NPS

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About the TIER II scheme [21st September 2009]

Every thing you want to know about the New Pension scheme

New Pension scheme is not an oasis for retirement years + The origin of NPS Join the Central Government Contributory Pension employees Forum I was working in central goverment under new pension scheme from jan 2004 under new pension scheme. i have quit that job in may 2007. Now i want to get back money which i have put under NPS,I have tried a lot but i cant get my money back till now. Department says we dont know the procedure for filling form under NPS.how to get back that money? I was appointed to Department of Posts at age 56 on January 2005 and thus come under the new pension scheme.I got retired on April 2009.The Department has not given me any benefits other than the earned leave encashment until now.When asked about the contributory pension fund,I received the reply from the authority that they don't know about the procedure. The new pension scheme for central government employees appointed on or after 1-1-2004 has raised several questions among employees as above for which even the supreme authorities does not have a answer right now.The scheme is still in a building up phase even after 6 years of announcing it.So how long are we supposed to wait? The formation of this website on September 11 2009 is an initial part of building up a Central Government Contributory Pension employees Forum to solve such issues of new pension scheme employees and to challenge the negative aspects of the NPS.Join the Central Government Contributory Pension employees Forum.The contacts will be published here soon. About the New Pension scheme The New Pension Scheme of Contributory pension is applicable to all Central Government Employees who joined after 1-1-2004.It has been in the pipeline for at least five years but it finally took shape in 2007-08. Although the government was pushing for the scheme after a law providing statutory backing to the regulator was enacted, the Left parties, which were supporting the UPA government, did not allow the passage of the Bill. So, last year, the government decided to go ahead by allowing the NPS Trust to enter management agreements with fund managers. The new pension scheme was first announced in the Indian Budget-2003-04 http://www.prsindia.org/docs/bills/1167471772/bill74_2006123074_NEW_PENSION_SCHEME_NOTIFICATION.pdf As per the notification, The system would be mandatory for new recruits to the central Government service except the armed forces and the monthly contribution would be 10 percent of the salary and DA to be paid by the employee and matched by the Central Government. However, there will be no contribution from the Government in respect of individuals who are not Government employees. The contributions and investment returns would be deposited in a non-withdrawable pension tier-I account. The existing provisions of defined benefit pension and GPF would not be available to the new recruits in the central Government service. The CPF recovery is just like the EPF where employee puts 10% of his salary+DA and and an equal contribution is put by the employer,which in case of the CPF is the Government of India.But whereas EPF allows Loan and full amount final withdrawal,no such facility is there for CPF and the whole contribution amount is locked up until the employee plans to retire.Also there are restrictions of 40% and 80% on retirement withdrawal.As per now,no tax relief is available on the CPF lump sum maturity amount because the principal applied is EET (exempt exempt and tax) whereas the investments qualify relief under section 80 CCD up to specified limits. The new pension scheme for central govt employees appointed on or after 1-1-2004 is described in the Swamy's hand book-2007 page 264. It says: Retirement at 60yrs of age: It is mandatory to invest 40% of pension wealth in an annuity to provide pension for life time of the employee andhis dependent parents/spouse. Retirement before 60yrs of age: In cases where the employees leave the scheme before 60yrs of age,80% of pension wealth is mandatory for investment. The hand book also says that there will be no GPF or GRATUITY for the new pension scheme employees and pension benefits will be taxable. There is a tier-ii option under construction substituting GPF for new employees but it reduces another 10% of pay.If calculated,thus we can see that the new pension scheme employees are actually getting 10 % less pay than the old pension scheme staff.