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Friday, January 18, 2013

Retirement Benefits under New Pension Scheme

Retirement Benefits under New Pension Scheme

It was informed by Minister of State (PERSONNEL,PUBLIC GRIEVANCES AND PENSIONS) that Central Govt. employees covered under New Pension Schemeare entitled for DCRG Benefits viz., Death Cum Retirement Benefits, in cases where a Government employee covered by NPS is retired on invalidation/disability and in the case of death of a Government employee covered by NPS in service, on the same rates as are applicable under the old pension scheme, i.e. CCS (Pension) Rules, 1972.


GOVERNMENT OF INDIA
MINISTRY OF PERSONNEL,PUBLIC GRIEVANCES AND PENSIONS
LOK SABHA
UNSTARRED QUESTION NO 1903
ANSWERED ON 05.12.2012
RETIREMENT BENEFITS
Query:
Will the Minister of PERSONNEL,PUBLIC GRIEVANCES AND PENSIONS be pleased to state:-
(a) whether the Union Government employees recruited after January, 2004 are not eligible for retirement benefits such as pension, GPF and gratuity;
(b) if so, the reasons therefor;
(c) whether not providing gratuity, pension and GPF facility is a discrimination with employees recruited after January, 2004 as the same is being provided to the employees of private sector;
(d) if so, the details thereof;
(e) whether the Government proposes to provide all retirement benefits including gratuity to the Government servants recruited after January, 2004; and
(f) if so, the details thereof?
Answered by Minister of State in the Ministry of Personnel, Public Grievances and Pensions and Minister of State in the Prime Ministers Office. (SHRI V. NARAYANASAMY)
A new restructured defined contribution pension system for the new entrants to Central Government service, except to the Armed Forces, replacing the system of defined benefit pension including GPF, was notified on 22nd December, 2003. The Government employees appointed on or after 1.1.2004 and governed by the New Pension System can withdraw 60% of their Pension Fund as a lumpsum when they retire and the balance 40% of their wealth is used to purchase an annuity scheme from a lifeinsurance company of their choice, which will pay him/her a monthly pension for the rest of his life. In casethe employees leave the New Pension Scheme prior to age 60, the mandatory anuitization would be 80% of the pension wealth.
The monthly annuity under the New Pension Scheme is only a replacement of pension on retirement and family pension on death after retirement. The benefits of Death-cum-Retirement Gratuity (DCRG) and pension/family pension have been provisionally allowed, vide Department of Pension & Pensioners` Welfare OM No. 38/41/06-P&PW(A) dated 5.5.2009, in respect of the Central Government servants covered by the New Pension Scheme in cases where a Government Servant is retired oninvalidation/disability and in the case of death of a Government servant in service, on the same rates as are applicable under the old pension scheme, i.e. CCS (Pension) Rules, 1972.
The details of DCRG payable to employees of Central Government under NPS are as under:
(i) The retirement gratuity is payable to the retiring Government servant. A minimum of 5 years qualifying service and eligibility to receive service gratuity/ pension is essential to get this one time lump sum benefit. Retirement gratuity is calculated @ l/4th of a month`s Basic Pay plus Dearness Allowance drawn before retirement for each completed six monthly period of qualifying service. The maximum retirement gratuity payable is 16 XA times the Basic Pay, subject to a maximum of Rs. 10 lakhs.
(ii) If the Government Servant dies while in service, the death gratuity shall be paid to his family at the rates furnished in the table below:
S.No.
Length of Qualifying Service
Rate of Death Gratuity
1.
Less than one year
2 times of emoluments
2.
One year or more but less than 5 years
6 times of emoluments
3.
5 years or more but less than 20 years
12 times of emoluments
4.
20 years or more
Half of emoluments for every completed six monthly period of qualifying service subject to a maximum of 33 times of emoluments.
Maximum amount of Death Gratuity admissible is Rs. 10 lakhs w.e.f. 1.1.2006.

21 comments:

Anonymous said...

There was news in 2009 that paramilitary will be exempted from NPS .what is the current status of this.

Anonymous said...

JAI HIND SIR,
PARA MILITARY KA SERVICE PAY ALLOWANCE KAB TAK LAGU HOGA.
&
50% D.A. KO BASIC MEIN KAB MERGE
KIYA JAYEGA.
PLS RPLY.
JAI HIND SIR.

