Annuity based alternate pension proposal for the employees of NVS prior to 1.1.2004 F. No. 3-1/2018 -NVS(Admn)/3584 Date :o4/12/2018 To, The Deputy Commissioner, All Regional Offices Sub:  Annuity based alternate pension proposal for the employees of NVS prior to 1.1.2004 – reg . Sir, In continuation to this office letter of even number dated 06.12.2018 seeking willingness of the employees with regard to introduction of alternate annuity based pension, it is to clarify the following:- 1. Own share of employee in the existing CPF scheme shall remain intact. It will not be utilized for creating the corpus fund of the alternate pension plan. 2. However, the management share of the existing CPF scheme will be utilized to form the corpus fund for the proposed annuity based pension scheme. 3. Proposed basic pension is 50% of the basic pay at the time of retirement and there is no provision for DA thereon. 4. Provision for commutation of pension upto 1/3rd of the basic ...