14 percent of the Basic Pay plus DA by the Central Government Contribution in NPS – Gazette Notification The monthly contribution would be 10 percent of the Basic Pay plus Dearness Allowance (DA) to be paid by the employee and 14 percent of the Basic Pay plus DA by the Central Government MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New Delhi, the 31st January, 2019 F. No. 1/3/2016-PR – In partial modification of para 1(i) of Ministry of Finance’s Gazette Notification No. 5/7/2003-ECB-PR dated 22nd December, 2003, based on the Government’s decision on 6th December, 2018 on the recommendations of a Committee set up to suggest measures for streamlining the implementation of National Pension System (NPS), the Central Government makes the following amendments in the said notification, namely :- (1) In para 1(i) of the said notification, for the words “The monthly contribution would be 10 percent of the salary and DA to be paid by the employee and matche...

Nationwide protest by Central Government employees against National Pension Scheme (NPS) on 13.03.2019 : DoPT Orders 2019 MOST IMMEDIATE OUT TODAY No.45018/1/2017-Vig. Government of India Ministry of Personnel, P.G. & Pensions Department of Personnel & Training North Block, New Delhi, Dated the 05th March, 2019 Subject:   Proposed Nationwide Dharna/Demonstration by National Joint Council of India (NJCA) on 13th March, 2019 against National Pension Scheme (NPS) – Instructions under CCS (Conduct Rules), 1964 – Regarding. 1. It has been brought to the notice of the Government that a forum by the nomenclature of National Joint Council of Action (NJCA) has decided to organize Dharna/Demonstrations in front of Jantar Mantar, New Delhi and all across the country on 13th March, 20 19 in order to protest against New Pension Scheme (NPS). 2. The instructions issued by the Department of Personnel and Training prohibit the Government servants from participating in any form...

ational Pension Scheme: Good News for central government employees! Government contribution to NPS to rise to 14% of basic salary In a bonanza for government employees, the Cabinet Thursday raised the government’s contribution to National Pension Scheme (NPS) to 14 per cent of basic salary from the current 10 per cent, sources said. Minimum employee contribution will, however, remain at 10 per cent. The Cabinet also approved tax incentives under 80C of the Income Tax Act for employees’ contribution to the extent of 10 per cent, they added. Presently, the government and employees contribute 10 per cent of basic salary each to NPS. While the minimum employee contribution remains at 10 per cent, the government contribution has been increased from 10 per cent to 14 per cent. The Cabinet, headed by Prime Minister Narendra Modi, also allowed government employees to commute 60 per cent of the fund accumulated at the time of retirement, up from 40 per cent at present. Also, employees will...

Proceeding on adoption of Resolution on Abolishing NPS (Brief summary of proceedings) Monday, 26 November 2018 / 05 Margshirsha 1940 (Saka) No. 91 10. 6.51 PM Calling Attention (Rule-54) : Shri Ajay Dutt called the attention of the Government towards “ Abolishing National Pension System (NPS) and reinstate the old Pension System in the interest of lakhs of Government Servants “. Sh. Arvind Kejriwal, Hon’ble Chief Minister made a brief statement. The following Resolution moved by Sh. Ajay Dutt was put to vote and adopted by voice-vote : “ The Legislative Assembly of NCT of Delhi, having its sitting on 26 November 2018 : Taking note of the negative consequences of the anti-employee National Pension System (NPS) that is imposed on the Government Servants by the then NDA Government in 2004 and sustained by the UPA-I, UPA-II and NDA-II Governments, Given the fact that, unlike the old pension scheme, the NPS : does not give any guarantee to the employees either for ass...

NATIONAL PENSION SYSTEM The National Pension System works on defined contribution basis and will have two tiers – Tier-I and II. Contribution to Tier-I is mandatory for all Government servants joining Government service on or after 1-1-2004 (except the armed forces in the first stage), whereas Tier-II will be optional and at the discretion of Government servants. In Tier-I, a Government servant will have to make a contribution of 10% of his basic pay plus DA, which will be deducted from his salary bill every month by the PAO concerned. The Government will make an equal matching contribution. However, there will be no contribution from the Government in respect of individuals who are not Government employees. Tier-I contributions (and the investment returns) will be kept in a limited partial withdrawable Pension Tier-I Account. Tier-II contributions will be kept in a separate account that will be withdrawable at the option of the Government servant. Government will not make any co...

Ministry of Finance Partial Withdrawal under NPS 06 MAR 2018 The Pension Fund Regulatory Development Authority (PFRDA) has relaxed the norms for partial withdrawal under the National Pension Scheme (NPS). In accordance with the PFRDA (Exits and Withdrawals under the National Pension System) (First Amendment) Regulations 2017, the subscriber ought to be subscribed to the National Pension System, at least for a period of three years from the date of his or her joining to such system, to be eligible to make partial withdrawals, under specific circumstances as specified in such regulations. The NPS subscribers can withdraw after three years from the date of joining the system and a maximum of three times during the entire tenure of subscription under NPS, but the partial withdrawal is linked with contributions made by the subscriber. The subscriber shall be permitted to withdraw accumulations not exceeding twenty-five per cent of the contributions made by him or her and standing to his or ...

Ministry of Finance Partial Withdrawal under NPS 06 MAR 2018 The Pension Fund Regulatory Development Authority (PFRDA) has relaxed the norms for partial withdrawal under the National Pension Scheme (NPS). In accordance with the PFRDA (Exits and Withdrawals under the National Pension System) (First Amendment) Regulations 2017, the subscriber ought to be subscribed to the National Pension System, at least for a period of three years from the date of his or her joining to such system, to be eligible to make partial withdrawals, under specific circumstances as specified in such regulations. The NPS subscribers can withdraw after three years from the date of joining the system and a maximum of three times during the entire tenure of subscription under NPS, but the partial withdrawal is linked with contributions made by the subscriber. The subscriber shall be permitted to withdraw accumulations not exceeding twenty-five per cent of the contributions made by him or her and standing to his or ...