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NPS and APY subscribers have crossed 1.60 crores

By
igeadmin
-

NPS and APY subscribers have crossed 1.60 crores

PFRDA conducts workshop on National Pension System (NPS) for Corporates in coordination with FICCI at Ahmedabad; Overall number of NPS and APY subscribers have crossed 1.60 crores with overall Asset under Management (AUM) of more than 1,87,000 crores.

Pension Fund Regulatory Development Authority (PFRDA) in its endeavor to promote NPS among the Corporates have embarked upon conducting NPS Workshops at various locations across the country. A Corporate Meet was conducted at Ahmedabad,Gujarat today in association with Federation of Indian Chambers of Commerce and Industry (FICCI), Gujarat State Council.

Addressing the participants, Shri Akhilesh Kumar, Deputy General Manager, PFRDA informed them about the longevity scenario across the world and the need of pension in old age and sounded the importance of pension to be considered by everyone. National Pension System (NPS) promoted by the Central Government provides the platform to every segment of the society for savings for retirement and briefed the contours of NPS for old age income security. He requested the participants to utilize this meet for better understanding of NPS and implementing the same in their respective organizations. He highlighted the key factor of low cost pension product – NPS for a valuable pension in the old age.

Shri Kumar Sharadindu, MD & CEO, SBI Pension Fund Management Company Limited briefed the role of the Pension Funds under NPS architecture and the benefits of long term investment and the optimal return being generated by the Pension Fund following the investment guidelines issued by PFRDA.

Dr Param Shah, Head, FICCI Gujarat State Council in his welcome address lauded the efforts of PFRDA for organizing such meetings across the country and creating awareness about NPS which can be effective platform for corporates to provide pension to their employees.

As on 09th June 2017, more than 6.09 lacs employees of 3,593 Registered Corporates have joined NPS under NPS Corporate Model. More than 4.62 lacs subscribers have joined NPS under NPS-All Citizen Model. The overall number of NPS and APY subscribers have crossed 1.60 crores with overall Asset under Management (AUM) of more than 1,87,000 crores.

More than 80 participants from around 50 corporates attended the workshop. Ahmedabad / Gujarat based POPs were also present for the workshop. PFRDA official gave a detailed presentation on NPS and informed the participants about the features, benefits and the process of joining NPS to the employees as well as to the employers. Official of Deloitte Haskins & Sells LLP gave a presentation on Tax benefits of NPS as compared to other financial products. Two Ahmedabad based Registered Corporates- namely Adani Power and Arvind Limited, informed the participants about their experience of facilitating NPS to their employees and the need and benefits of implementing NPS in the organization.

PFRDA officials clarified the queries regarding joining of NPS, tax benefits, POPs details, timelines, transfer of superannuation fund to NPS, annuity etc to the participants.

The recent developments under NPS-Private Sector (All citizen and Corporate) are listed below:

i. Process of Transfer of Superannuation / Recognised Provident Fund to National Pension System.
ii. Allowing option to change the investment choice or asset allocation ratio twice in a financial year
iii. Dispensing of requirement of submission of physical application form in case of subscriber opening account online and e-Signing the document.
iv. Introduction of Alternative Investment Fund-a separate class of Asset “A”
v. Introduction of two new life cycle funds (LC 75 and LC 25)
vi. Under Tier-I account, minimum contribution requirement in a financial year is reduced from Rs 6,000/- to Rs 1,000/-

PFRDA’s endeavor is to significantly scale-up these segments during the ongoing months.

Recording of PPO Number in the passbook of Pensioners / Family Pensioners

By
igeadmin
-

Recording of PPO Number in the passbook of Pensioners / Family Pensioners

RESERVE BANK OF INDIA

RBI/2016-17/319
DGBA.GBD.No.3235/45.01.001/2016-17

Dated :08.06.2017

All Agency Banks

Dear Sir / Madam

Recording of PPO Number in the passbook of Pensioners / Family Pensioners

As you are aware, it has been decided to record the PPO number in all the pension passbooks of the pensioners/family pensioners issued to them. This is to alleviate the difficulties reported by pensioners/family pensioners to get duplicate Pension Payment Orders (PPO) in case of missing of original PPO, transfer of pension account from one bank/branch to another bank/branch, commencement of family pension to spouse or dependent children after the death of pensioner, etc. in the absence of ready availability of PPO numbers.

