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Number of Subscribers Registered Under National Pension System (NPS) has more than Doubled

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igeadmin
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Number of Subscribers Registered Under National Pension System (NPS) has more than Doubled
Since April 2012 from about 11.5 Lakh to 23 Lakh:Chairman,Pfrda ; Number of States Joining NPS has Increased from 12 to 26 ; Pfrda Working Towards Notification of Various Regulations in Respect of Efficient Management of Funds, Seamless Grievance Handling and Systems for Risk Mitigation and Containment Among Others

Shri Hemant Contractor, Chairman, Pension Fund Regulatory Development Authority (PFRDA) said that the number of subscribers registered under National Pension System (NPS) has more than doubled since April 2012 from about 11.5 Lakh to 23 Lakh. He commended the substantial improvement in performance of State Governments since April 2012.. He said that the Asset Under Management has also increased 7 fold from Rs.3,300 crores to approximately Rs.24,000 crores while the average contribution upload per month has increased from Rs.180 crores to approximately Rs.900 crores. Shri Contractor was speaking at a Conference on Implementation of National Pension System (NPS) by State Governments organized here today by Pension Fund Regulatory Development Authority (PFRDA). The main objective of the Conference was to focus on progress of performance of the State Governments and also to discuss the implications of the passage and notification of the PFRDA Act for respective States who are offering NPS to their respective employees.

Shri Contractor, Chairman, PFRDA informed, that barring the two States, all the other State Governments, have notified joining NPS. Since the last such conference held in April 2012, the number of States joining NPS has increased from 12 to 26, he added. He said that PFRDA was in talks with the other two State Governments on their joining NPS.

Shri Contractor, Chairman, PFRDA, further said that with the passage and notification of the Act, PFRDA has been conferred with a statutory status. Its mandate covers development of the pension sector as also framing regulations for the advancement of the NPS and protection of the interest of the subscribers. He informed the participants that regulations under the Act are expected to be notified within the next two months. The Chairman added that steps have been taken for communicating more frequently with the subscribers to increase awareness levels about NPS. He directed the State Government officials to regularly visit the PFRDA website for updates on various policies and information. Shri Contractor added that there were various points of concerns which have to be dealt with proactively to protect the interest of the subscribers. He added that this conference and more in the coming years would act as a platform for discussion with PFRDA and interactions with other states to share their best practices.

Earlier speaking on the occasion, Dr. Anup Wadhawan, Joint Secretary, Department of Financial Services, Ministry of Finance emphasised upon the fact that NPS of the Central and the State Governments forms the backbone of the NPS as it is a direct replacement of the erstwhile DB pension system. Hence, its proper implementation is very important for the NPS product as well as the sector, he added. Dr. Wadhawan further stressed upon the fact that the State Government Nodal offices need to keep the information in respect of their employees like email ids, mobile numbers and addresses etc. updated in all respects at regular intervals. Dr. Wadhawan further asked the State Governments to sort-out the issue of legacy contributions and inclusion of State Autonomous Bodies in an expeditious manner. He further called upon the State Governments to further the cause of the Government of India promoted NPS Swavalamban scheme for economically weaker sections of the unorganised sector, through their respective Rural Development Departments.

Shri R V Verma, Member (Finance) laid emphasis on the fact that despite NPS being voluntary in nature; most of the State Governments have proactively adopted it. He further dwelt on the fact that the paradigm shift from the Defined Benefit to the Defined Contribution has put the subscriber’s interest at the centre and the involvement of the subscriber’s right from the entry into the system up to his/her exit becomes prominent. He mentioned that the involvement of the State Government Nodal offices, as the first point of interaction of the subscriber attains importance. He added that with the passage of the Act, PFRDA is working towards notification of various regulations in respect of the efficient management of funds, seamless grievance handling and systems for risk mitigation and containment. Shri Verma emphasised that various issues like expanding coverage, adequately safeguarding the interest of the subscriber and robust risk management system is of paramount important for protecting the interest of subscribers. He said that synchronization of information and funds is very important in NPS; hence Nodal offices have to lay emphasis on the same. He stated that it is the collective endeavour of the Regulator and the stakeholders involved i.e. State Governments, State Autonomous Bodies (SAB) and their Nodal offices, that a two way feedback process has to be in place to innovate upon the operational aspects of the NPS.

