NPS vs GPF: GPF Facility for National Pension Scheme Gov. Employees The proposal suggests an extension of the General Provident Fund (GPF) facility to the National Pension System (NPS) governed employees, giving them the option to choose between the two schemes. This move comes as a result of the government’s efforts to provide more flexibility … Read more
Partial NPS Withdrawal Rules – Procedural Guidelines The National Pension System (NPS) has specific rules and orders regarding withdrawal, including partial withdrawal. The guidelines for procedural steps to take for such partial withdrawals are outlined by the Pension Fund Regulatory and Development Authority (PFRDA), which oversees the NPS. It’s important to understand these guidelines thoroughly … Read more
Exit NPS Online: Withdrawal Facility for Subscribers Additional Modes of e-NPS exit : e-NPS subscribers to exit also from NPS through an online process. This option of exit shall be applicable for both i.e. for pre-mature as well as normal exit – PFRDA Circular 27.5.2020 PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITYB-14/A, Chhatrapati Shivaji Bhawan,Qutub … Read more
Withdraw from NPS After 3 Years | National Pension Scheme According to the NPS rules, subscribers are allowed to withdraw their funds after three years from the date of joining the system. However, they can only withdraw a maximum of three times during the entire tenure of their subscription under NPS. This means that subscribers … Read more
Gratuity Benefits under NPS | National Pension System Gratuity Benefits are an essential component of the National Pension System (NPS), which provides retirement benefits to employees in India. Under the NPS, employees receive a lump sum amount upon retirement, which includes contributions made by the employer and the employee over the years, as well as … Read more
Retirement Gratuity and Death Gratuity for NPS Employees Employees who work for the National Park Service (NPS) shall be entitled to the benefit of ‘Retirement gratuity and Death gratuity’, in accordance with the CCS (Pension) Rule, 1972. This means that upon retirement, NPS employees can receive a lump sum amount as gratuity to support their … Read more
“Pay Gratuity & Benefits Under NPS – BPMS Resolutions” The government has implemented policies to provide relief to employees in various aspects of their employment. These policies include the removal of ceiling for Compassionate Appointment, which allows for greater flexibility in hiring individuals for positions, and the payment of gratuity to NPS beneficiaries, ensuring that … Read more
Contract for Old Pension Scheme | Pension Solutions Office Memorandum No. 57/04/2019-P&PW(B) dated 17th February, 2020 “Where the results for recruitment were declared before 01.01.2004 against vacancies occurring on or before 31.12.2003, the candidates declared successful for recruitment shall be eligible for coverage under the Central Civil Services (Pension) Rules, 1972”. Contract for Old Pension … Read more
One-Time Option From NPS to OPS for Central Govt Employees The Department of Pension and Pensioners’ Welfare issued an another order with detailed clarifications for the eligible employees to switch over from National Pension System to Old Pension Scheme under Central Civil Services (Pension) Rules, 1972. “All cases where the results for recruitment were declared … Read more
Good News for Govt Employees in April 2023! The central government has recently announced the formation of a committee to review the National Pension System for government employees. This news has brought great joy to all government employees across the country. For the past decade, various Central and State government employee unions and federations have … Read more