2.Necessary instructions in this regard have already been issued to all authorised banks by the Central Pension Accounting Office vide their Office Memorandum CPAO/Tech/Clarifications/P&PW/2014-15/426-497 dated September 17, 2014and Office of Principal Controller of Defence Accounts (Pension) vide their Circular No.185 dated November 28, 2016(copies enclosed).

3.However, it has been noticed that a few agency banks have not yet implemented the instructions in all their branches. Accordingly all agency banks are advised to record the PPO numbers on the passbook of pensioners/family pensioners.

Yours faithfully

S/d,
(Partha Choudhuri)
General Manager

Order Copy

Penury Grant to Non-Pensioner Ex-Servicemen/Widows Enhanced

By
igeadmin
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Penury Grant to Non-Pensioner Ex-Servicemen/Widows Enhanced

The government has enhanced penury grant to non-pensioner Ex-Servicemen/Widows to Rs. 4,000/- per month from the existing rate of Rs. 1,000/- p.m., payable from April 2017. The Defence Minister Shri Arun Jaitley approved the enhancement of the penury grant following the demands by different stake holders, including Ex-servicemen Associations, Rajya Sainik Boards, Ex-servicemen/widows. Recently, the Governor of Jammu and Kashmir, Shri N N Vohra had also sent a proposal to Shri Jaitley to increase the amount to Rs. 4,000/-.

The penury grant is provided to non-pensioner Ex-servicemen/widows, who are above 65 years of age by the Department of Ex-Servicemen Welfare, Ministry of Defence through Kendriya Sainik Board.

The step of enhancement of penury grant will benefit a large number of non-pensioner Ex-servicemen and widows who are in a state of penury. It was last revised from one time grant of Rs. 30,000/- to Rs. 1,000/- per month in October 2011.

PIB

One Rank One Pension to the Defence Forces personnel

By
igeadmin
-

One Rank One Pension (OROP) to the Defence Forces personnel

No. 12(1)/2014/D(Pen/Pol)-Part-II
Ministry of Defence
Department of EX-Servicemen Welfare

New Delhi,Dated 6th June 2017

CORRIGENDUM

To

The Chief of Army Staff
The Chief of Naval Staff
The Chief of Air Staff

Subject: One Rank One Pension (OROP) to the Defence Forces personnel.

The undersigned is directed to refer to this Ministry letter No. 12(1)/2014/D(Pen/Pol)-Part-II dated 7.11.2015. The following amendments are made in said letter:

Line 2 of Para 4

For: 13(3)1(i)(b), 13(3)1(iv)

Read: 13(3)I(i)(b),13(3)II(i)(b),13(3)III(iv)

2. All other terms and conditions shall remain unchanged.

3. This issues with the concurrence of Finance Division of this Ministry vide their ID Note No. PC.1 to 10(11)/2012/Fin/Pen dated 30.5.2017

Hindi version will follow.

Yours faithfully,

(Manoj Sinha)
Under Secretary to the Govt. of India

Order Copy

Retention of Railway accommodation by Railway officers/staff on their deputation to Railway PSUs

By
igeadmin
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Retention of Railway accommodation by Railway officers/staff on their deputation to Railway PSUs

GOVERNMENT OF INDIA (BHARAT SARKAR)
MINISTRY OF RAILWAYS (RAIL MANTRALAYA)
(RAILWAY BOARD)

No.E(G)2008 QR-1-15

New Delhi, Dated 31.05.2017

The General Managers,
All Indian Railways and PUs,
(As per standard list).

Sub: Retention of Railway accommodation by Railway officers/staff on their deputation to Railway PSUs.

****

The instructions issued vide Board’s letter No.E(G)2008 QR 1-15 dated 18.12.2014 in regard to retention of Railway accommodation at their previous place of posting by officials on deputation to Railway PSUs have been reviewed.