Though it is mandatory to register under National Pension System (NPS) for the joinees/employees of the Central Government who have joined or are joining it on or after 01-01-2004, yet most of the State Governments have adopted NPS voluntarily for their employees from their respective adoption dates. Currently, NPS has 76 Lakh subscribers with total Asset Under Management (AUM) of Rs.68,000 crores. Out of this, State Government sector has approx. 23 Lakh subscribers with AUM of Rs.30,000 crores.

Source : PIB

Procedure for grant of permission to the pensioners for commercial employment after retirement — revision of Form 25

By
igeadmin
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No.27012/3/2014-Estt (A)
Government of India
Ministry of Personnel, Public Grievances and Pensions
(Department of Personnel and Training)
****

North Block, New Delhi the 19th November, 2014

OFFICE MEMORANDUM

Subject: Procedure for grant of permission to the pensioners for commercial employment after retirement — revision of Form 25.

The undersigned is directed to refer to Rule 10 of CCS (Pension) Rules, 1972 and to say that retired Government servants proposing to take up commercial employment within a year of retirement are required to seek permission from the Government. They are required to apply for permission in Form 25 of CCS(Pension) Rules. Form 25 prescribed under the said rule has since been reviewed with a view to simplify the procedure. The revised Form 25 is enclosed.

2. The revised form incorporates the conditions prescribed in clauses (b) to (f) of sub-Rule 3 of Rule 10. There is now no requirement for obtaining an affidavit as prescribed in Para 2(d) of this Departments’ 0M No. 27012/5/2000-Estt.(A) dated 5th December, 2006.

3. All Ministries/Departments are requested to bring this to the notice of all concerned.

4. Formal Notification of Rules will follow.

(G. Jayanthi)
Director

Original Order: Click here

FM to Relaunch Kisan Vikas Patra (KVP)

By
igeadmin
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FM to Relaunch Kisan Vikas Patra (KVP)

Available to the Investors in the Denomination of Rs. 1000, 5000, 10,000 and 50,000, with no Upper Ceiling on Investment; Investment made in the KVP will Double in 100 Months

The Union Finance Minister Shri Arun Jaitley will re-launch the Kisan Vikas Patra (KVP) here tomorrow in the presence of Shri Ravi Shankar Prasad, Union Minister of Communication and IT and Shri Jayant Sinha, Minister of State for Finance among others. Increasing savings rate in the economy was one of the priorities of the new Government on assuming charge. In view of the popular demand and to revitalize Small Savings, the Finance Minister in para 27 of his Budget Speech announced that “Kisan Vikas Patra (KVP) a very popular instrument among small savers will be reintroduced The instrument will encourage people, who may have banked and unbanked savings to invest”. Accordingly, it is decided to reintroduce Kisan Vikas Patras (KVPs). KYC norms regarding all National Savings Schemes (NSS) are now applicable in post offices and banks w.e.f. January, 2012.

The re-launched Kisan Vikas Patra (KVP) will be available to the investors in the denomination of Rs. 1000, 5000, 10,000 and 50,000, with no upper ceiling on investment. The certificates can be issued in single or joint names and can be transferred from one person to any other person / persons, multiple times. The facility of transfer from one post office to another anywhere in India and of nomination will be available. The certificate can also be pledged as security to avail loans from the banks and in other case where security is required to be deposited. Initially the certificates will be sold through post offices, but the same will soon be made available to the investing public through designated branches of nationalised banks.

