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Poonamg
20-06-2011, 11:02 AM
Years back when CG employees opted for CPF there had been in fact no such difference in the benefit in CPF and GPF after superannuation. Gradually systems kept on changing and and today the net loss to CPF optee is Rs.16,000/- per month as compared to GPF optees, whereas in our country law of equal wages applies. Many of departments have converted the CPF optees into GPF. Govt should instruct all the offices under them to switch over the CPF optees to GPF keeping the law of equal wages in consideration.

Ramu India
19-07-2012, 04:34 PM
I more than agree on this point. Improvements in GPF scheme are most welcome but at the same time CPF holders should also have been provided incentives accordingly as natural justice.

At present:

1. Rate of interest on CPF accounts has been drastically reduced and financial gap between 2 schemes has become very wide thus while GPF holders are enjoying safety of protected financial interest, CPF holders are facing hard time.
2. So far government is not able to finalize any alternative scheme to GPF and employees are at the mercy of unsafe and fluctuating market trends.
3. Schemes like NPS and pension schemes by insurance companies are based on market and practically do not protect financial interests of an old person any near to GPF scheme.
4. Politicians are being provided pension for extremely short duration of public service but government servants does not get even after working for so many years for nation .
5. In several government organizations, employees have been allowed to changeover from CPF to GPF scheme illegally as per present rule (IITM for example) and so far nothing has be done by the government against them.
6. Even employees in accounts and administrations of some of the organizations are suspected to destroy or modify records to change CPF to GPF of own and some other employees by taking bribes.
7. All the above is creating anguish and desperation among rest of the simple, honest and hard working government employees leading to huge national quality work loss. Lots of agitations and court cases are piling up regarding CPF to GPF conversion requests causing unrest and wastage of precious manpower resource.

Therefore in my opinion:

1. The persons who joined on or before 31.12.2003 but retiring after a service of more than 20 (new cutoff for full pension) but less than 32 years (old cutoff for full pension) must be provided another option of switchover from CPF to GPF scheme immediately.
2. Until government comes up with some justifiable solution at par with earlier level of parity in CPF/GPF schemes, all the existing government employees (including forced NPS account holders) should be given option to changeover from CPF to GPF.
3. NPS scheme may continue for all citizens on the line of PPF scheme. However for government employees NPS should be optional/additional and not mandatory.

vinay1949
14-05-2015, 02:38 PM
I more than agree on this point. Improvements in GPF scheme are most welcome but at the same time CPF holders should also have been provided incentives accordingly as natural justice.

At present:

1. Rate of interest on CPF accounts has been drastically reduced and financial gap between 2 schemes has become very wide thus while GPF holders are enjoying safety of protected financial interest, CPF holders are facing hard time.
2. So far government is not able to finalize any alternative scheme to GPF and employees are at the mercy of unsafe and fluctuating market trends.
3. Schemes like NPS and pension schemes by insurance companies are based on market and practically do not protect financial interests of an old person any near to GPF scheme.
4. Politicians are being provided pension for extremely short duration of public service but government servants does not get even after working for so many years for nation .
5. In several government organizations, employees have been allowed to changeover from CPF to GPF scheme illegally as per present rule (IITM for example) and so far nothing has be done by the government against them.
6. Even employees in accounts and administrations of some of the organizations are suspected to destroy or modify records to change CPF to GPF of own and some other employees by taking bribes.
7. All the above is creating anguish and desperation among rest of the simple, honest and hard working government employees leading to huge national quality work loss. Lots of agitations and court cases are piling up regarding CPF to GPF conversion requests causing unrest and wastage of precious manpower resource.

Therefore in my opinion:

1. The persons who joined on or before 31.12.2003 but retiring after a service of more than 20 (new cutoff for full pension) but less than 32 years (old cutoff for full pension) must be provided another option of switchover from CPF to GPF scheme immediately.
2. Until government comes up with some justifiable solution at par with earlier level of parity in CPF/GPF schemes, all the existing government employees (including forced NPS account holders) should be given option to changeover from CPF to GPF.
3. NPS scheme may continue for all citizens on the line of PPF scheme. However for government employees NPS should be optional/additional and not mandatory.

Dear Member
I fully agree with views of member that CPF holder are being tortured and grossly mistreated by the Govt comparision to GPF holder of employed pre 1.1.86. One must be given option rather freedom to switch over form one scheme to other.