Friday, 3 March 2017

Owning a House Becomes Easier for Army Personnel


Owning a House Becomes Easier for Army Personnel

1. Army personnel by virtue of deployment in remote areas find it extremely difficult to invest time in buying a good house, therefore, to fulfill this essential need and meet the aspirations, AWHO has come up with a pragmatic business model called the ‘Private Industry Collaborative Business Model’ which will facilitate acquiring houses from reputed private builders at discounted prices for Army personnel & Veer Naris. A Pilot Project is being undertaken in Delhi/ NCR and based on its success, similar ventures will be executed in other locations.

2. Major advantages of this concept are detailed market research to identify the most suitable builder/ project, negotiations for price reduction, due diligence and buyer friendly terms & conditions. Prop Equity, a leading Real Estate Data & Analytics Consultant firm has been selected after a prolonged process to undertake the facilitation process forward.

3. This historical MoU was signed by Lt Gen Rakesh Sharma, UYSM, AVSM, VSM, Chairman (Ex-Officio) AWHO and Mr Samir Jasuja, MD, Prop Equity Analytics on 3rd Mar 2017.

Source: PIB

7th Pay Commission: Higher allowances woes plague central govt employees

7th Pay Commission: Higher allowances woes plague central govt employees

New Delhi: Central government employees have not got their higher allowances under the 7th Pay Commission recommendations over the last seven to eight months.

A central government employees union leader, said the government has not released the higher allowances for central government employees for last seven months.

He said the higher allowances issue has affected about 48 lakh serving central government employees and 52 lakh pensioners, who could not pay their house rents, tuition fees of children, installments of home and vehicle loans and insurance premiums.

We were promised in August, 2016 that the higher allowances (as per the 7th Pay Commission) would be given to us within four months, but we haven't got its till now.

They (the government) tell us that the model code of conduct has come into effect from January 4 to March 8 for five states assemblies poll process, so they can’t announce the higher allowances. Actually they do not intend to pay the higher allowances in time. In October last year, the Finance Secretary Ashok Lavasa, who is the head of the Committee on Allowances, said, he was ready with the report to submit the Finance Minister Arun Jaitley but Jaitley didn't receive the report of allowances, the union leader told.

The union leader said even though the 7th Pay Pay Commission was implemented in August, 2016, the central government employees have not yet been given the higher allowances till date.

Earlier, the government has given higher basic pay in August 2016 with arrears, effective from January 1, 2016 to its employees on the recommendations of the 7th pay commission but the hike in allowances other than dearness allowance referred to the Committee on Allowances for examination as the pay commission had recommended of abolishing 51 allowances and subsuming 37 others out of 196 allowances.

Accordingly, existing allowances are now paid to the central government employees according to the 6th Pay Commission recommendations until issuing of higher allowances notification.

However, the Finance Minister Arun Jaitley, promised to address the issue of higher allowances after the completion of the polls of the five states.

TST

Clarification on implementation of 7th Central Pay commission


Clarification on implementation of 7th Central Pay commission

Office of the Principal CDA (Pensions)
Draupadi Ghat, Allahabad - 211 014
REGISTERED
Circular NO.574
Dated: 20th February,2017
Subject: Clarification on implementation of 7th Central Pay commission (CPC)

Reference: This office circular No.570 dated 31.10.2016.
(Available on this office website www.pcdapension.nic.in)

In terms of Para-9 of GOI, MOD letter dated 29th October 2016, the implementation of 7th CPC recommendations relating to methodology for calculation of disability element has been referred to the Anomalies Committee. The disability element which was being paid to pre-2016 Defence Pensioners as on 31.01.2015 will continue to be paid till decision on the recommendations of Anomalies Committee is taken by the Government. Accordingly, disability element will be continued @ which was paid as on 31.12.2015 (i.e. @ 119% DR), bur mean while before the implementation of the 7th CPC, dearness relief (DR) has been increased @ 125% w.e.f 01.01.2016 and paid to the pensioners.

2. The matter regarding recovery on account of payment of excess dearness relief, additional pension on disability pension & war injury element was raised by various pension Disbursing Agencies (PDAs) after the issue of this Office Circular No.570 dated 31.10.2016 on the basis of GOI, MOD letter NO.17(01)/2016-D(Pen/Pol) dated 29th October 2016 regarding implementation of 7th CPC.

3. Now, it has been decided that recovery of excess amount, if any, paid on account of payment of DR @ 125% instead of DR 119% while working out disability element/war injury element and recovery of additional pension on disability element/war injury element paid w.e.f 01.01.2016 to pensioners who attainted the age of 80 years and above will be withheld till further orders.