Kisan Vikas Patras have unique liquidity feature, where an investor can, if he so desires, encash his certificates after the lock-in period of 2 years and 6 months and thereafter in any block of six months on pre-determined maturity value. The investment made in the certificate will double in 100 months.

Reintroduction of Kisan Vikas Patra (KVP) is a welcome step not only in the direction of providing safe and secure investment avenues to the small investors but will also help in augmenting the savings rate in the country. The scheme will also safeguard small investors from fraudulent schemes. With a maturity period of 8 years 4 months, the collections under the scheme will be available with the Govt. for a fairly long period to be utilized in financing developmental plans of the Centre and State Governments and will also help in enhancing domestic household financial savings in the country.

Kisan Vikas Patra (KVP) – a certificate savings scheme was launched by the Government on 1st April, 1988. The scheme provided facility of unlimited investment by way of purchase of certificates from post offices in various denominations. The maturity period of the scheme when launched was 5 ½ years and the money invested doubled on maturity. The scheme was very popular among the investors and the percentage share of gross collections secured in KVP was in the range of 9 % to 29 % against the total collections received under all National Savings Schemes in the country. Gross collections under the scheme in the year 2010-11 were Rs. 21631.16 crores which was 9 % of the total gross collections during the year. In the year of its closure, the scheme secured gross collections of Rs. 7575.95 crores (April 2011 to November 2011).

Source : PIB

Amendment of provisions of the CCS (Joining Time) Rules, 1979 – DOPT Order

By
igeadmin
-

No.19011/03/2013-Estt.(AL)
Government of India
Ministry of Personnel, Public Grievances & Pensions
Department of Personnel & Training
…………

Block-IV, Old JNU Campus, New Delhi,
November 17, 2014

OFFICE MEMORANDUM

Subject: Amendment of provisions of the CCS (Joining Time) Rules, 1979.

The undersigned is directed to state that a review of the provisions of the CCS (Joining Time) Rules, 1979 has been carried out and it has been decided to amend some of the rules and sub-rules of the Central Civil Services (Joining Time) Rules, 1979, as detailed below:

Sl. No. Rule/Sub-rules Existing Provision Proposed
1 4(4) For appointment to post under the Central Government on the results of a competitive examination and/or interview open to Government servants and others, Central Government employees and permanent/provisionally permanent State Government employees will be entitled to joining time under these rules. For appointment to posts under the Central Government on the results of a competitive examination and/or interview open to Government servants and others, Central Government  employees and permanent/ State Government employees will be entitled to joining time under these rules in case such Government servants opt for having    their    past     service     in     the Central/State Government counted for all purposes in the Central Government.
2 4(4) But temporary employees of the Central Government who have not completed 3 years of regular continuous service, though entitled to joining time would not be entitled to joining time pay. May be deleted.
3 Note below 5(4) Note: Distance means actual distance   and not weighted mileage for which fare is charged by the Railways in certain ghat/hill sections. Note I: Distance means actual distance travelled and not weighted mileage for which fare is charged by the Railways in certain ghat/hill sections.
4 Note below 5(4) None. May be added under rule 5(4):
Note II: In case of transfer of a Government servant to or from North Eastern Region, including Sikkim, Andaman & Nicobar Islands, Lakshadweep and Ladakh two days additional time will be admissible over and above the normal joining time reckoned on the basis of actual distance between old and new place of posting.
5 6(1) 6(1)  When  a Government servant joins a new post without availing full joining time by reasons that
(a)…….
(b)…….
The number of days of joining time admissible…subject to a maximum of 15 days reduced by the number of days of joining time actually availed of shall be credited to his leave account as earned leave…….. Provided….shal
I not exceed 240 days.		 The period of unutilized joining time shall be regulated in terms of the provisions of rule 26(1)(a)(ii) of the Central Civil Service (leave) Rules, 1972.
6 7 None May be added under rule 7 :
Note: The sanction of the admissible joining time shall be accorded by the competent authority exercising the administrative control over the Government servant proceeding on transfer. However the joining time pay shall be paid for by the new administrative authority where such Government servant joins on transfer.