[Details of Tier ii scheme] So What benefits does the NPS offer?The government plans to have options,A,B and C based on the proportions in equity and fixed securities. Under Option A, 60 per cent of the assets will be held in government securities, 30 per cent in investment grade corporate bonds and 10 per cent in equity. Under Option B, the asset allocation will be 40 per cent, 40 per cent and 20 per cent, respectively. Under Option C, 50 per cent of the assets will be held in equity and the balance 50 per cent will be split between government securities and corporate bonds. But so far,only the default option exists as per the official website of NPS-http://npscra.nsdl.co.in/ So what is the default option as in the website? As per the present guidelines of Pension Fund Regulatory and Development Authority(PFRDA),contribution towards pension will be invested in the default Schemes termed Scheme of various Pension Fund Managers in the proportion of 85% in fixed income instruments and 15% in equity and equity related instruments. As per PFRDA notification on May 2009,the contribution was thus divided for three fund managers revised-29% LIC Pension Fund,31% in UTI retirement benefit plan,and 40% in SBI Pension Fund for the Financial year 2009-10.Source-(Financial Express dtd May 3rd 2009) The above said percentage can be decided by the employee in the future and the option of percentage to be divided to the three fund managers is given in the NPS Subscription Form. ADMINISTRATIVE STRUCTURE OF NPS The administrative setup of NPS subscription is planned as: Employee>Paying officer>DDO>PAO>PrAO>PFRDA/CRA/NSDL>Trustee Bank>Pension Fund managers Download the Interim administrative arrangement in pdf format(Right click and save target as...) IS THIS SCHEME GOOD? There is a wide spread rumour that the new pension scheme offers amount in Lumpsum amount and therefore it is better than the old pension scheme.How much truth is there in it?Let's see... Please note:The below calculations are based on pay of a Group C cadre of scale 5200-20200(2400 Grade Pay) and if the government puts the whole investment in fixed instruments of 8% annual interest.The percentage of investments in equity which is speculated cannot be calculated.It purely depends on how efficient the appointed fund manager is.The principal amount of contribution without interest otherwise is: Based on 10 years-210000(employee contribution)+210000(Govt contribution)=Rs420000 Based on 20 years-540000(employee contribution)+540000(Govt contribution)=Rs1080000 Therefore the amount of pension you get is purely based on the scheme you chose.As per now,there is no scheme which allows to put 100% in fixed instruments and the figures are just to compare the retirement benefits of old and new pension scheme. Old and New Pension scheme comparison after completing 10 years(before 60 years) CPF Calculation Contribution amt –yearly amount+balance+8% annual interest 1300 ist year-15600+1248=16848 1400 ii year - 16800+16848+2691=36339 1500 iii year-18000+36339+4347=58686 1600 iv year- 19200+58686+6230=84116 1700 v year-20400+84116+8361=112877 1800 vi year-21600+112877+10758=145235 1900 vii year-22800+145235+13442=181477 2000 viii year-24000+181477+16438=221915 2100 ix year-25200+221915+19769=266884 2200 x year-26400+266884+23462=316746 If equal government contribution also provides interest, Total tier-1 amount is 316746x2=Rs633492 80% in pension fund=506794 Amt you get at the time of retiring=Rs126698+Rs 3378 monthly pension (8% interest of Rs506794 in a pension fund)+no gratuity For old pension scheme after 10 years GPF =316746 Gratuity=110000[1/4*(last bp+da)*(10*2)] Total amount= Rs426746+Monthly pension Rs 3500+da (minimum pension ) Thus Comparison of old and new pension scheme gives over Rupees 3 lakh less benefits in lump sum amount and lesser monthly pension for new employees after ten years of service for below 60 years retirement. Old and New Pension scheme comparison after completing 10 years(reaching 60 years age) If equal government contribution also provides interest, Total tier-1 amount is 316746x2=Rs633492 40% in pension fund=253396 Amt you get at the time of retiring=Rs380096+Rs 1689 monthly pension (8% interest of Rs253396 in a pension fund)+no gratuity For old pension scheme after 10 years GPF =316746 Gratuity=110000[1/4*(last bp+da)*(10*2)] Total amount=Rs426746+Monthly pension Rs 3500+da (minimum pension ) Thus Comparison of old and new pension scheme gives over Rupees 50000 less benefits in lump sum amount and Rs 1800 lesser monthly pension for new employees after ten years of service for age 60 retirement. Old and New Pension scheme comparison after completing 20 years(before 60 years) CPF Calculation Contribution amt –yearly amount+balance+8% annual interest 1300 ist year-15600+1248=16848 1400 ii year - 16800+16848+2691=36339 1500 iii year-18000+36339+4347=58686 1600 iv year- 19200+58686+6230=84116 1700 v