Wednesday, 9 March 2016

NPS Exit and purchase of Annuity - PFRDA

NPS Exit and purchase of Annuity – Clarification issued by PFRDA in respect of interim arrangement for the purpose of buying annuity from the NPS maturity amount

In the case of pre-mature exit by NPS Subscriber, any annuity scheme provided by Annutiy Service provider that covers the spouse of NPS subscriber can be purchased

PENSION FUND REGULATORY
AND DEVELOPMENT AUTHORITY
B-14/A, Chhatrapati Shivaji Bhawan
Qutab Institutional Area,
Katwaria Sarai, New Delhi-110016

Circular
PFRDA/2016/5/Exits/01

03.03.2016

Subject: Clarifications on Settlement of Claims Relating To Exits, Involving Purchase of Annuities.

1. Whereas the Authority has notified the PFRDA (Exits and Withdrawals from National Pension System) Regulations, 2015 on 11th May, 2015 and is in force.

2. Number of claims have been received post the notification of the regulations covering pre-mature exits and also pertaining to claims arising out of the death of the subscriber under NPS. It has been brought to the notice of the Authority that as default annuity schemes mentioned under Regulation 3 of the PFRDA (Exits and Withdrawals from National Pension System) Regulations, 2015 have not been made available by the Annuity Service Providers yet, these claims could not be settled and thus there exists a difficulty in settling claims in accordance with the aforesaid Regulations.

3. The Authority having considered and upon being satisfied that the claims of the subscribers are not being able to be processed and settled in accordance with Regulation 3 of the PFRDA (Exits and Withdrawals from National Pension System) Regulations, 2015 and to ensure that the interest of the
subscribers are protected in this regard, has decided that till the time the default annuity schemes as mentioned under aforementioned Regulation 3, are made available to the subscribers, the claims both present and future shall be settled in the following manner:

Existing ProvisionsRemoval of difficulty
1.Regulation 3 (b) applicable in case of pre-mature exit (to extract proviso from regulations)In place of default annuity scheme
Any annuity scheme provided by the Annuity Service Provider such that scheme shall mandatorily cover the spouse of the subscriber.
2.Regulation 3 (c) applicable in case of death (to extract proviso from regulations)The entire accumulated pension wealth (100%) would be paid to the nominee/legal heir of the subscriber and there would not be any purchase of annuity/monthly pension.

  4. The above provisions for removal of difficulty shall be in force till the default annuity schemes are devised by the Annuity Service Providers and made available to the subscribers, and shall cease on a date notified by the Authority, whereafter settlement of claims shall be in accordance with the applicable provisions of the regulations. All other provisions of settlement including settlement of lump sum pension wealth shall be continued to be governed by the applicable provisions of the regulations.

    5. This clarification for removal of difficulty is issued by the Authority in exercise of its powers under Section 14 of the Pension Fund Regulatory and Development Authority Act, 2013 read with Regulation 39 of the PFRDA (Exits and Withdrawals from National Pension System) Regulations, 2015.
    
Yours faithfully,
    sd/-
    (Subroto Das)
    Chief General Manager

Healthcare, Education Facilities for NPPS Employees

Healthcare, Education Facilities for NPPS Employees

Facilities for NPPS employees

In respect of employees at the Nuclear Power Plant sites, healthcare facilities are provided to all the employees and their family members through Contributory Health Service Scheme (CHSS) of Department of Atomic Energy (DAE) through hospitals established by NPCIL/DAE at the Nuclear Power Plant sites and/or hospitals empanelled for the purpose. The wards of employees are provided education facility upto 12th standard through Atomic Energy Central Schools (AECS) managed by Atomic Energy Education Society (AEES), an autonomous grant-in-aid institution of DAE.

With regard to people living in the vicinity of Nuclear Power Plants, NPCIL has been contributing in the areas of education, healthcare and infrastructure & skill development through its Corporate Social Responsibility (CSR) and Neighborhood Development Programme (NDP). NPCIL is running primary health centers through NGOs and providing Out Patient (OPD) services. It also runs Mobile Medical Vans and conducts free medical camps. It has also upgraded several primary health centers and provided medical equipment, ambulances, prosthetic aids etc. A multi-specialty hospital is being set up at Kudankulam, Tamil Nadu under the Neighborhood Development Programme. In respect of education, school buildings have been constructed, improvements made in existing buildings, provisions for drinking water and toilet blocks made, educational aids including books, computers, bags & uniforms distributed and scholarships provided for meritorious students in neighborhoods of nuclear power plants.

NPCIL extends support for infrastructure around nuclear power plants like construction of roads, bridges, school buildings, drinking water schemes, water tanks, bore wells, community centres, crematoria, multi-purpose halls solar street lights etc. In the last two years and the current year, infrastructure projects totaling to about Rs. 67 crore have been planned.

This information was provided by the Union Minister of State (Independent Charge) Development of North-Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr Jitendra Singh in a reply to an unstarred question in Lok Sabha today.

Source: PIB News

7th Pay Commission – If not Hefty Pay Hike, Government Likely to Restore Allowances

7th Pay Commission – If not Hefty Pay Hike, Government Likely to Restore Allowances

Some good news for government employees anticipating Centre’s response to their demands on salary hike! As per reports, government may agree to reinstate some of the allowances that were subsumed by the 7th Pay Commission’s recommendations.