3. The process to amend the CCS (Joining Time) Rules, 1979 on the above lines is underway. The Department of Personnel & Training solicits comments on above by 28th November 2014.

(Mukul Ratra)
Director

Original Order : Click here

Inclusion of eligible officers who are due to retire before the likely date of vacancies, in the panel for promotion-Regarding

By
igeadmin
-

NO. 22011/1/2014-Estt(D)
Government of India
Ministry of Personnel, Public Grievances and Pensions
(Department of Personnel and Training)

North Block, New Delhi – 110001
Dated- 14th November, 2014

OFFICE MEMORANDUM

Subject: – Inclusion of eligible officers who are due to retire before the likely date of vacancies, in the panel for promotion-Regarding.

***

The undersigned is directed to invite reference to the Department of Personnel and Training Office Memorandum No. 2201114/98-Estt(D) dated October 12, 1998 regarding consideration of retired employees who were within the zone of consideration in the relevant year(s) but are not actually in service when the DPC is being held. The said OM provides as follows:

“……..There is no specific bar in the aforesaid Office Memorandum dated April 10, 1989 or any other related instructions of the Department of Personnel and Training for consideration of retired employees, while preparing year-wise panel(s), who were within the zone of consideration in the relevant year(s). According to legal opinion also it would not be in order if eligible employees, who were within the zone of consideration for the relevant year(s) but are not actually in service when the DPC is being held, are not considered while preparing year-wise zone of consideration/panel and, consequently, their juniors are considered (in their places), who would not have been in the zone of consideration if the DPC(s) had been held in time. This is considered imperative to identify the correct zone of consideration for relevant Year(s). Names of the retired officials may also be included in the panel(s). Such retired officials would, however, have no right for actual promotion. The DPC(s) may, if need be, prepare extended panel(s) following the principles prescribed in the Department of Personnel and Training Office Memorandum No.22011/8/87-Estt.(D) dated April 9, 1996.”

2. Appointment Committee of Cabinet has observed that DPCs often do not consider such eligible officers who are retiring before the occurrence of the vacancy in the panel year. These undesirable trends negate the very purpose of the above said Office Memorandum No. 22011/4/98-Estt(D) dated October 12, 1998 and it is also against the principle of natural justice.

3. All the Ministries/Departments are therefore advised to ensure strict compliance of the instructions of the Department of Personnel & Training issued vide this Department’s OM No. 22011/4/98-Estt(D) dated October 12, 1998.

4. These instructions may please be brought out to the notice of all concerned including attached and subordinate offices.

(S.K.Prasad)
Under Secretary to the Govt. of India

Original Order : Click here

Posting of Government employees who have differently abled dependents – Include ‘Autism’ in the term ‘disabled’

By
igeadmin
-

No.42011/3/2014-Estt.(Res.)
Government of India
Ministry of Personnel, Public Grievances and Pensions
Department of Personnel & Training
****

North Block, New Delhi
Dated the 17th November. 2014

Office Memorandum

Sub: Posting of Government employees who have differently abled dependents – reg.

The undersigned is directed to refer to this Department’s OM of even number dated 06.06.2014 (copy enclosed) exempting a Government employee, who is also a care giver of disabled child, from the routine exercise of transfer/rotational transfer subject to the administrative constraints. The word ‘disabled’ includes (i) blindness or low vision (ii) hearing impairment (iii) locomotor disability or Cerebral Palsy (iv) leprosy cured (v) mental retardation (vi) mental illness and (vii) multiple disabilities.

2. The matter regarding the scope of ‘disabled’ has been examined in consultation with the Department of Disability Affairs. Considering the fact that the autism spectrum disorder child requires constant caregiver support and it would be imperative for the Government employees to take care of their autism spectrum disorder child on continuous basis, it has been decided to include ‘Autism’ in the term ‘disabled’, as defined in Para 3 of the above-mentioned O.M. dated 06.06.2014.

