NPS To OPS: Major Change in NPS
Govt Contribution Raised to 14%
New Pension Scheme to Old Pension Scheme: As per the media news, the Union Cabinet approved on Thrusday(6.12.2018) to raise the contribution to National Pension Scheme (NPS) to 14 per cent.
Major Changes has been inititated by the Central Government in the exisiting National Pension Scheme applicable for the employees joined on or after 1.1.2004 in Central Govenment Services. The minimum contribution is now 10% of basic pay. The Government contribution may be raised to 14% of basic pay.
At present, the monthly contribution amount would be 10% of the salary and dearness allowance (DA) to be paid by the employee and matched by Government.
The Cabinet Committee also approved to increase the commutation percentage from 40% to 60%.
At present, there is only one default scheme for Tier I for Government employees. In the default scheme, the contribution is allocated to three PFMs, viz. SBI Pension Funds Private Limited, UTI Retirement Solutions Limited and LIC Pension Fund Limited in a predefined proportion.
With effect from 10.06.2015, each of the PFMs will invest the funds in the proportion of upto 50% in Government Securities and Related Investments, upto 45% in Debt Instruments and Related Investments, Upto 5% in Short-term Debt Instruments and Related Investments, upto 15% in Equities and Related Investments and upto 5% in Asset Backed, Trust Structured and Miscellaneous Investments.
More News About NPS to OPS
- NPS – 42 Questions And Answers To Know
- NPS Contribution 14% of Basic Pay plus DA – Gazette Notification
- Tripura Finance Department -NPS To Govt Employees
- Withdrawal of Pension Facility in NPS
- NPS To OPS – No Proposal To Replace – Parliament Q&A on 28.12.2018
- NPS – New Norms For Withdrawal
- NPS For NVS Staffs
- NPS Latest News: Processing of Partial Withdrawal request
- NPS To OPS – Karnataka Govt Employees Protest Against NPS
- Scrap NPS & Restore OPS -Demands Day 12th Dec 2018
- Union Cabinet Approved Contribution 10% To 14% – NPS To OPS
- NPS To OPS – NPS Demand To Scrap It
- AP Issued Orders – NPS To OPS
- NPS To OPS – Govt Contribution Raised Upto 14%
- Nationwide Strike For NPS To OPS On 8th&9th Jan 2019
- Decisions Of The National Secretariat Meeting Of Confederation Held At New Delhi On 20th Nov 2018
- Delhi – Proceedings Of The Delhi Legislative Assembly On The Resolution Of Ending NPS
- Delhi – NPS To OPS Resolution Adopted By Lagislative Assembly
- Delhi CM Announced NPS To OPS
- Confederation – Attention To NPS Pensioners
- Old Pension To Railway Young Employees
- Abolition of Contributory Pension Scheme
- Reversion To Old Pension Scheme Due To Administrative Delay
- An Overview Of NPS – Confederation
- Lok Sabha Q&A – Income Tax Rebate On NPS & PPF Maturity Value
- PFRDA – Annuities Under NPS Survey
- NPS Defined Contribution – Sailent Features
- Karnataka – Partial Withdrawal Of NPS Amount By The NPS Employee
- RTI Reply – New Pension Scheme
- NJCA To Hold A Meeting On 3rd July,2018- Improvement In Minimum Wage And Fitment Formula
- CPAO – Submission Of Life Certificate
- New Pension System (NPS) – NC JCM Staff Side
- Ministry Of Finance – Important Announcements And Approvals In Board Meeting Of PFRDA
- FATCA Self-Certification Submit Through Online – NPS Subscribers
- FATCA Compliant Status Of NPS Subscribers
- New NPS Subscriber Registration Form
- Re-Introduce Old Defined Benefit Pension System Of NPS
- NC JCM Staff Side – Pending Issues Of Central Government Employees
- Brief of the meetings held between the Staff Side(JCM) and Official Side
- Minimum Guaranteed Pension Under NPS
- Exemption of Railways from New Pension Scheme (NPS)
- Three Major Changes In The NPS Including Withdrawal Norms
- Partial Withdrawal Under NPS
- NFIR – Exemption From National Pension System (NPS)
- PFRDA Permit The Age Group Of 18-65 Years To Join NPS
- Rajya Sabha Q&A – Easing Process Of Aadhaar Linking By NPS Subscribers
- NC JCM Staff Side – NPS Committee Report Finalised And Submitted To Government
- CGHS – Guidelines On Benefits To CG Employees (Service/Retired) Covered Under NPS
- PFRDA Organized Conference For Implementing Of NPS
- PFRDA – Awarness About Features To Join NPS
- PFRDA – Public Notice Of Fraudulent Activities In Name Of NPS
- NPS Increased Maximum Age Of Joining 65 Years
- Additional Benefit On Death/Disability Of Government Servant Covered By New Pension Scheme
- Revision Of Additional Relief On Death/Disability Of Government Servants Covered Under New Pension Scheme (NPS)
- National Convention Of Central And State Government Employees – Confederation
- Financial Security For India’s Elderly – PFRDA
- Various Charges Levied On NPS Subscribers
- Withdrawal From National Pension Scheme Is Taxed
- Implementation After NPS Meeting Held On 17th March 2017
- Restoration of old pension system in place of Contributory Pension System
- National Pension Scheme Allowes Multiple Choice To The Subscribers
- Confederation – Withdrawal of NPS is not within the purview of NPS Committee
- Gratuity Pay under New Pension System
- Updation Of AADHAAR Number – NPS
- Hopes Of Younger Generation Smashed – NPS Committee
- Benefit Of Tax- Exemption Announced For NPS Subscriber
- NC JCM Staff Side – Streamlining The Implementation Of The National Pension Scheme To CG Employees
- NPS Committee Meeting To Be Held On 20.1.2017 – NC JCM Staff Side
- Extension Of Scope Of Additional Relief On Death/Disability Of Government Servants Covered By The New Defined Contribution Pension System(NPS)
- Measures For Streamlining The Implementation Of The National Pension System For CG Employees
- NPS Has More Than One Crore Subscribers With Total AUM Of More Than Rs.1,60,000 Crores
- PFRDA Organizes Conference For State Governments To Discuss Implementation Of National Pension System
- Revision Of NPS Employees To Old Pension Scheme: Rajyasabha Q & A
- Implementation of National Pension System (NPS) in Central Autonomous Bodies (CABs)
- New Pension System – Features released recently for NPS Subscribers
- Extend the benefit of Gratuity to all NPS Employees – No struggle will go in vain – Confederation
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