NPS and OPS: National Pension System and Old Pension Scheme

NPS and OPS: National Pension System and Old Pension Scheme

New Pension Scheme and Old Pension Scheme

National Pension System is a contributory pension scheme with effect from 1st January 2004

Central government employees are dividing into two groups based on pension scheme, one is NPS Group (who are all appointed on and after 1st January 2004) and another is OPS Group (who are all appointed before 1st January 2004).

The first and major demand of Central Government employees is now ‘Reversion to Old Pension Scheme from Existing National Pension System’

But the Central Government said, due to rising and unsustainable pension bill, the Government has made a conscious move to shift from the defined benefit, pay-as-you-go pension scheme to defined contribution pension scheme now called as National Pension System (NPS).

The transition also helped in freeing the limited resources of the Government for more productive and socio- economic sectoral development.

There is no proposal to replace the NPS with old pension scheme in respect of Central Government employees recruited on or after 01.01.2004.

Latest Developments on NPS and OPS…

• Old Pension Scheme is not considered a feasible proposition in the current scenario – Central Govt February 18, 2021
• Exit through self-authorization by e-NPS subscribers December 26, 2020
• Notification regarding Old Pension Scheme : NVS December 14, 2020
• OTP based authentication for legacy NPS Accounts – PFRDA December 8, 2020
• Contract for Old Pension Scheme September 17, 2020
• NPS On-boarding through Online PRAN Generation Module (OPGM) July 9, 2020
• One time option from National Pension System (NPS) to Old Pension Scheme (OPS) to certain category of Central Govt Employees June 26, 2020
• OTP based authentication for paperless NPS on-boarding June 24, 2020
• Processing of death claims requests under Atal Pension Yojana (APY) in view of Covid 19 pandemic June 24, 2020
• Technical Resignation or Voluntary Retirement – Option for induction in Old Pension Scheme – Govt Order June 15, 2020
• Mobility of personnel amongst Central, State and Autonomous Bodies while working under Pensionable establishments June 13, 2020
• e-NPS online facility for NPS subscribers to exit and withdrawal May 30, 2020
• NPS Withdrawal Rules – Partial Withdrawal from NPS Procedural Guidelines May 4, 2020
• Authorization of CSRF by Employer COVID-19 Outbreak April 13, 2020
• Activities under NPS Lite Swavalamban Scheme from March to June 2020 April 13, 2020
• Partial withdrawal under NPS for specified illness April 12, 2020
• NPS to OPS Latest News – Railway employees Selected 1.1.2004 but Joined after 1.1.2004 – NFIR March 19, 2020
• Withdrawal National Pension System (NPS) to CG Employees Recruited On or After 1.1.2004 March 10, 2020
• NPS to OPS Latest News – Amendment in CCS (Pension) Rules 1972 – DoPPW Order Dated 17 February 2020 February 18, 2020
• Benefit of Gratuity to CG Employees Covered under National Pension System (NPS) February 17, 2020
• Overseas Citizenship (OCI) Can Investment in NPS October 31, 2019
• NPS Vs GPF – General Provident Fund Facility to National Pension Scheme Governed Employees September 30, 2019
• CGHS for NPS Pensioners – NC JCM writes to remove the condition of minimum 10 years service September 28, 2019
• NPS and OPS: National Pension System and Old Pension Scheme September 25, 2019
• Review the Improvement of National Pension System (NPS) September 17, 2019
• New Pension Scheme to Old Pension Scheme – 1st January 2004 is a Dividing line for CG Employees September 16, 2019