3. This issues with the approval of the MoS (PP).

4. All the Ministries/Departments, etc. are requested to bring these instructions to the notice of all concerned under their control.

(G. Srinivasan)
Deputy Secretary to the Govt. of India

Original Order : Click here

7th Central Pay Commission’s visit to Hyderabad

By
igeadmin
-

The Commission, headed by its Chairman, Justice Shri A. K. Mathur, proposes to visit Hyderabad from 18th to 20th November, 2014. The Commission would like to invite various entities/associations/federations representing any/all categories of employees covered by the terms of reference of the Commission to present their views.

Your request for a meeting with the Commission may be sent through e-mail to the Secretary, 7th Central Pay Commission at secy-7cpc@nic.in. The memorandum already submitted by the requesting entity may also be sent as an attachment with this e-mail.

The last date for receiving request for meeting is 17th Nov. 2014 (1700 hours).

Source: 7th CPC Portal

Jeevan Pramaan – Digital Life Certificate for Pensioners

By
igeadmin
-

PM launches Jeevan Pramaan – Digital Life Certificate for Pensioners

Huge relief for senior citizens who have to produce Life Certificates each year to continue receiving pension

The Prime Minister, Shri Narendra Modi, today launched “Jeevan Pramaan” – an “Aadhar-based Digital Life Certificate” for pensioners, in a move that could eventually benefit over a crore pensioners. The Prime Minister said that after the push towards self-certification, this digital life certificate was another enabling mechanism which would benefit the common man.

The proposed digital certification will do away with the requirement of a pensioner having to submit a physical Life Certificate in November each year, in order to ensure continuity of pension being credited into his account. The Department of Electronics and IT has developed a software application which will enable the recording of the pensioner`s Aadhar number and biometric details from his mobile device or computer, by plugging in a biometric reading device. Key details of the pensioner, including date, time, and biometric information will be uploaded to a central database on real-time basis, ultimately enabling the Pension Disbursing Agency to access a Digital Life Certificate. This will conclusively establish that the pensioner was alive at the time of authentication.

The earlier requirement entailed that a pensioner either personally presents himself before the Pension Disbursing Agency, or submits a Life Certificate issued by authorities specified by the Central Pension Accounting Office (CPAO).

At present, 50 lakh individuals draw pension from the Central Government alone. A similar number draw pension from State and Union Territory Governments. Several PSUs also provide pension benefits. Over 25 lakh retired personnel draw pension from the Armed Forces. The Aadhar-Based Digital Life Certificate will go a long way in reducing hardship which so many senior citizens have to go through to produce a Life Certificate every year.

The software application system will be made available to pensioners and other stakeholders on a large scale at no extra cost. It can be operated on a personal computer or a smartphone, along with an inexpensive biometric reading device. This facility will also be made available at Common Service Centres being operated under the National e-Governance Plan, for the benefit of pensioners residing in remote and inaccessible areas.

Source : PIB

Clarification regarding International Travel of Government Officers – Finmin Order 2014

By
igeadmin
-

No. 7(1)/E.Coord/2014
Government of India
Ministry of Finance
Department of Expenditure

North Block, New Delhi
10th November 2014

OFFICE MEMORANDUM

Subject: International travel – clarification regarding.

Guidelines/instructions on the subject of international travels have been issued by this Department from time to time. Latest instructions on the subject have been issued vide this Department’s O.M. of even number dated 29.10.2014 [Paragraph 2.4 refers]. In order to clarify the subject further, following instructions on international travels are reiterated for compliance —

(i) Proposals for participation in conferences seminars conventions/workshops/study tours/presentation of papers abroad at Government cost will not be entertained except those that are fully funded by sponsoring/inviting organizations which may be considered keeping in mind the public interest and Government business at home.