4. This circular has been uploaded on this office websire www.pcdapension.nic.in for dissemination to all alongwith Defence pensioners and pension Disbursing Agencies.
(S C SAROJ)
Sr.Accounts Officer(P)
Signed Copy

Revision of casualty pensionary award in respect of Pre-2006 Armed Force Officers and JCO/ORs Pensioners/Family Pensioners


Revision of casualty pensionary award in respect of Pre-2006 Armed Force Officers and JCO/ORs Pensioners/Family Pensioners
Office of the Principal CDA (Pensions)
Draupadi Ghat, Allahabad - 211 014
REGISTERED
Circular NO.576
Dated: 27th February,2017

Subject: Amendment to GOI,MOD letter No.16(01)2014/D(Pen/Pol) dated 18th May 2016 issued for revision of casualty pensionary award in respect of Pre-2006 Armed Force Officers and JCO/ORs Pensioners/Family Pensioners.

Reference: This office circular No.560 dated 08.06.2016.
(Available on this office website www.pcdapension.nic.in)

Copy of GOI,MOD letter No.16(01)/2014-D(Pen/Pol) dated 16th January,2017 is forwarded herewith for further necessary action at your end.
  1. Minimum of fitment table for the rank 'MWO' group 'X' has been amended in Annexure-B (Air Force) attached with the GOI, MOD letter No.16(01)2014/D(Pen/Pol) dated 18th May 2016 (Circulated vide Circular No.560). Accordingly, Special Family Pension, 2nd Life Award of Special Family Pension, Liberalized Family Pension & 2nd Life Award of Liberalized Family Pension in respect of MWO 'X' have also been revised.
For:
RankMin. of fitment tableSFP2nd Life Award of SFPLFP2nd Life Award of LEP
MWO217901307465372179013074
Read:
RankMin. of fitment tableSFP2nd Life Award of SFPLFP2nd Life Award of LEP
MWO219701318265912197013182

3.It is requested that all affected cases may please be revised at your end and pension may be revised accordingly.

4. These orders/instructions may please be provided/circulated to all pension Disbursing Authorities (DPDOs/paying Branches/Treasuries/PAOs etc) under your jurisdiction to ensure the revision at the earliest.

5. All other terms and conditions shall remain unchanged.

6. This circular has been uploaded on this office website www.pcdapension.nic.in for dissemination to all alongwith Defence Pensioners and Pension Disbursing Agencies.
(S.C.Saroj)
Sr.Accounts Officer(P)
Signed Copy

Allowing multiple choice to the subscribers/corporates to change Investment Option - PFRDA

Allowing multiple choice to the subscribers/corporates to change Investment Option and Asset Allocation Ratio during the Financial Year

Allowing multiple choice to the subscribers/corporates to change Investment Option - PFRDA

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
B-14/A, Chhatrapati Shivaji Bhawan
Qutab Institutional Area,
Katwaria Sarai,
New Delhi-110016
Phone : 011-26517503
Fax : 011-26517507
Website : www.pfrda.org.in
01 March 2017
CIRCULAR
PFRDA/2017/8/PD/2
To,
All Stakeholder in the National Pension System

Subject: Allowing multiple choice to the subscribers/corporates to change Investment Option and Asset Allocation Ratio during the Financial Year

1. As per the extant guidelines, subscriber can change his/her existing Pension Fund (PF), the investment option(Active or Auto choice) as well as asset allocation ratio (allocation among asset class-Equity/Corporate Bonds/Government securities/Alternate investment ) once in a financial year. This scheme preference is applicable to the existing pension corpus as well as to the prospective subscriptions. Similarly in the NPS-Corporate Model where the choice of Pension Fund and Investment Options is exercised at Corporate level, the Corporates also have the option to change the pension fund and investment option and also asset allocation ratio once in a financial year.

2. In order to provide more choices in terms of investment option and asset allocation, the following has been decided:
(i) The subscribers/corporates will have the choice for change of the investment option (Active or Auto choice) as well as asset allocation ratio (allocation among asset class-Equity/Corporate Bonds/Government Securities/Alternate Investment) two times in a financial year.
This scheme preference will be applicable to the existing pension corpus as well as to the prospective subscriptions. The option will be available separately for Tier I and Tier II accounts.
(ii) The choice of change of Pension Fund shall remain once in a financial year.
4. The changes will come into effect from 01st April 2017.
Yours faithful
(Akhilesh Kumar)
Deputy General Manager
Signed copy

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