year-20400+84116+8361=112877 1800 vi year-21600+112877+10758=145235 1900 vii year-22800+145235+13442=181477 2000 viii year-24000+181477+16438=221915 2100 ix year-25200+221915+19769=266884 2200 x year-26400+266884+23462=316746 2300xi year-27600+316746+27547=371893 2400xii year-28800+371893+32055=432748 2500xiii year-30000+432748+37019=499767 2600xiv year-31200+499767+42477=573444 2700xv year-32400+573444+48467=654311 2800xvi year-33600+654311+55032=742943 2900xvii year-34800+742943+62219=839962 3000xviii year-36000+839962+70076=946038 3100xix year- 37200+946038+78659=1061897 3200xx year-38400+1061897+88023=1188320 If equal government contribution also provides interest, Total Tier-1 amount is 1188320x2=Rs2376640 80% in an annuity pension fund scheme=1901312 Amt you get at the time of retiring=Rs475328+Rs 12675 monthly pension (8% interest of Rs506794 in a pension fund)+no gratuity For old pension scheme after 20 years GPF =1188320 Gratuity= 320000 i.e. [1/4*(last bp+da)*(no of every completed six month of service)] Total amount= Rs1508320+Monthly pension approax Rs 16000+da (half of last bp+da ) Thus Comparison of old and new pension scheme gives over Rupees 10 lakh less benefits in lump sum amount and Rs 4000 lesser monthly pension for new employees after twenty years of service for below age 60 retirement. Old and New Pension scheme comparison after completing 20 years(reaching 60 years age) If equal government contribution also provides interest, Total Tier-1 amount is 1188320x2=Rs2376640 40% in an annuity pension fund scheme=950656 Amt you get at the time of retiring=Rs1425984+Rs 6300 fixed monthly pension (8% interest of Rs950656 in a pension fund)+no gratuity For old pension scheme after 20 years GPF =1188320 Gratuity= 320000 i.e. [1/4*(last bp+da)*(no of every completed six month of service)] Total amount=Rs1508320+Monthly pension approax Rs 16000+da (half of last bp+da ) Thus Comparison of old and new pension scheme gives over Rupees 1 lakh less benefits in lump sum amount and Rs 9700 lesser monthly pension for new employees after twenty years of service for age 60 retirement. And some final questions: 1.The Government notifications only explains about giving a fixed pension with this amount through a annuity and not about giving this huge amount of money back to the employee at anytime.So what happens to the huge principal amount(19 lakh in the case of a VRS) when the pension ceases after the pensioner and his dependent's death? 2.Why doesn't the government give the whole money of contribution as on EPF for the employee at the time of retirement to invest in bank atleast and enjoy interest or his choice of investment?Why is the government putting restrictions of 40% and 80% to be only invested in annuity pension scheme without giving any other choice to employee's hard earned money? 3.Isn't it a violation of Payment of Gratuity Act-1972 when the employer,who is the Government of India,has decided to give no gratuity to new employees without passing the new bill? 4.While EPF provides loan upto 36 months of wage,there is no scope for any loan in CPF,the money is blocked until the employee retires.What should a new employee do in case of an urgent requirement for building a house or marriage of children? 5.No amount is taken from Member to give Pension to the Member in case of EPF Pension scheme. Employer and Govt. contributes to Pension fund @8.33% and @1.16% respectively.Whereas in CPF,the whole contribution including the employees' is restricted. Please note:The above calculations are based on pay of a Group C cadre of scale 5200-20200(2400 Grade Pay) and if the government puts the investment in fixed instruments of 8% annual interest.The percentage of investments in equity which is speculated cannot be calculated. -------------------------------------------------------------------------------- Questions I was working in central goverment under new pension scheme from jan 2004 under new pension scheme. i have quit that job in may 2007. Now i want to get back money which i have put under NPS,I have tried a lot but i cant get my money back till now. Department says we dont know the procedure for filling form under NPS.how to get back that money? Ans:Dear friend,Please file Right To Information Application with CPIO of Department of Pension and Public Grievances, Govt of India,New Delhi duly paying proper application fee and seek the copy of procedure in question.You can also submit it to your concerned DDO.You have every right to get the accumulated money.The formation of this website on September 11 2009 is an initial part of building up a new employees forum to solve such issues of new employees.We might plan to also give an RIT application,will let you know through the website.