2. Now in exercise of the power to make reasonable relaxations in public interest for a class/group of employees, in all or any of the existing provisions regarding house allotment/retention, considering the shortage of houses/ accommodation in Delhi/NCR area, the Board have decided in the first phase Railway officers/staff in occupation of Railway accomodation in areas other than Delhi/NCR on their deputation to Railway PSUs may be permitted to retain their Railway accommodation at the place of previous posting further beyond 30.06.2016 for a period up to 30.06.2019

3. This issues with the concurrence of the Finance Directorate of the Ministry of Railways

4. Please ackowledge receipt

(Sanjay Guari)
Deputy Director Establishment (Genl.)
Railway Board

Order Copy

Railway Order : Advance Correction Slip No.238 – Discontinuance of Natural Calamity Advance

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igeadmin
-

Railway Order : Advance Correction Slip No.238 – Discontinuance of Natural Calamity Advance

GOVERNMENT OF INDIA
MINISTRY OF RAILWAYS
RAILWAY BOARD

No.E(G) 2017 / AD 1-1

RBE No. 52/2017
New Delhi, dated 30.05.2017

The General Managers & FA&CAOs,
All Indian Railways &
Production Units etc.
(as per standard mailing list)

Sub: Grant of Advances – Seventh Central Pay Commission recommendations – Discontinuance of Natural Calamity Advance.

*****

The Seventh Central Pay Commission vide Para 9.1.4 had recommended that all the interest-free advances being granted to the Central Government employees should be abolished. The Government’s decision in this regard has been conveyed by the Ministry of Finance vide their OM No.12(1)E.II(A)/2016 dated 07.10.2016. According to the instructions contained therein, the Natural Calamity Advance in addition to six other advances has been abolished.

2.The Government’s decision in respect of abolition of advance of Natural Calamity Advance has been considered by the Ministry of Railways in consultation with Finance Directorate. It has been decided to abolish Natural Calamity advance w.e.f. 07.10.2016. The cases where the advances have already been sanctioned need not be reopened.

3. The provisions in respect of Natural Calamity Advance are contained in paras 1123 and 1123(A) of Indian Railway Establishment Manual (IREM) Volume-I. In view of the above, it is directed that paras 1123 and 1123 (A) of IREM may be amended as in the enclosed Advance Correction Slip No.238.

4. This issues with the concurrence of the Finance Directorate of the Ministry of Railways.

5. Please acknowledge receipt.

DA: Correction Slip.

(D.Joseph)
Dy.Dir./E(G) III
Railway Board

ADVANCE CORRECTION SLIP TO THE INDIAN RAILWAY ESTABLISHMENT
MANUAL VOLUME-I

Advance Correction Slip No.238.

The following amendments may be made to Para 1123 and 1123(A) of the Indian Railway Establishment Manual, Volume-I

Para 1123 and 1123(A) may be substituted as under:

Para 1123 and 1123(A) Natural Calamity Advance

The provisions stand deleted as the advance in this regard has been abolished by the Seventh Pay Commission.

(Authority : Railway Board’s letter No.E(G)2017/AD 1-1 dated 30/05/2017)

**********

Source : NFIR

Signed Copy

CPAO ORDER : Instructions to Banks for 7th CPC Revision of pension of pre-2016 Pensioners / Family Pensioners

By
igeadmin
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CPAO ORDER : Instructions to Banks for 7th CPC Revision of pension of pre-2016 Pensioners / Family Pensioners

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF EXPENDITURE
CENTRAL PENSION ACCOUNTING OFFICE
TRIKOOT-II, SHIKAJI CAMA PLACE,
NEW DELHI – 110066

CPAO/IT&Tech/Revision (7th CPC)/19.Vol-III/2016-17/41

06.06.2017

Office Memorandum

Subject: Implementation of Government’s decision on the recommendations of 7th Central Pay Commission – Revision of pension of pre-2016 Pensioners / Family Pensioners, etc.-reg.