• Interest on delayed/non-deposit of National Pension System (NPS) Contribution September 12, 2019
• Monitoring Committees Watch NPS Contributions Credited On Time August 2, 2019
• NPS to OPS: No Proposal to replace NPS with OPS July 17, 2019
• Enhanced Govt Contribution from 10% to 14% under NPS – PFRDA Circular July 9, 2019
• NPS for CG Employees -Setting up of NPS oversight mechanism July 3, 2019
• Withdrawal of resignation by CG Employees covered under NPS – DoPT June 21, 2019
• NPS to OPS: Abolition of Contributory Pension Scheme – Cabinet agenda by the Govt of AP June 12, 2019
• Stoppage of Retirement and Death Gratuity to the NPS Subscribers May 28, 2019
• Major Changes in National Pension System (NPS): Choice of Pension Funds and Investment Pattern May 10, 2019
• Return of NPS Scheme (State Government Scheme) as on March 2019 May 7, 2019
• Return of NPS Scheme (Central Government Scheme)as on March 2019 May 7, 2019
• Voluntary Contribution in Tier I account by Govt. Sector Subscribers May 7, 2019
• Tax Benefit Under NPS May 7, 2019
• NPS Fund Value 2019 – Central & State Pension Fund NAV as on 6.5.2019 May 7, 2019
• NPS to OPS : Extension of Old Pension Scheme to the Employees Who Were selected During the Year 2003 April 24, 2019
• Total Existing Subscribers in NPS as on March 2019 April 23, 2019
• Transferring NPS Subscription into GPF account April 19, 2019
• Compensation for non-deposit or delayed deposit of contribution under NPS – Finmin Orders April 16, 2019
• GPF to be introduced to willing NPS employees – AIDEF Circular April 14, 2019
• Amendment in Investment Guidelines for NPS Schemes – PFRDA March 30, 2019
• NPS to OPS: Abolition of NPS and for Restoration of OPS March 25, 2019
• 14% Government Contribution in NPS – Gazette Notification March 16, 2019
• Recognised Political Parties Participating in 17th Lok Sabha General Election: Request to include demands in Election Manifestos March 15, 2019
• Scrap NPS – Restore OPS: NJCA Writes to All Political Parties March 14, 2019
• Proposal to Include in the Election Manifesto to All Parties – NC JCM Staff Side March 13, 2019
• Nationwide Protest by CG Employees Against NPS on 13.03.2019 March 6, 2019
• Guaranteed Pension to CG Employees Governed Under NPS – PFRDA February 15, 2019
• NPS Contribution 14% of Basic Pay plus DA – Gazette Notification February 5, 2019
• National Pension System – 42 Aspects to Know February 4, 2019
• National Pension System to Tripura Govt Employees January 28, 2019
• Withdrawal of Pension Facility in NPS January 3, 2019
• NPS To OPS – Revert to Old Defined Benefit Pension System December 31, 2018
• New Norms for Withdrawal of National Pension System (NPS) December 22, 2018
• NPS Applicable to NVS Employees w.e.f. 1.4.2009 December 16, 2018
• NPS Latest News: Processing of Partial Withdrawal Request December 16, 2018
• NPS To OPS: Karnataka Govt Employees Protest against NPS December 13, 2018
• NPS To OPS: Scrap NPS and Restore OPS – Demands Day 12.12.2018 December 12, 2018
• NPS To OPS: Cabinet Approved Contribution 10% to 14% December 10, 2018
• NPS to OPS: New Pension Scheme Demand To Scrap it December 8, 2018
• NPS To OPS: Major Change in NPS – Govt Contribution Raised to 14% December 7, 2018
• NPS To OPS : Nationwide 2 Days Strike (8th and 9th Jan 2019) December 5, 2018
• SCRAP NPS & RESTORE OPS December 1, 2018
• NPS To OPS : TN Constituting Expert Committee To Review NPS December 1, 2018
• NPS To OPS: Kerala Constituted Review Committee for NPS December 1, 2018
• NPS To OPS: Govt of AP Issued Orders based on Expert Committee November 30, 2018
• Brief Summary of Proceedings on Abolish NPS by Delhi Assembly November 30, 2018
