Tuesday, 25 June 2019

Pension Funds and Investment Pattern in Tier-I of NPS for Central Government subscribers


Pension Funds and Investment Pattern in Tier-I of NPS for Central Government subscribers

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

CIRCULAR
PFRDA/2019/12/ REG-PF/1
Date: 8th May, 2019

SUBJECT: Introduction of choice of Pension Funds and Investment Pattern in Tier-I of NPS for Central Government subscribers - reg.

Reference is invited to the Gazette Notification F.No.1/3/2016-PR dated 31 st January, 2019 issued by Ministry of Finance, Department of Financial Services, modifying Ministry of Finance's Notification No. 5/7/2003-ECB dated 22nd December, 2003, based on the Government's decision on the recommendations of a Committee set up to suggest measures for streamlining the implementation of National Pension System (NPS).

Accordingly, it has been decided to introduce the following options for Central Government subscribers:

(i) Choice of Pension Fund: As in the case of subscribers in the private sector, the Government subscribers shall also be allowed to choose anyone of the pension funds including Private sector pension funds. They could change their option once in a year. However, the current provision of combination of the Public-Sector Pension Funds will be available as the default option for both existing as well as new Government subscribers.

(ii) Choice of Investment pattern: The following options for investment choices shall be offered to Government employees:

(a) The existing scheme in which funds are allocated by the PFRDA among the three Public Sector Undertaking fund managers based on their past performance in accordance with the guidelines of PFRDA for Government employees shall continue as default scheme for both existing and new subscribers.

(b) Government employees who prefer a fixed return with minimum amount of risk shall be given an option to invest 100% of the funds in Government securities (Scheme G).

(c) Government employees who prefer higher returns shall be given the options of the following two Life Cycle based schemes:
(A) Conservative Life Cycle Fund with maximum exposure to equity capped at 25% - LC-25.
(B) Moderate Life Cycle Fund with maximum exposure to equity capped at 50% - LC-50.
The subscribers may exercise one of the above choices of Investment Pattern twice in a financial year.

(iii) Implementation of choices to the legacy corpus: Transfer of a huge legacy corpus of more than Rs. 1 lakh crore in respect of the Government sector subscribers from the existing Pension Fund Managers is likely to impact the market. It may be practically difficult for the PFRDA to allow Government subscribers to change the Pension Funds or investment pattern in respect of the accumulated corpus, in one go. Therefore, for the present, change in the Pension Funds or investment pattern is allowed in respect of incremental flows only.

(iv) Transfer of legacy corpus in a reasonable time frame: PFRDA shall draw up a scheme in due course for transfer of accumulated corpus as per new choices of Government subscribers in a reasonable time frame of say five years. Once PFRDA draws up this scheme, change in the Pension Funds or investment pattern shall be allowed in respect of the accumulated corpus in accordance with that scheme.
  • For investment option as per para 2 (ii) (a) above, all other terms and conditions as contained in the investment guidelines issued by the Authority dated 03.06.2015 for NPS Schemes (Applicable to Scheme CG, Scheme SG, Corporate CG and NPS Lite Schemes and APY) and subsequent amendments made thereto shall be applicable. Further, for investment options as per para 2 (ii) (b) or 2 (ii) (c) (A) or 2 (ii) (c) (8) above, all other terms and conditions as contained in the investment guidelines issued by the Authority dated 04.05.2017 in respect of NPS Schemes {Other than Govt. Sector (CG & SG), Corporate CG, NPS Lite and APY} and subsequent amendments made thereto shall apply.
  • This circular is issued in exercise of powers of the Authority under sub-clause (b) of sub-section (2) of Section 14 read with Section 23 of the PFRDA Act, 2013 and sub regulation (1) of Regulation 14 of the PFRDA (Pension Fund) Regulations, 2015.
The above arrangements are applicable w.e.f. 1st April, 2019.
(A. G. Das)
Executive Director
Source: PFRDA

Empanelment of Hospitals for Ayushman Bharat


Ministry of Health and Family Welfare
Empanelment of Hospitals for Ayushman Bharat

25 JUN 2019

Under Ayushman Bharat - Pradhan Mantri Jan ArogyaYojana (AB-PMJAY), all public hospitals (Community Health Centre and above), in the States implementing PMJAY, are deemed empanelled. Hospitals belonging to Employee State Insurance Corporation (ESIC) may also be empanelled based on the bed occupancy ratio parameter. All National institutes run by Ministry of Health & Family Welfare as well as Institute Of National Importance are part of the empanelled healthcare provider network for PMJAY.