posted by Syam @ 7:27 PM

48 Comments: At September 11, 2009 at 6:20 AM,  Anonymous said… I was working in central goverment under new pension scheme from jan 2004 under new pension scheme. i have quit that job in may 2007. Now i want to get back money which i have put under NPS,I have tried a lot but i cant get my money back till now. Department says we dont know the procedure for filling form under NPS.how to get back that money? At September 11, 2009 at 6:21 AM,  Syam said… Ans:Please file Right To Information Application with CPIO of Department of Pension and Public Grievances, Govt of India,New Delhi duly paying proper application fee and seek the copy of procedure in question. At September 11, 2009 at 8:23 PM,  Anonymous said… I worked in a central university as Reader from April 2004. Now I am moving to another central university as professor. I asked people in my pension section, they said they do not know the precedure as of now and they will not issue any statement regarding my contributions or university contributions.... How can I get my 5 years of money accounted for in my pension.... At September 11, 2009 at 11:42 PM,  Syam said… Dear friend,Please file Right To Information Application with CPIO of Department of Pension and Public Grievances, Govt of India,New Delhi duly paying proper application fee and seek the copy of procedure in question.The formation of this website is part of building up a new employees forum to solve such issues of new employees.We might plan to also give an RIT application,will let you know through the website. At September 12, 2009 at 12:36 AM,  Anonymous said… I served for 2years and 3 months (Feb 2004-June2006) in a institute under Min. of Commerce, GOI in the pay scale of 8000-275-13,500, followed by 3 years service (June2006-June2009) in a State Agricultural University, in the same pay scale. Currently I have got appointment in a research Institute under Indian Council of Agricultural Research, New Delhi (under Min . of Agriculture, GOI) in initial pay band of 15600-36000 with 8000 research grade pay. Through out a deduction of 10% of my salary towards New Pension Scheme was contributed. My query is How should I proceed to pool all my contributions towards NPS during previous services to the place of my current place of work. BOTH THE INSTITUTES DID NOT ALLOT ANY PPAN NUMBER. I do not have PRAN as of now. Should I get PRAN first then request the earlier institutes to shift my contributions to it ?? Please advise.. At September 12, 2009 at 2:37 AM,  Anonymous said… Apply with the NPS subscription form given in the website.Also attach the details of your previous service.Contact your DDO for more information. At September 14, 2009 at 7:22 AM,  LOGI said… I am a Tamilnadu State Government employee completed 9 years of service and come under old pension scheme and now earn a gross salary of Rs. 15,000/. I have an opportunity to join as an inspector of central excise in pay band 9300-38000+ gp 4200/-. (Pay 13500). Will I have to come under nps or old pension scheme? What will be the gross profit or gross loss in respect of my pensionary benefits. Please clarify At September 16, 2009 at 9:25 PM,  binu said… Very nice blog .. Hope this will help us to clear some of our doubts regarding New pension Scheme. Thanks !! At December 10, 2009 at 5:56 AM,  Anonymous said… Is this mandatory to sign the `PRAN` form. At April 1, 2010 at 1:07 PM,  Anonymous said… I am a officer with the Goa Government. Goa Government implemented the NPS with effect from 05/08/2005. My GPSC selection was done in April 2005. The offer letter was sent in June 2005 to which I replied immediately. But the government gave me the appointment letter only after 10/08/2005. This delay was due to the absence of the Director to sign the letter. so I missed the old pension scheme by a matter of few days; not due to my fault but due to the absence of the director. Is there a way that I can appeal to the Government to grant me the old pension