• NPS to OPS: Proceeding on adoption of Resolution on Abolishing NPS by Delhi Assembly November 29, 2018
• NPS to OPS: Resolution adopted by Legislative Assembly of NCT of Delhi November 28, 2018
• New Contributory Pension System (NPS) November 27, 2018
• NPS to OPS: Old Pension Scheme will be restored by AAP Govt. in National Capital November 27, 2018
• Appeal to NPS Pensioners – Confederation October 17, 2018
• Old Pension Scheme to Railway Employees October 10, 2018
• Central Govt Rejects the Demand to Scrap NPS September 26, 2018
• Reversion to Old Pension Scheme September 26, 2018
• Implementation of National Pension System by Central Autonomous Bodies September 24, 2018
• An Overview of New Contributory Pension System (NPS) – Confederation September 10, 2018
• Reversion to Old Pension Scheme for Personnel of Ministries August 12, 2018
• New Pension Scheme(NPS) Vs Old Pension Scheme(OPS) August 11, 2018
• Defined Contribution Pension Scheme (NPS) – Salient Features) August 10, 2018
• Not Possible to Revert Back to Old Pension Scheme July 27, 2018
• Reversion to Old Pension Scheme July 20, 2018
• New Pension System (NPS) – NC JCM Staff Side May 29, 2018
• Important Announcements and Approvals in Board Meeting of PFRDA May 4, 2018
• NPS Subscribers: Submit FATCA Self-Certification through Online April 23, 2018
• NPS Subscribers: Know your FATCA Compliant Status April 23, 2018
• Brief of the meetings held between the Staff Side(JCM) and Official Side April 11, 2018
• Exemption of Railways from New Pension Scheme (NPS) – NFIR April 9, 2018
• Minimum Guaranteed Pension under National Pension System (NPS) – BPMS April 7, 2018
• Grant of Minimum Guaranteed Pension under NPS – BPMS April 7, 2018
• Major Changes in NPS including Withdrwal Norms March 24, 2018
• NPS subscribers can withdraw after three years March 9, 2018
• Age Limit for NPS February 12, 2018
• NPS Committee Report Finalised and Submitted to Govt – NC JCM Staff Side January 24, 2018
• Guidelines on CGHS benefits to Central Government employees (service or retired) covered under NPS January 23, 2018
• Maximum age of joining National Pension System (NPS) increased from the existing 60 years to 65 years under NPS November 1, 2017
• Conference on NPS for Central Public Sector Enterprises October 10, 2017
• Additional benefit on death/disability of Government servant covered by NPS August 25, 2017
• Revision of Additional Relief on death/disability of Government servants covered under New Pension Scheme (NPS) August 3, 2017
• SCRAP NPS – STOP OUTSOURCING June 13, 2017
• NRI Investments in NPS April 11, 2017
• Tax on New Pension Scheme April 11, 2017
• NPS to OPS – Minister replied in Parliament March 27, 2017
• Outcome of NPS Meeting held on 17.3.2017 – NFIR March 19, 2017
• NPS Subscribers are allowed multiple Choice to Change Investment Option March 6, 2017
• Withdrawal of NPS is not within the purview of NPS Committee – Confederation February 17, 2017
• Gratuity Benefits under National Pension System (NPS) February 8, 2017
• NPS COMMITTEE – HOPES OF YOUNGER GENERATION SHATTERED February 6, 2017
• Tax-exemption to partial withdrawal from National Pension System (NPS) February 4, 2017
• Streamlining the implementation of the NPS tor Central Govt Employees – NC JCM Staff Side January 24, 2017
• NPS Committee Meeting to be held on 20.1.2017 – NC JCM Staff Side January 19, 2017
• Extension of scope of Additional Relief on death/disability of Government Servants covered by the New Defined Contribution Pension System(NPS) January 17, 2017
• Measures for streamlining the implementation of the National Pension System for Central Government employees January 17, 2017