As far as private hospitals are concerned, they are empanelled by State Health Agencies of respective States. For empanelment, guidelines have been issued to all the States laying down the detailed criteria and process. The guidelines & list of empanelled hospitals are available on the website www.pmjay.gov.in.

The Minister of State (Health and Family Welfare), Shri Ashwini Kumar Choubey stated this in a written reply in the Rajya Sabha here today.

PIB

Government proposes to increase the minimum pension for EPF pensioners?


Government proposes to increase the minimum pension for EPF pensioners?
EPFO

GOVERNMENT OF INDIA
MINISTRY OF LABOUR AND EMPLOYMENT
LOK SABHA

STARRED QUESTION NO: 23
ANSWERED ON: 24.06.2019

EPF Pension

N.K. Premachandran
Will the Minister of

LABOUR AND EMPLOYMENT be pleased to state:-
(a)whether the Government has received report from the Committee appointed for study of the issues of EPF pensioners and if so, the details thereof;
(b)the details of the recommendations of the said Committee;
(c)whether the Government has initiated action for implementation of the recommendations of the said Committee and if so, the details thereof;
(d)whether the Government proposes to increase the minimum pension for EPF pensioners and if so, the details thereof; and
(e)whether the Government also proposes to stop the realisation of amount from the pension on account of commutation of pension after realising the commuted amount and if so, the details thereof?

ANSWER

MINISTER OF STATE (IC) FOR LABOUR AND EMPLOYMENT
(SHRI SANTOSH KUMAR GANGWAR)

(a) to (e): A statement is laid on the Table of the House.

STATEMENT REFERRED TO IN REPLY TO PARTS (a) TO (e) OF LOK SABHA STARRED QUESTION NO. 23 TO BE ANSWERED ON 24.06.2019 BY
SHRI N.K. PREMACHANDRAN REGARDING EPF PENSION.

(a) & (b): Yes, Sir. The Committee appointed for Evaluation and Review of the Employees’ Pension Scheme, 1995, headed by Additional Secretary, Ministry of Labour and Employment has submitted the report on 21st December, 2018. The report inter-alia has given observations/ recommendations on the following issues:
  • Increase of Minimum Monthly Member Pension
  • Period over which the Average Pensionable Salary is calculated
  • Restoration of commuted value of pension
  • Re-introduction of the provision for commutation of pension
  • Restoration of the provision of Return of Capital
  • Linking the monthly pension with cost of living index
  • Issues of payment of pension on higher/actual wages to employees of exempted establishments.

As far as pension on higher wages is concerned, the issue is sub-judice.

(c): The consultation process on the recommendations/observations on the Committee’s report has been initiated with Employees’ Provident Fund Organisation (EPFO) and Central Board of Trustees (CBT). CBT is a tripartite body representing trade unions, employers besides representatives of Central and State Governments.

(d): The decision on increase of minimum pension for EPF is dependent on the outcome of the consultation process and has impact on Budgetary resources of the Government as the Committee has recommended that increase in pension has to come from the Budgetary resources.

(e): No decision has been taken to restore the commuted value of pension, as it has implications on sustainability of the funds under Employees’ Pension Scheme, maintained by EPFO.

Source: LOK SABHA

Defence: Vacancy in the Army

Defence

Vacancy in the Army

Ministry of Defence
24 JUNE
The total posts vacant in the Army as on 01.01.2019 are 45,634, including 7,399 posts which are above the rank of Second Lieutenant. Recruitment in the Army is a continuous process and vacancies occur due to various reasons like accretions of posts from time to time, tough selection procedures, difficult service conditions coupled with perceived high degree of risk involved in the service career as also inherent limitation of number that could be trained without compromising the quality of training. Vacancies are filled progressively through recruits who complete training.

Publicity expenditure for recruitment in Army including recruitment notifications during the last three years is as follows:

S.No.Financial YearAmount (in Rs. lakhs)
12016-17378.87
22017-18199.47
32018-19216.19

This information was given by Raksha Mantri Shri Rajnath Singh in a written reply to Shri Rakesh Sinhain Rajya Sabha today.

PIB

Pandit Deendayal Upadhyay National Welfare Fund for Sportspersons

RAJYA SABHA

Pandit Deendayal Upadhyay National Welfare Fund for Sportspersons

GOVERNMENT OF INDIA
MINISTRY OF YOUTH AFFAIRS AND SPORTS
RAJYA SABHA
UNSTARRED QUESTION NO-292
ANSWERED ON-24.06.2019

Pandit Deendayal Upadhyay National Welfare Fund for Sportspersons

292 . Dr. Banda Prakash
Will the Minister of Youth Affairs & Sports be pleased to state the details of funds released/ utilized/ disbursed/ sanctioned under the scheme ‘Pandit Deendayal Upadhyay National Welfare Fund for Sportspersons’ to provide for lump sum financial assistance for medical treatment to outstanding sportspersons now living in indigent circumstances, State/ UT-wise?