scheme ? Please advice. At October 11, 2010 at 4:28 AM,  Mohan Rao said… Sir, presently I am working as Regular Mazdoor in the basic pay of Rs. 5680-20200+GP 1800 (3 years service). Presently I have qualified SSC examination for the post of clerk in the grade pay of Rs.5200-20200 in the GP 1900. I would like to know the fixation of pay in the new post? At October 12, 2010 at 11:37 PM,  Equity Mutual Funds said… Nice blog, hope to see some more from your side on same, Pension schemes. Top Mutual Funds At October 16, 2010 at 2:12 AM,  Anonymous said… dear bloggers i am worked in central government from april 2006 to December 2008 and resigned my job. i want to get my contribution towards nps how can i get.. i am running from pillar to post for this no help to me... kindly give me solution with any reference..... At January 8, 2011 at 6:45 AM,  Anonymous said… sir i was working in clerical services in public sector bank joined in year 2008 but in nov 2010 i joined as probationary officer in same bank after giving technical resignation.sir according to internal circular if a clerical joins probationbary officer in same bank, though he will give resignation but his past services wil be counted for all benefits except senority. sir, kindly let us know what benefits will i get as far as two year of clerical service is cincerned? whether i will be covered in old pension scheme or new pension seheme . whether i will get leave balance standing in my a/c at the time of my resignation from clerical At June 6, 2011 at 10:38 PM,  Anonymous said… It is a total fraud by govt. of india with their employees. It is not a pension only a mockery of system. It proves how our bureaucracy mend the rules for their own benefits only. At June 15, 2011 at 12:25 PM,  HARISH KUMAR JAIN said… i have worked in M.P. government from November 2005 to May 2010 and resigned my job. i want to get my contribution towards nps how can i get.. i am running from pillar to post for this no help to me... kindly give me solution with any reference.. At June 22, 2011 at 1:20 AM,  Dr. shiddamallayya said… why cant recently joined after 2004 Central govt employees are not opposing NPS At October 11, 2011 at 4:41 AM,  Cashing in Pension said… I am relly thankful to you for sharing this important information. At October 12, 2011 at 3:09 AM,  Pritam Verma said… Thanks for sharing such a nice informative regarding Pension, i hope u will continue with the same. affiliate marketing in india At July 5, 2012 at 11:22 PM,  Rajaram said… Who had given the right to play with my hard earned money? They are giving this money to finance managers for the investment purpose. The returns that we are getting are nothing not even 8%. No it is somewhere around 6-7%. Those who proposed the NPS has no concern for the welfare of the Employees. No bureaucrats or politicians are bathers about their pension. Because they are earning crores of rupees. For them pension is nothing and they never bather about it. They will know the value of money of they work sincerely and only if they depends on their salaries. Government is risking our money for the sake of private investors. We should fight for our future. No bureaucrat or politician will come to help us. Let us join hands for our future At August 19, 2012 at 10:23 PM,  daisy simpson said… Planning for your retirement is an important factor in your overall wealth management and there are a number of Pension schemes available these days. New pension scheme At December 23, 2012 at 1:00 AM,  Unknown said… Sir, if we open Tier-II account under NPS than Govt. contribute same as Tier-I account, please also give me process for opening of Tier-II account and change for I-PIN and T-PIN, because my password is block, i send S-2 form to my Dept. account branch but accountant says we are not know any process for this, please help me. uplax21@gmail.com At February 4, 2013 at 12:41 AM,  venkat said… Thank you for sharing this post. questdial At February 27, 2013 at 10:21 PM,  