• NPS has more than One crore subscribers with total AUM of more than Rs.1,60,000 crores January 4, 2017
• Implementation of National Pension System (NPS) in Central Autonomous Bodies (CABs) October 17, 2016
• New Pension System – Features released recently for NPS Subscribers September 18, 2016
• Extend the benefit of Gratuity to all NPS Employees August 27, 2016
• NPS Employees shall eligible for benefit of ‘Retirement gratuity and Death gratuity’ as per CCS (Pension) Rule,1972 August 26, 2016
• Exemption of Railways from National Pension System – NFIR June 26, 2016
• NPS – Concept Paper on Pension Funds, Investment Pattern and Life Cycle Funds for Government Employees April 26, 2016
• PARTIAL WITHDRAWAL FROM NPS ORDERS ISSUED BY PFRDA April 23, 2016
• Tax benefit available under National Pension System (NPS) – AIRF April 15, 2016
• Income Tax benefit available under National Pension System – PFRDA March 22, 2016
• PFRDA published press release of the conference on implementation of NPS held on 16.3.2016 March 19, 2016
• 7th Pay Commission expressed its regret about transition from OPS to NPS March 2, 2016
• Casual Labourers with temporary status-clarification regarding contribution to GPF and Pension under the old pension scheme February 26, 2016
• PFRDA introduced eNPS online portal February 17, 2016
• NPS subscribers of Central Government are 14.1% of the total subscribers as Jan 2016 February 2, 2016
• Benefits of National Pension Scheme (NPS) December 11, 2015
• New Pension Scheme : Analysis of the Issues by the 7th Pay Commission November 26, 2015
• Recovery of NPS subscription fee/charge – NC JCM writes to DoPT November 3, 2015
• New Pension Scheme : Clarification of Deferred withdrawal of lump sum – PFRDA November 3, 2015
• Subscriber details of CG Employees under National Pension System as on 3.10.2015 October 16, 2015
• Payment of Gratuity and Guaranteed Benefits under NPS Beneficiaries – BPMS Resolutions September 22, 2015
• Exempting Railway employees from the NPS and also consider OROP – NFIR September 8, 2015
• Draf Regulations for Retirement Advisers – PFRDA August 25, 2015
• NPS is more beneficial than EPF March 8, 2015
• Employees Under the Employees Provident Fund(EPF) to be Provided two Options February 28, 2015
• NFIR – 55 Point Charter of Demands Including DA Merger, Interim Relief and Scrap NPS February 24, 2015
• New Website of National Pension System Trust Launched February 23, 2015
• Number of Subscribers Registered Under National Pension System (NPS) has more than Doubled November 20, 2014
• Government of India is reluctant to consider Merger of DA, Interim relief, scrapping of New Pension Scheme November 19, 2014
• GConnect has published an article titled, ‘NPS is far beneficial than Government Pension’ November 14, 2014
• ABOLISHING NEW PENSION SYSTEM (NPS) FROM INDIAN RAILWAYS–AIRF & NFIR April 24, 2014
• Withdrawal of New Pension Scheme- NFIR submitted Justification report to Railway Board February 26, 2014
• Justification to Scrap New Pension Scheme – AIRF submitted to Finance Minister February 15, 2014
• NPS News – Pending amount under NPS with Delhi Cantonment Board February 1, 2014
• Retirement Age 62, Merger of DA, Scrapping of NPS, inclusion of federation leaders in 7th CPC etc. – Memorandum submitted to PM January 8, 2014
• PROPOSED OPERATIONAL WITHDRAWAL PROCESS FOR NPS SUBSCRIBERS December 27, 2013
• NPS was implemented in respect of Delhi Cantonment Board employees from 01.04.2011… December 23, 2013
• Exit guidelines under National Pension System – Option for Complete withdrawal of accumulated pension wealth by subscriber–PFRDA October 24, 2013
• Investment Guidelines by PFRDA October 18, 2013