7th Pay Commission – If not Hefty Pay Hike, Govt Likely to Restore Allowances – The employees have been demanding that allowances which are stated to be subsumed and which are clubbed with others also need to be looked at.

Central government employees have been claiming that the 7th CPC has recommended to abolish large number of allowances and interest free advances without going into the exact relevance in certain departments where the allowances are provided for.

The employees have been demanding that allowances which are stated to be subsumed and which are clubbed with others also need to be looked at.

Pay commission had suggested abolition of many privileges and facilities including risk allowance, small family allowance, festival advance and motor cycle advance etc in its recommendations.

Following are the demands of the central government employees regarding reinstatement of allowances that were hit by the 7th CPC recommendations:
  1. Retain the rate of house rent allowance in place of the recommendation of the Commission to reduce it.
  2. Restructure the transport allowance into two slabs at Rs. 7500 and 3750 with DA thereof removing all the stipulated conditions.
  3. Fixed conveyance allowance: This allowance had no DA component at any stage_ This allowance must be enhanced to 2.25 times with 25% DA thereon as and when the DA crosses 50%
  4. Restore the island Special duty allowance and the Tripura Special compensatory remote locality allowance.
  5. The special duty allowance in NE Region should be uniform for all at 30%
  6. Overtime allowance whenever sanction must be based upon the actual basic pay of the entitled employee.
  7. Cash handling /Treasury allowance. The assumption that every transaction in Government Departments are through the bank is not correct. There are officials entrusted to collect cash and therefore the cash handling allowance to be retained.
  8. Qualification Pay to be retained.
  9. Small family norms allowances to be retained.
  10. Savings Bank allowance to be retained.
  11. Outstation allowance to be retained.
  12. P.O. & RMS. Accountants special allowance.
  13. Risk allowance.
  14. Break-down allowance.
  15. Night patrolling allowance.
  16. Special Compensatory hill area allowance.
  17. Special allowance for Navodaya Vidyalaya Staff.
  18. Dress Allowance ceiling to be raised to Rs. 32,400 per annum.
  19. Nursing Allowance to be raised to 2.25 times of Rs 4800.
  20. All fixed allowances must be raised to 2.25 times as per the principle enunciated by the Commission.

Restore the following advances and revise the same to 3 times.

  • Natural calamity advance.
  • Festival Advance.
  • LTC and TA advances.
  • Medical advance.
  • Education advance.
  • Vehicle advances including cycle advance.
Source: Zee News

Reviewing Pay and Allowances of Armed Forces Personnel

Reviewing Pay and Allowances of Armed Forces Personnel

The Government entrusted the task to a Pay Commission in 1973, at the time of setting up of 3rd Central Pay Commission. The Government had set up a Post War Pay Committee in 1947, a departmental pay committee (Raghuramiah Committee) during 1959-60 and another Departmental Committee in 1967 for review of pay and allowances of Defence Forces Personnel. There was general discontentment amongst the Services with respect to the recommendations of these Committees. Thereafter, the Government decided to entrust the examination of structure of emoluments, including benefits in cash and kind and death cum retirement benefits of the Armed Forces to the 3rd Central Pay Commission.

The terms of reference with respect to the Armed Forces personnel were different to the extent that the 3rd Central Pay Commission was not required to make recommendations on the conditions of service of the Armed Forces personnel. Though, the matters related to pension of Defence Service personnel was referred to 3rd Pay Commission, there has been no clubbing with civilians. The Commission felt that by and large, the principles followed by Armed Forces Pension Revision Committee (AFPRC) continue to be valid. The 3rd Pay Commission had considered the peculiar conditions of service and hierarchical set up of the Services, age of retirement, period of qualifying service pension etc. in respect of Armed Forces personnel. As such there has been no mistake in entrusting the matter to 3rd Central Pay Commission.

This information was given by Defence Minister Shri Manohar Parrikar in a written reply to Shri Mahendra Singh Mahra in Rajya Sabha today.

PIB

Indian Army faces shortage of 9,106 officers

Indian Army faces shortage of 9,106 officers

There is a shortage of 9,106 officers in the Indian Army and 1,265 officers in the Navy, the government said Tuesday.

“In army (excluding Army Medical Corps, Army Dental Corps and Military Nursing Service), as on July 1, 2015, against the authorised strength of 49,631 officers, held strength of officers is 40,525 with shortage of 9,106,” Defence Minister Manohar Parrikar said in a written response to a question in Lok Sabha.

The Navy, as on January 31, 2016, faced shortage of 1,265 officers. As of November 1, 2015, Air Force did not show any shortage of officers, Parrikar said.

The expenditure incurred on salary and allowances in financial year 2014-15 was Rs 94,233 crore for defence personnel and 35,458 crore for para-military forces.

Replying to another question, he said the strength of woman officers in the Indian Coast Guard is 27, which includes 17 pilots and 10 observers. The woman officers, employed for aviation duties, are involved in operations like prevention of illegal activities at sea and maritime surveillance.
PTI

Flash News

Central Government Employees Memes Exact Situation!

Central Government Employees Memes Exact Situation! Just for Fun :) #7th CPC Memes,  #7cpc memes, #Central Government Employees ...