Reference is invited to the Department of Pension & Pensioners’ Welfare OM No.38/37/2016-P&PW (A) dated-12th May 2017 (copy enclosed) regarding revision of pension of pre-2016 pensioners/family pensioners under 7th CPC recommendations. It has been decided that the Pension/Family Pension w.e.f. 01.01.2016 in respect of all Central civil pensioners/family pensioners, including CAPFs, who retired/died prior to 01.01.2016, will be revised by notionally fixing their pay in the pay matrix recommended by the 7th CPC in the Level/Index corresponding to the pay in the pay scale/pay band and grade pay at which they retired/died. 50% of the notional pay fixed as per the 7th CPC as on 01.01.2016 shall be the revised pension and 30% of this notional pay shall be the revised family pension w.e.f. 1.1.2016. The amount of revised pension/family pension so arrived at shall be rounded off to the next higher rupee

2. In compliance of the above mentioned OM, all the Banks are required to ensure that the correct amount of revised pension and arrears thereto are paid to the pensioners/ family pensioners at the earliest on receipt of Revision Authority from CPAO. Accordingly, Banks are instructed as follows:

i. The functionality of pay fixation in terms of 7th CPC which entails new fields like Level & Index in the Pay Matrix should be incorporated in the software that the Banks are using for pension processing and calculation of arrears.

ii. The credit of revised pension in the bank accounts of pensioners/family pensioners and payment of arrears should be in a time bound manner after receipt of Revision Authority from CPAO (through electronic mode). It should not be later than the next due date of credit of pension in the pensioners accounts.

iii. No arrears on account of revision of Pension/Family pension on notional fixation of pay will be admissible for the period prior to 1.1.2016. The arrears on account of revision of pension/family pension in terms of these orders would be admissible with effect from 01.01.2016. For calculation of arrears becoming due on the revision of pension/ family pension on the basis of this O.M., the arrears of pension and the revised pension/family pension already paid on revision of pension/family pension in accordance with the instructions contained in the DP&PW OM No. 38/37/2016-P&PW (A) (ii) dated 04.08.2016 shall be adjusted.

iv. Banks are required to take immediate corrective action on the Internal Audit reports of CPAO on the audit of the pension paid by the banks to the pensioners/family pensioners under 7th CPC as per the 2.57 multiplication factor based on the DP&PW OM No. 38/37/2016-P&PW (A)(II) dated 04.08.2016 and CPAO ?M No. CPAO/I’I’ & Tech/ Revision (7th CPC)/19. Vol-III/2015-16/109 dated 11.08.2016 to ensure correct payment of arrears consequent to receipt of revision authority from CPAO as per (ii) above.

3. Regular review meetings shall be held with the CPPCs and Government Business Divisions of Banks to monitor the progress in this regard. Banks are directed to ensure adequate infrastructure & manpower at their end to process large number of revisions in a short period of time and also ensure regular internal monitoring at their level.

This issues with the approval of the competent authority.

Encl:-As above

(Md. Shahid Kamal Ansari)
(Asstt. Controller of Accounts)

Order Copy

Non implementation of 7th CPC for Pensioners of autonomous bodies

By
igeadmin
-

Non implementation of 7th CPC for Pensioners of autonomous bodies

No.5/3/2017-Plant-D
Government of India
Ministry of Commerce and Industry
Department of Commerce
*****

Udyog Bhawan, New Delhi
Dated: 02.06.2017

To,

Shri M.R. Sudharshan,
222, 9th Main Road,
Sri Venkataramana Swamy Temple Street,
Srinagara- 560050,
Karnataka.
E-mail: [email protected]

Subject: Grievance Registration No. DOPPW/E/2017/08318 dated 25.05.2017 regarding “Non implementation of 7th CPC for Pensioners of autonomous bodies”.

Sir,

With reference to the above mentioned subject, it is informed that the proposal of extension of the revised payscale of 7th CPC to the employees of autonomous bodies is under consideration of Finance Division, Department of Commerce. The benefits of 7th CPC and enhanced Dearness Relief to the pensioners will be considered after finalization of the pay scales of the employees of the Autonomous Bodies in accordance with 7th CPC.