(ii) No officer should undertake more than four (4) official visits abroad in a calendar year. For visits exceeding four by an officer, detailed justification would need to be furnished and such visit would be allowed only in exceptional cases depending on functional need.

(iii) The size of the delegation and the duration of visit shall be kept to the absolute minimum. The Administrative Secretary shall make sure that in every case officers of appropriate functional level dealing with the subject are sponsored / deputed instead of those at higher levels. Visits at the level of Secretaries should be planned only if their presence is essential and officers of or the level of Additional Secretary/Joint Secretary can not substitute them for the purpose of enunciating Government policies/stand point.

(iv) Foreign travel of Government officers at the cost of PSUs/PSEs is discouraged, unless the journey is undertaken specifically in connection with the affairs of the PSU/PSE. Specific reasons for charging the expenditure to the PSU/PSE on account of foreign travel must be spelt out in the proposal. Wherever expenditure on the visit of Government officers is borne by PSU/PSE, the entitlements of the officers shall remain same as his entitlements under Government Rules/regulations/norms/instructions.

2. This issues with the approval of Secretary (Expenditure).

(N.Radhakrishnan)
Director

Original Order : Click here

List of Restricted Central Government Office’s Holidays during the year 2015

By
igeadmin
-

List of Restricted Central Government Office’s Holidays during the year 2015

S.No Holiday Date Day
1 New Year’s Day 1-Jan-15 Thursday
2 Makar Sankranti 14-Jan-15 Wednesday
3 Pongal 15-Jan-15 Thursday
4 Basant Panchami / Sri Panchami 24-Jan-15 Saturday
5 Guru Ravidas’s Birthday 3-Feb-15 Tuesday
6 Swami Dayananda Saraswati Jayanti 14-Feb-15 Saturday
7 Shivaji Jayanti 19-Feb-15 Thursday
8 Holika Dahan 5-Mar-15 Thursday
9 Chaitra Suldadi/Gudi Padava/ Ugadi/ Cheti Chand 21-Mar-15 Saturday
10 Easter Sunday 5-Apr-15 Sunday
11 Vaisakhi/Vishu / Masadi 14-Apr-15 Tuesday
12 Vaisakhadi(Bengal)/ Bahag Bihu (Assam) 15-Apr-15 Wednesday
13 Hazarat Ali’s Birthday 3-May-15 Sunday
14 Guru Rabindranath’s  birthday 9-May-15 Saturday
15 Jamat-Ul-Vida 17-Jul-15 Friday
16 Rath Yatra 18-Jul-15 Saturday
17 Parsi New Year’s day/ Nauroz 18-Aug-15 Tuesday
18 Onam 28-Aug-15 Friday
19 Raksha Bandhan 29-Aug-15 Saturday
20 Vinayaka Chaturthi/   Ganesh Chaturthi 17-Sep-15 Thursday
21 Dussehra (Maha Saptami) (Additional) 20-Oct-15 Tuesday
22 Dussehra (Maha Ashtami) (Additional) 21-Oct-15 Wednesday
23 Dussehra (Maha Navmi) 22-Oct-15 Thursday
24 Maharishi Valmiki’s Birthday 27-Oct-15 Tuesday
25 Karaka Chaturthi (Karva Chouth) 30-Oct-15 Friday
26 Deepavali (South India) 10-Nov-15 Tuesday
27 Naraka Chaturdasi 10-Nov-15 Tuesday
28 Govardhan Puja 12-Nov-15 Thursday
29 Bhai Duj 13-Nov-15 Friday
30 Pratihar Sashthi/Surya   Sashthi (Chhat Puja) 17-Nov-15 Tuesday
31 Guru Teg Bahadur’s Martyrdom Day 24-Nov-15 Tuesday
32 Christmas Eve 24-Dec-15 Thursday

List of Holidays 2015 – Click here

Original Order : Click here

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