ANSWER
THE MINISTER OF STATE (INDEPENDENT CHARGE)
FOR YOUTH AFFAIRS AND SPORTS
[KIREN RIJIJU]

The details of the funds sanctioned under the scheme ‘Pandit Deendayal Upadhyay National Welfare Fund for Sportspersons’ for medical treatment of sportspersons during 2017-18, 2018-19 and 2019-20 (as on 20.6.2019), State/UT-wise are given in Annexure.

Source: RAJYA SABHA

NPS - Withdrawal of resignation of Central Government Servants Appointed after 31.12.2003 covered under the National Pension System

NPS

Withdrawal of resignation of Central Government Servants Appointed after 31.12.2003 covered under the National Pension System

No.28035/2/2014- Estt.(A)
Government Of India
Ministry Of Personnel, Public Grievances and Pensions
Department Of Personnel & Training

North Block, New Delhi - 110 001
Dated: 10th June,2019
Office Memorandum

Subject: Withdrawal of resignation of Central Government Servants Appointed after 31.12.2003 covered under the National Pension System (NPS) - reg.

The undersigned is directed to say that instructions on the procedure to be followed for Resignation from Service have been provided vide Ministry of Home Affairs O.M.No.39/6/57-Ests.(A) dated 06.05.1958, Department of Personnel & Training (DoPT) O.M.No.28034/25/87-Estt (A) dated 11.02.1988, No.28034/4/94-Estt. (A) dated 31.05.1994 and No.28035/2/2007 -Estt.(A) dated 04.02.2007. Para 5 of DoPT O.M. dated 11.02.1988 referred to above, provides the procedure for withdrawal of resignation as governed by Rule 26 (4) to (6) of Central Civil Services (Pension) Rules, 1972. References are being received from Ministries/ Departments on the request for withdrawal of resignation by Government servants appointed after 31.12.2003 and for whom CCS (Pension) Rules are not applicable. The matter of withdrawal of resignation of Government servants of Central Civil Services/Posts, appointed after 31.12.2003 who are covered under the National Pension System (NPS) and for whom CCS (Pension) Rules, 1972 is not applicable has been considered in this Department and with the approval of the competent authority, it has been decided that the following guidelines/instructions may be followed while considering the request for withdrawal of resignation of the aforesaid Government Servants.

2. The appointing authority may permit a person to withdraw his resignation in the public interest on the following conditions, namely:
  • that the resignation was tendered by the Government Servant for some compelling reasons which did not involve any reflection on his integrity. efficiency, or conduct and the request for withdrawal of the resignation has been made as a result of a material change in the circumstances which originally compelled him to tender the resignation.
  • that during the period intervening between the date on which the resignation became effective and the date from which the request for withdrawal was made, the conduct of the person concerned was in no way improper;
  • that the period of absence from duty between the date on which the resignation became effective and the date on which the person is allowed to resume duty as a result of permission to withdraw the resignation is not more than ninety days;
  • that the post, which was vacated by the Government servant on the acceptance of his resignation or any other comparable post, is available.
3. Request for withdrawal of a resignation shall not be accepted by the appointing authority where a Government Servant resigns his service or post with a view to taking up an appointment in or under a private commercial company or in or under a corporation or company wholly or substantially owned or controlled by the Government or in or under a body controlled or financed by the Government.

4. when an order is passed by the appointing authority allowing a person to withdraw his resignation and to resume duty, the order shall be deemed to include the con donation of interruption in service for the purpose.

5. No withdrawal from NPS corpus shall be permissible within a period of 90 days from the date on which the resignation becomes effective. i.e the resignation is accepted by the competent authority and the Government servant is relieved of his duties. However, the aforesaid condition shall not be applicable in case of death of the government servant after the resignation becomes effective.

6. The provision for withdrawal of resignation shall not be applicable for temporary Government Servants.

7. Above guidelines/instructions will be applicable only for the Government Servants appointed on central civil service/posts after 31.12.2003 who are covered under the National Pension System (NPS) and for whom CCS (Pension) Rules,1972 is not applicable. Further, these guidelines/instructions will be applicable till the time the statutory rules regarding withdrawal of resignation for such Government Servants are notified.

8. This O.M. shall be prospective and cases already settled shall not be opened.

9. this issues in consultation with the office of comptroller and Auditor general of India.

10. It is requested to bring it to the notice of all concerned for strict compliance.
sd/-
(Kaabindra Joshi)
Director

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