Mukesh Singh said...

Dear Sir,

I would like to know that if any person Works with BSF for 11 years, will he get pension.

Please let me know.

Thanks,

Mukesh Bisht

Anonymous said...

sir i joined crpf for ct/gd post on 7/3/2003, abd resigned on 30/8/2011.sir i received only my deposited gpf and , leace encachment, sir what i eligible to gratuity and other benifit.my contact no. 9785190933

Anonymous said...

Respected sir my self N.S.BISHT CISF BATCH NO # 754490700 MY SERVICED TIME 38YEAR'S I HAVE Retired 1-FEB-2014 BUT I HAVE NOT GETTING MY pension LAST FIVE MONTHS PLEASE.. but unfortunately still iam not get any pension amount so for your information inform me about my pension release do the needful action Pension Scheme for paramilitary forces

N.S.BISHT 09555610910 said...

Respected sir my self N.S.BISHT CISF BATCH NO # 754490700 MOB NO # 09555610910 MY SERVICED TIME 38YEAR'S I HAVE Retired 1-FEB-2014 BUT I HAVE NOT GETTING MY pension LAST FIVE MONTHS PLEASE.. but unfortunately still iam not get any pension amount so for your information inform me about my pension release do the needful action Pension Scheme for paramilitary forces

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Anonymous said...

D/Sir ,

My father worked in Bsf 3 battalion kolkatta for 5 year 7 month 28 days and has been medically bored out in 1975 with 45% disability. we filed a application and on behalf of out application we received some letter which we have to filled and send back to frontier bsf kolkatta Dated 24/10/2014. still we dont have any response Delhi Adam directorate EOP section says they refer our letter to MHA ..and we r still waiting please confirm and help us ...

shikha sharma said...

I need suggestions please my father had served Assam rifle for 9 years then he left the job due to some issues we that time he was not mentally fit and left the job but we didn't get anything from Assam rifle I want to know we are eligible for the pension or some other facilities or not please please give your valuable suggestions

Anonymous said...

RESPECTED SIR MY NAME IS S.SUNDER NAIK IAM WORKING FROM CRPF JOINING DATE 5/5/2004,IHAVE LOST MY JOB BECAUSE DISMISSFROM SERVICE,DATE6/6/2010.ICANNOT RECEVED ANY DCPF AMOUNT AM APPLOYING DCPF AMOUNT BUT REJECTED MY FORMS WHY SIR MY CELL NO#09652852300M,AND MY FORCE NO:041565448.SIR PLEASE HELP ME BECAUSE IAM SAFARING VERY POOR.THANKU SIR

Anonymous said...

RESPECTED SIR MY NAME IS S.SUNDER NAIK IAM WORKING FROM CRPF JOINING DATE 5/5/2004,IHAVE LOST MY JOB BECAUSE DISMISSFROM SERVICE,DATE6/6/2010.ICANNOT RECEVED ANY DCPF AMOUNT AM APPLOYING DCPF AMOUNT BUT REJECTED MY FORMS WHY SIR MY CELL NO#09652852300M,AND MY FORCE NO:041565448.SIR PLEASE HELP ME BECAUSE IAM SAFARING VERY POOR.THANKU SIR

vishal sharma said...

Same problem is of my father, he was in army

vishal sharma said...

If u find any solution pls tell me

vishal sharma said...

If u find any solution pls tell me

vishal sharma said...

Same problem is of my father, he was in army

AMBYAK said...

Minimum qualifying service for gratuity is five years.

AMIT KUMAR SINGH said...
This comment has been removed by the author.
AMIT KUMAR SINGH said...

Sir,
please provide me information about retirement scheme of CRPF like if I will retire in 2017 then what type benefit I eligible as financially method, below are mention my contact email id.
Email Id-getgoals1108@gmail.com

Thanks,
Amit kr. Singh

Ashu Sharma said...

Good information presenting here for the RPF Recruitment

Palak said...

Great article!! Keep publishing such details on your website.
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saranya t said...

My service itbp 7.7.2007. Retirement7.7.2018..total amount ?.