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rakeshmehra30
20-07-2010, 01:33 PM
if some body could suggest what is the case if one resigns from service after joining under new pension scheme, my friend who joine joine in 2004 resigns and now working in cpsu, his accounts officer says he is unaware of the rules.

ramanrao60
20-07-2010, 03:07 PM
under nps scheme the same account is continued even after resignation and the monthly deductions in the new job get credited to the same account

in other words during the service life of an employee only one nps account is maintained irrespective of change of employer

RKPATHAK
20-07-2010, 03:45 PM
Where a govt servant member of nps joins new govt organsation, his account shall be transferred(.) if he is not a govt employee after resignation, decision on payment is pending with pferda(.) you may contact pferda, whose address is :
Pferda
icadr building
6, vasant kunj
new delhi 110070

prasannakumar
20-07-2010, 08:16 PM
under nps scheme the same account is continued even after resignation and the monthly deductions in the new job get credited to the same account

in other words during the service life of an employee only one nps account is maintained irrespective of change of employer

Mr. Raman Rao,
As I am an employee governed by GPF scheme and a field worker, I did not pay much attention to the NPS. Your reply to this thread was altogether a new thing for me. I should start learning about this.

Here I would like to add that, the scheme is almost like the one in force for plantation labours who are governed by the plantation labour act in Kerala/Karnataka/Tamilnadu with slight modifications.

Regards
Prasanna Kumar

ramanrao60
21-07-2010, 09:50 AM
For operationalisation of NPS, as per the NPS architecture, each employee covered under NPS is required to be registered in the CRA system who is linked to the administrative offices, the Drawing and Disbursing Officer (DDO), who in turn is linked to the Pay and Accounts Office (PAO) which in turn is linked to Principal Accounts Office (PrAO). Hence, your organisation has to identify the administrative offices which will be functioning as PrAO, PAO and DDO and register them before registration of the Subscribers. The steps to be followed for operationalisation of NPS and availing the services of CRA are attached with the mail. The format of the forms for registration of the administrative offices (N1 form for PrAO, N2 form for PAO and N3 form for DDO), subscribers (form S1) and the Master Creation Form is also attached. These forms are also available at our website ‘www.npscra.nsdl.co.in’ under the menu –Downloads-Forms-Autonomous bodies-Central Autonomous Bodies.

For more details about registration of the administrative offices, subscribers as well as upload of subscribers’ contribution details to CRA and remittance of funds to Trustee Bank, you may refer to the SOPs available in the downloadable section of the aforesaid website ‘www.npscra.nsdl.co.in’.

ramanrao60
21-07-2010, 02:44 PM
PFRDA (Pension Fund Regulatory and Development Authority), India has opened New Pension Scheme ( NPS) to all Indian citizens starting today, on 1st May, 2009.

Its a safe, flexible and portable scheme introduced by Indian Government’s cell PFRDA; to replace the existing System of Pension System in the country and to provide income security after retirement.

PFRDA was established by the Government of India to promote old age income security by establishing, developing and regulating pension funds, to protect the interests of subscribers to schemes of pension funds.


Highlights

Any Indian citizen will be able to start a New Pension Scheme account and can start investing any amount up for a pension.

Open to all citizens aged between 18-60 years
Exit age for new pension scheme will be 60 years.
Attractive investment schemes to choose from
Professional record-keeping and fund management
Technology driven, Transparent fee based system
Withdrawal facility as and when you wish, under Tier II
No entry and exit loads
Multiple fund managers
Multiple investment options
Minimum Contribution per installment: Rs 500
Minimum Contribution per year: Rs 6000
Minimum Contributions per year : 4
Under this scheme, an investor can deposit their contributions in Bank Branches and Post offices all over the country. Unlike EPF (employee provident fund schemes), there will be only one number allotted to each investor, In case of change of job or location of job, it can be easily transferred to another branch. Each Investor will be allotted a unique 16 digit Permanent Pension Account Number (PPAN) it will valid for life like current PAN number. There will be no need to open a new account every time you change job or location unlike the current EPF (Employee Provident Fund)

In starting, there will be 23 Points of Presence (POP) including PSU banks and post offices, and they will be provide account opening and other transactions facility. Following is the participating POP list: Allahabad Bank, Axis Bank, Bajaj Allianz General Insurance Co, Central Bank of India, Citibank, CAMS (Computer Age Management Services), ICICI Bank, IDBI Bank, IL&FS Securities, Kotak Mahindra Bank, LIC (Life Insurance Corporation of India), Oriental Bank of Commerce, Reliance Capital, State Bank of Bikaner & Jaipur, State Bank of Hyderabad, SBI (State Bank of India), State Bank of Indore, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore, South Indian Bank, Union Bank of India, UTI.

rakeshmehra30
21-07-2010, 03:51 PM
thanks to all
for ur replies

Kumar Iyer
27-06-2012, 01:38 PM
Can Autonomous Organisation extend NPS coverage to its employees who are appointed on contract basis for 2-3 year period..at par with other regular NPS employees? Or whether Corporate Plan or NPS Lite to be opted?

If regular plan can be extended to them, what next after they quit the Organisation on completion of their Contract Period..and does not join an office with NPS Coverage..or decide not work further..etc.. Are they supposed to contribute in the regular NPS Scheme..on their own..till they reach 60 years of age..to get continued coverage under NPS?