Why Govt Employees Are Up in Arms About the New Pension Scheme. Pension fund managers then invests the funds in the earmarked investment schemes. Recently DoPPW has issued an Office memorandum dated 11th June 2020 regarding Mobility of personnel amongst Central /State & Autonomous Bodies while working under Pensionable establishments. NPS is touted as the lowest cost pension scheme. employees appointed after 01-01-2004 NPS Employees' Union started this petition to Prime Minister of India The National Pension System (New Pension System) for Central and State Government employees appointed on or after 01-01-2004 is unable to solve the Old Age Social Security of the employees. National Pension System (NPS)-based New Pension Scheme has been a bone of contention between government and its employees for years in many parts of the country View in App; The new pension scheme was introduced by the Centre in 2004. No. CHANDIGARH: The Supreme Court has made it clear that employees engaged as daily wagers or on work charge basis prior to January 1, 2004… GOVERNMENT OF INDIA MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES AND PENSIONS (DEPARTMENT OF PENSION AND PENSIONERS’ WELFARE) RAJYA SABHA. Such employees who are appointed under NPS during 1.1.2004 to 28.10.2009 and are eligible to exercise option in terms of para 5 above but do not exercise the option within the stipulated period will continue to be covered by the provisions of National Pension System. dated 28.10.2009, may be given an option for induction in old pension scheme and to get their past service rendered in the Central / State Government or Central / State Autonomous Body counted for the purpose of pensionary benefits on their final retirement from the Central Government / Central Autonomous Body, subject to fulfilment of all other conditions of counting of such past service in terms of DPAR’s O.M. Image source: Reuters file. New system of pension announced in Budget 2003-04: In the Budget 2003-04 a new pension system has been announced based on defined contribution, shared equally in the case of Government employees between the Government and the employees. may have been compelled to take voluntary retirement before joining pensionable Central Government Department/ Central Autonomous bodies after 01.01.2004 but before 28.10.2009. 57/04/2019-P& PW(B) dated 17th February, 2020. The CPS established via Pension Reform Act, 2004, covered both the public and private sector workers. Central Government Employees those who were appointed in 2004 covered under NPS Scheme are now allowed to choose Old Pension Scheme subject to the following conditions Government servants who were declared successful for recruitment in the … to be deducted from salary of the employee. Union of India, where the selection of candidates had been made before 01.01.2004 but their actual appointment in the Government service could be made on or after 01.01.2004 due to various reasons, on the direction of the Hon’ble High Court of Delhi, the benefit of Old Pension Scheme … of Home Affairs (Pay & Accounts Office) In a nutshell all those employees irrespective of their date of recruitment / selection who were recruited against the available vacancies as on 31.12.2003 should all be brought under the Old Pension Scheme under CCS (Pension) Rules, 1972. The National Pension System (NPS) is a voluntary defined contribution pension system administered and regulated by the Pension Fund Regulatory and Development Authority (PFRDA), created by an Act of the Parliament of India. 1710 (TO BE ANSWERED ON 05.03.2020) CLARIFICATION REGARDING OLD PENSION SCHEME. Is am i entitled to switch over to old pension scheme. 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