Gexton said… This Is Very Nice Post And So Information Blog about Pension Release. pension release At March 2, 2013 at 6:33 AM,  Anonymous said… MY NAME IS SAKTHIVEL IAM WORKING IN QUASIGOVT IN CHENNAI AND COMING UNDER CPF SCHEME AND MY ORGANISATION IS FOLLOWING TN GOVT RULES .PLS LET ME KNOW WHETHER OLD PENSION SCHEME WILL COME IN FUTURE PERIOD I.E (GPF) AND AM I ELIGIBLE FOR GRATUITY AT THE TIME OF SUPER ANNUATION At July 11, 2013 at 12:59 AM,  Anonymous said… im presently working as a clerk with central government for last 7 since now I want to quit my job. my query is that how will I get my contribution under(NPS), what is the procedure that has to be followed when I resign. At August 12, 2013 at 9:12 AM,  Anonymous said… MY NAME IS SAKTHIVEL IAM WORKING IN QUASIGOVT IN CHENNAI AND COMING UNDER CPF SCHEME AND MY ORGANISATION IS FOLLOWING TN GOVT RULES .PLS LET ME KNOW WHETHER OLD PENSION SCHEME WILL COME IN FUTURE PERIOD I.E (GPF) AND AM I ELIGIBLE FOR GRATUITY AT THE TIME OF SUPER ANNUATION At August 22, 2013 at 9:30 AM,  KALPANA SENAPATI said… I am an employee of a nationalised bank. Will I get Gratuity after my retirement ????? At August 25, 2013 at 2:46 AM,  Anonymous said… MY NAME IS YENIKA KRISHNAIAH WORKING ORDNANCE FACTORY -MEDAK UNDER MINISTRY OF DEFENCE AS A JUNIOR WORKS MANAGER SINCE 09/08/2004. I AM GOING TO RESIGN (TECHNICALLY) BECAUSE I AM JOINING IN ANDHRA PRADESH STATE GOVT. PLEASE LET ME KNOW WHAT ARE THE BENEFITS I WILL GET AND WHETHER MY CPF (PENSION) WILL TRANSFER OR NOT.WHAT ABOUT OTHER BENEFITS. At August 29, 2013 at 6:41 AM,  Justin S Taylor said… ALA Trust mission make strengths to provide supplemental retirement benefit portable pension plan, savings trust for all families and labor union program for spent happy future life. At September 18, 2013 at 9:07 AM,  arvind pandey said… Dear sir, thanks for giving such example to understand the concept of NPS; however i want to know something more about the investment and below are the queries:- 1 how NAV and minimum return (like you have mentioned 8% above) are interconnected? 2 Currently my PFM is investing my amount under SBI PENSION FUNDS PVT. LTD. SCHEME - CORPORATE-CG scheme which have NAV 10.3255 as on 17th Sep 2013; however I want to switch my investment under SBI PENSION FUND SCHEME - CENTRAL GOVT scheme which have NAV 16.2913 as on 17thSeptember, 2013. Also please advise why there is big difference between two schemes. Am I eligible to switch to SBI PENSION FUND SCHEME - CENTRAL GOVT or not. Currently I am working in UCO Bank? 3. As per current NAV trend on my total investment INR 100000 the NAV is coming somewhere around INR 100121.71 (current NAV 10.3255*9697 (no of units purchased E, C, G types investement)as my PFM calculation)in last one year, then please advice where is the return (JUST INR 121.71 OR 0.12%). How could you say that there will be minimum yearly return 8% in case of NPS, in my case it is coming just 0.12% return on yearly basis? 4.If I will change my investment option to Active choice (say E-25%, C-50%, G-25%) then how the calculation will be done to achieve NAV at the end of the day? 5. Now as per current trend I dont want to invest my hard earned money in NPS. Is there option to change to previous PF option? Rgds Arvind Pandey arvindbit2k2@gmail.com 9717930666 At October 1, 2013 at 11:43 PM,  sureshmtrdc@gmail.com said… We have to fight with joined hands for the following discrepancies : We do not have gratuity. Our pension benefits are taxed No Assured returns (currently the returns are simple interest 8.5% only and this can result in loss also) At October 1, 2013 at 11:46 PM,  sureshmtrdc@gmail.com said… Old pension scheme employees contribute to GPF and withdraw the same immediately......they get 100% tax benefit for the same also the same year. Why is the govt not giving the same facility for NPS. The same can be implemented for tier-2. This is also another discrepancy At October 2, 2013 at 2:15 AM,  a poor govt employee said… new