Yours faithfully,
(M.S. Banerjee)
Under Secretary

7th cpc autonomous bodies

CGEGIS 1980 – Tables of Benefits for the savings fund from 01.04.2017 to 30.06.2017

By
igeadmin
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CGEGIS 1980 – Tables of Benefits for the savings fund from 01.04.2017 to 30.06.2017

No.7(2)/EV/2016
Government of India
Ministry of Finance
Department of Expenditure
********

New Delhi, the 2nd June, 2017

OFFICE MEMORANDUM

Sub: Central Government Employees Group Insurance Scheme-1980 – Tables of Benefits for the savings fund for the period from 01.04.2017 to 30.06.2017.

*************

Ministry of Finance issues two Table of Benefits on quarterly basis for the savings fund to the beneficiaries under Central Government Employees Group Insurance Scheme (CGEGIS)-1980. While one Table of Benefits for the savings fund of the scheme is based on a subscription of Rs.10 per month per unit from 1.1.1982 to 31.12.1989 and Rs.15 per month per unit w.e.f. 1.1.1990 onwards, the other Table of Benefits for the savings fund is based on a subscription of Rs.10 per month in respect of the employess who had opted out of the revised rates of subscription w.e.f. 1.1.1990.

2. The Table of Benefits under CGEGIS-80 are prepared by IRDA based on the rate of interest notified by DEA for samll savings including GPF. Earlier, DEA used to notify the interest rate on financial year basis. However, DEA has now shifted to notifying the interest rate on quarterly basis. In view of this, it has been decided that the Table of benefits will be issued on quarterly basis commencing from 1.1.2017 to 31.3.2017.

3. The two tables under CGEGIS-80 for the first quarter of the year 2017 i.e, 01.01.2017 to 30.06.2017, prepared by IRDA, are enclosed. The benefits in the Tables have been worked out on the basis of interest @ 7.9% per annum (compounded quarterly), as notified by Department of Economic Affairs.

4. While calculating the amount it has been assumed that the subscription has been recovered or will be recovered from the salary of the month in which a member ceases to be in service failing which it should be deducted from accumulated amounts payable.

5. In its application to the employees of Indian Audit and Accounts Department this Office Memorandum issues in consultation with the Comptroller and Auditor General of India.

sd/-
(Amar Nath Singh)
Director

CGEGIS Table 1980 – Check here

Introduction of Special Leave connected to inquiry of Sexual Harassment

By
igeadmin
-

Introduction of Special Leave connected to inquiry of Sexual Harassment

GOVERNMENT OF INDIA
MINISTRY OF RAILWAYS
RAILWAY BOARD

RBE No.51/2017
New Delhi, dated 29.05.2017

E(P&A)I-2017/CPC/LE-3

The General Managers and FA&CAOs
All Indian Railways & Production Units.

Sub: Introduction of Special Leave connected to inquiry of Sexual Harassment.

******

Consequent upon the decision taken by the Govemment, the President is pleased to decide that the following rule may be inserted in the Railway Service (Liberalised Leave) Rules, 1949 in respect of female railway employees:-

Special Leave connected to inquiry of sexual harassment – Leave upto a period of 90 days may be granted to an aggrieved female Railway Servant on the recommendation of the Internal Committee or the Local Committee, as the case may be, during the pendency of inquiry under Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the leave granted to the aggrieved female Railway Servant under this rule shall not be debited against the leave account.

2. This rule takes effect from the date, the notification was published by the Department of Personnel and Training viz. 15th March, 2017.

3. The provisions of the Railway Service (Liberalised Leave) Rules, 1949 are contained in Chapter-5 of Indian Railway Establishment Code (IREC), Volume-I, 1985 Edition (Reprint Edition-2008). In view of this, in exercise of the powers conferred by the proviso to Article 309 of the Constitution, the president is pleased to direct that a new para 551(F) may be inserted in Chapter-5 of the Indian Railway Establishment Code, Volume — l, 1985 Edition (Reprint Edition-2008) as per enclosed Advance Correction Slip -132.

4. This issues with the concurrence of the Finance Directorate of the Ministry of Railways.

5. Please acknowledge receipt.

DA:- Correction Slip.

sd/-
(Anil Kumar)
Dy.Director / E (P&A)-I
Railway Board

Order Copy

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