Current Pension rate of Contributory Provident Fund (CPF) Pensioners
Ministry of Finance
Current Pension rate of Contributory Provident Fund (CPF) pensioners
The Central Government employees who are covered by CPF Rules (India) 1962 and who retired on or after 01.01.1986 are not entitled to any monthly pension/ex-gratia amount. However, the Government employees under CPF who retired between 18.11.1960 and 31.12.1985 are entitled to monthly ex-gratia amount of the following rates:
|
S.No
|
Group of Service
to which CPF retirees belonged at the time of retirement |
Enhanced amount of
basic monthly ex-gratia |
|
1
|
Group A Service
|
Rs. 3,000/-
|
|
2
|
Group B Service
|
Rs. 1,000/-
|
|
3
|
Group C Service
|
Rs. 750/-
|
|
4
|
Group D Service
|
Rs. 650/-
|
|
5
|
Widows and dependent children of the deceased CPF
|
Rs. 645/-
|
|
|
beneficiary
|
|
Dearness ex-gratia equal to 50% of the amount of ex-gratia and Dearness Relief, as notified from time to time as per 5th Central Pay Commission series, on the sums of amount of ex-gratia and dearness ex-gratia is being paid to them. There is no proposal to increase the aforesaid rates.
This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in a written reply to a question in Lok Sabha today.
Also Check: Central Government Pay Matrix Table 2022 PDF
My name is P C Sikligar, retired on 31 July 2014. I opted CPF twice in 1985 and 1987 because of that time Government of India was paying 13..5. percent interest in my contribution. Later. on government has reduced interest rate on individual who opted CPF.
Why the government has reduced interest rates? Is government is keen to give some monetary benefit to those who opted CPF?
Pensioners are getting enhancement as dearness allowance timely whereas CPF fellow is not getting any kind of benefit which helps them in old days. Prices of commodity and the medical cost are improving day to day..
On the other side, the banks deduct TDS. On this, once finance minister said on national television that the matter is under look couple of months back but he has not taken any decision. Banks are deducting TDS. Pl, tell where these CPF fellows will get relief.
For that now NATIONAL PENSION SCHEME was started from the government employees appointed from 2004, (they will not get pension) CPF employees are got the contribution extra from the institution in full service, but those who are contribute GPF government wont contribute to their employees for them in full service for that is only they are getting as PENSION & D.R.
Regarding interest rate reduced is for all.
From the F.Y.2018-19 the TDS interest amount was increased to Rs.50,000- instead of Rs.10,000/- deducted as previous years for the Seniors & standard deduction of Rs.40,000/- was deducted for all the tax payers.