pension scheme is not a pension at all. if we compare it with old pension scheme it doesn't stand anywhere. In private company, employer contribution is 12% of emolument, then also no private employee says that he is going to get pension after retirement. Then how one can say after getting only 10% contribution from govt.It is just ridicules. I have one suggestion. Govt should make single account for all contribution of NPS and contribute 10% or 12% as it like. and assure all the employee to get pension as per old pension scheme. In this case all the employee will get justice and govt will also no burdened under any fiscal problem because incoming and outgoing of money from this fund will remain constant. If at all any fiscal problem arises, govt can inject some corpus in this fund as it does with any other funds. At November 25, 2013 at 10:50 PM,  Anonymous said… Is it possible for a person having two PRAN number? At May 15, 2014 at 11:41 PM,  Vivek Sati said… I worked in state govt. From april 2002 to jan 2014. Now I have joined a centre govt. And I come here through proper channel . (Technical resignation) I want to come to know that is NPS compulsory for me of it will remain my old pension scheme. At July 11, 2014 at 4:25 AM,  Debashis Mondal said… @ Vivek Sati- If your service in State Govt. has non-contributory pension scheme( like old pension scheme of Central Govt.), then your service will come in the purview of old pension scheme and hence NPS is not compulsory. for any assistance write at mr_debashis@rediffmail.com. At August 25, 2014 at 2:11 AM,  sanyam said… Want to withdraw few percentage of amount from NPS to purchase house, is it possible At August 25, 2014 at 2:13 AM,  sanyam said… Want to withdraw few percentage of amount from NPS to purchase house, is it possible At November 21, 2014 at 11:04 PM,  Anonymous said… guys created one blog http://scrapnps.blogspot.in/ go through it. At January 7, 2015 at 5:58 AM,  Anonymous said… try to fight for right to equality and to come back pension scheme as before 2004 At April 8, 2015 at 10:20 PM,  Unknown said… I have worked in an autonomous institution for four years under NPS (joined in 2010). And on submission of technical resignation, I joined other autonomous institution in 2015. Here, I want to know whether my past service (four years) will be counted or not ? Also, the EL I accumulated in the previous office be carried forwarded to new office ? Pls suggest and reply (ranjeet.0505@gmail.com) At May 18, 2015 at 3:22 AM,  Anonymous said… I have a query regarding NPS contribution start date, will a new central government employee avail the benefit of contribution in NPS right after joining the service or is there a specific wait time to start contributing. At August 21, 2015 at 6:38 AM,  kamlesh tank said… Very informative We all should combine to make change At November 12, 2015 at 3:21 AM,  Financial fina Funding google said… I am a private loan lender which have all take to be a genuine lender i give out the best loan to my client at a very convenient rate.The interest rate of this loan is 3%.i give out loan to public and private individuals.the maximum amount i give out in this loan is $1,000,000.00 USD why the minimum amount i give out is 5000.for more information contact us email finance2014911@gmail.com Your Full Details: Full Name :……… Country :…………. state:…………. Sex :…………. Address............ Tel :…………. Occupation :…….. Amount Required :………… Purpose of the Loan :…….. Loan Duration :………… Phone Number :……… Contact email: finance2014911@gmail.com At November 13, 2015 at 5:56 PM,  uday vanapalli said… Every month 10% of pay+DA is deducted from salary and credited to CPS account Is it possible to deposit more money( self credit) to CPS through net banking At January 27, 2016 at 11:38 PM,  Deva Das said… NPS violated the provisions of Gratuity Act 1972. No Bill passed in the Parliament. However, the system "No Gratuity to employees under NPS, has been implemented. NPS Rules for subscription, management of fund are formed, whereas procedure to get back the subscribed amount by the employee and the employer (Govt) especially for those who retire/quit/resign/invalided/disabled/dies with less than 10 years of service, / VRS employees who retire before attaining age of 60 years are not formed. Thus no Gazette, NPS Act, Rules/Regulations by Finance Ministry DOPT, DOPPW neither framed and nor issued. Further I have the following queries and questions to all employees covered under NPS :- 1. What is the minimum required service to get the pension benefits from NPS ? 2. Gratuity is a statutory benefit paid to employees who have rendered continuous service of at least 5 years and forms a part of salary (Supreme Court) and therefore it is neither a pension benefit, nor a retirement benefit. If so why the Gratuity is termed as pension benefit under NPS and the employees are denied Gratuity? 3. When your hard earned money is not available when you need especially during marriages of your children, to meet the expenses of customary rituals, last but not the least, the foremost duty "House building", what is the use. The life you do not enjoy during 60 years of your life, howfar it would be beneficial to you once you crossed 60 years of age ? 4. Is there any laid down procedure for getting back the money from NPS ? 5. NPS is purely meant for Pension and Family Pension. Since Gratuity is not paid out from NPS, why the Govt deny Gratuity to employees ? 6. Virtually speaking Pensionary benefits are SERVICE PENSION/family pension, which forms the parts of retirement benefit. The retirement benefits are all types of Pension/Family Pension/Gratuity/leave salary. The bureaucrats (Secretaries) must be aware that Gratuity is not a pension benefit. Is not not illegal to deprive Gratuity to employees on the reason that they are covered under NPS ? Dev (retd) At January 27, 2016 at 11:38 PM,  Deva Das said… NPS violated the provisions of Gratuity Act 1972. No Bill passed in the Parliament. However, the system "No Gratuity to employees under NPS, has been implemented. NPS Rules for subscription, management of fund are formed, whereas procedure to get back the subscribed amount by the employee and the employer (Govt) especially for those who retire/quit/resign/invalided/disabled/dies with less than 10 years of service, / VRS employees who retire before attaining age of 60 years are not formed. Thus no Gazette, NPS Act, Rules/Regulations by Finance Ministry DOPT, DOPPW neither framed and nor issued. Further I have the following queries and questions to all employees covered under NPS :- 1. What is the minimum required service to get the pension benefits from NPS ? 2. Gratuity is a statutory benefit paid to employees who have rendered continuous service of at least 5 years and forms a part of salary (Supreme Court) and therefore it is neither a pension benefit, nor a retirement benefit. If so why the Gratuity is termed as pension benefit under NPS and the employees are denied Gratuity? 3. When your hard earned money is not available when you need especially during marriages of your children, to meet the expenses of customary rituals, last but not the least, the foremost duty "House building", what is the use. The life you do not enjoy during 60 years of your life, howfar it would be beneficial to you once you crossed 60 years of age ? 4. Is there any laid down procedure for getting back the money from NPS ? 5. NPS is purely meant for Pension and Family Pension. Since Gratuity is not paid out from NPS, why the Govt deny Gratuity to employees ? 6. Virtually speaking Pensionary benefits are SERVICE PENSION/family pension, which forms the parts of retirement benefit. The retirement benefits are all types of Pension/Family Pension/Gratuity/leave salary. The bureaucrats (Secretaries) must be aware that Gratuity is not a pension benefit. Is not not illegal to deprive Gratuity to employees on the reason that they are covered under NPS ? Dev (retd)