Wages and Variable Dearness Allowance – Lok Sabha Q and A

IDA from July 2022 at 391% to CPSE Employees for 1997 Pay Scales

DA from July 2022 at 190.8% to CPSE Employees for 2007 Pay Scales

DA from July 2022 at Revised Rate 32.5% to CPSE Employees for 2017 Pay Scales

5th CPC Dearness Relief Order for CPF Beneficiaries from 01.01.2022

GDS Latest News

Review of the Scheme for Engagement of the Dependent of a Deceased GDS on Compassionate Grounds

June 7, 2022 By admin Leave a Comment

34 Percent DA Order to GDS Employees wef 1.1.2022

April 12, 2022 By admin Leave a Comment

Revised GDS Online Engagement Process wef 4th Week of January 2022

January 24, 2022 By admin Leave a Comment

Enhancement of Rs. 20,000/- to Rs. 50,000/- to GDS Employees Suffering from COVID-19

November 25, 2021 By admin Leave a Comment

Review of Security Amount to be Furnished by the Gramin Dak Sevaks (GDS)

November 22, 2021 By admin Leave a Comment

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar




Central Govt Employees News

7th CPC Pay Matrix Table for Central Government Employees
7th CPC Defence Pay Matrix Chart
7th Pay Commission Children Education Allowance
7th CPC House Rent Allowance
Bank Holiday List 2022 India
BSNL Office Holiday List 2022
Central Government Holidays 2022 PDF
CGHS Holidays 2022
ESIC Holiday List 2022
Indian Customs Office Holiday List 2022
Tamil Nadu Government Holidays 2022 (G.O) Order
Central Government Employees Festival Advance
CGHS Hospital List 2022
DA Chart for CG Employees and Pensioners
DoPT Orders Circulars 2022
ECHS Empanelled Hospitals and Nursing Homes
Freezing of Dearness Allowance and Dearness Relief
Holiday Homes List 2022
Indian Post Office Holiday List 2022
Indian Passport Office Holidays 2022
50 New Kendriya Vidyalaya in India
KVS Holiday Calendar 2022-23
Railway Board Orders 2022
Sainik School List in India 2022

DA LATEST NEWS 2022

Increase in DA / DR to Government Employees and Pensioners

IDA from July 2022 at 391% to CPSE Employees for 1997 Pay Scales

DA from July 2022 at 190.8% to CPSE Employees for 2007 Pay Scales

DA from July 2022 at Revised Rate 32.5% to CPSE Employees for 2017 Pay Scales

Revision of Rate of VDA for Contract Workers wef 01.04.2022- Railway Board Orders 2022

FAQ on LTC Cash Voucher Scheme

LTC Cash Voucher Scheme Calculator
LTC Cash Voucher Scheme and Leave Encashment for Central Govt Employees
FAQ No 1 Special LTC Cash Package Scheme – 20.10.2020
FAQ No 2 Special LTC Cash Package Scheme – 10.11.2020
FAQ No 3 Special LTC Cash Package Scheme – 25.11.2020
FAQ No 4 Special LTC Cash Package Scheme – 10.03.2021
LTC Cash Voucher Scheme for Defence Armed Forces Personnel
Grant of 4 Times LTC Scheme Eligible for Fresh Recruits of Central Govt Servants




Recent Comments on KVS Admission 2022-23

  • Lakshmanan on CGHS Bangalore Hospital List 2022
  • sk bora on AILTC of Current Block of 4 Years 2018-2021 Carry Over to the First Year of Next Block Availed within the Year 2022
  • P K Sharma on AILTC of Current Block of 4 Years 2018-2021 Carry Over to the First Year of Next Block Availed within the Year 2022
  • admin on E-Sampada New Web Portal and Mobile App – Bring Uniformity In Systems Across India
  • pankaj on E-Sampada New Web Portal and Mobile App – Bring Uniformity In Systems Across India
  • Debabrata Acharya on AILTC of Current Block of 4 Years 2018-2021 Carry Over to the First Year of Next Block Availed within the Year 2022
  • Tandra on Time Limit For Submission of Medical Claim under CGHS
  • Renu on Guidelines on Limited Transfer Facility for All Category of GDS
  • admin on CGHS Delhi Hospital List 2022
  • Rashmi on CGHS Delhi Hospital List 2022

Copyright © 2022 - Central Govt Employees News - cgstaffportal.in - Log in