CONTRIBUTORY PENSION w.e.f. 01-04-2013

Pension - Implementation of National Pension System to employees joining service with effect from 01.O4.2013 - Orders issued.


Read: G.O(P) No. 441/2012 Fin dated 08.08.2012

In accordance with the national pattern adopted by the Central Government and various State Governments, Government vide G.O read above, decided, in principle, that the National Pension System (NPS) shall be
introduced with effect from 01.04.2013 which shall be applicable to all appointments made thereafter.
Government, after having examined the matter in detail, are pleased to implemenl- National Pension System in the State with effect from 01.O4.2013 and issue the following further orders:

i. The NPS would be mandatory for all appointments made on or after 01.04.2013.
ii. The NPS wiil work on a defined contribution basis and will have twoTiers. viz. Tier I and Tier II. Contribution to Tier I will be mandatory for the employees whereas Tier II will be optional and at the discretion of the Government servants.
iii. In Tier I, the Government servant shall make a contribution of 10% of his / her Basic Pay + Dearness Aliowance which will be deducted from his/ her salary every month by the Treasury Officer / Drawing
and Disbursing Officer concerned. Government will also make a matching contribution. The amount so deducted from the salary of the Government servant and the amount of matching contribution will be transferred to a pension account in order to invest the same as per the provisions of Government of India / Pension Fund Regulatory and Development Authority (PFRDA), a statutory body constituted by the Government of India. The entire amount under Tier I (Government servant contribution + matching Government contribution +investment returns) will be kept in a non withdrawable pension Tier I account.
iv. Tier II contribution will be kept in a separate account that will be made available at the option of the Government servant. Government will not make any contribution to Tier II account.
v. The pension funds of the Government servants will be managed by Pension Fund Managers (PFMs) nominated by the PFRDA and the records will be maintained by the National Securities Depository Ltd.
(NSDL) that functions as the Central Record keeping Agency (CRA) of the Scheme.
vi. A Government servant can exit at the retirement age from Tier I of the Scheme. At exit, it would be mandatory for him/ her to invest 40% of pension wealth to purchase an annuity which will provide for pension for the lifetime of the individual and his/ her spouse/ dependent parents. The Government servant would receive a lump sum of the remaining pension wealth, which the individual would be free to utilize in any manner. In case of Government seryants who leave the Scheme before attaining the retirement age the mandatory annuitization would be 80% of the pension fund.
vii. The Scheme will apply to all employees to whom Part III, KSR is applicable.
viii. It will apply to all PSUs where pensionary benefits as per Part III,KSR are granted .

3. The guidelines, detailed accounting procedure to be followed in the Scheme and necessary amendments to KSR will be issued separately.

Click the link below to download the Government order
Download

16 comments:

എയ്യാല്‍ക്കാരന്‍ said...

Can you please clear a dought..? An employee whose probation has declared in a department, if get a new PSC appointment in a higher post in the same department after 01-04-2013, what type of pension he will get..? Statutory or Compensatory..?

Administrator said...

Pension is eligible for the employee from the very first day of his service. So he will get Statutory pension.

എയ്യാല്‍ക്കാരന്‍ said...

Two opinions are there among employees in this matter. Anyway, thank you for your answer. Whether Government has to make further orders regarding this..?

Anonymous said...

what about a last grade servant getting by transfer pramotion after april 1

Anonymous said...

sir, I have been working as a l.p school assistant since 2006. I expect an advice from psc as u.p school assistant next accademic year. What I want to know is that whether I can continue in statutory pension scheme?

Administrator said...

As per the G.O. (P) No. 20/2013/Fin dated 07.01.2013, National Pension System (NPS) has been implemented for the State employees who are appointed on or after 01.04.2013. As such, those employees who are appointed on or after 01.04.2013 would come under the ambit of the NPS, even if they had been appointed in another post under the State Government on or before 31.03.2013. In this connection, various representations have been received requesting to retain, those who are appointed upto 31.03.2013 in Government service, aided institutions and institutions where Part Ill, Kerala Service Rules is applicable, in the Kerala Service Rules, Part III Pension Scheme when they get fresh appointments in other categories.
Government have examined the matter in detail and are pleased to order that Government Servants/ Autonomous Body Employees/ Aided Institution Employees who were appointed in substantive vacancies on regular basis on or before 31.03.2013 ·and who were in such posts on 31.03.2013 and to whom the KSR, Part III Pension Scheme applies in their respective institutions, would be allowed mobility and for this, they can exercise option for the continuance of KSR, Part III Pension Scheme based on the combined service in accordance with Part Ill, KSR. For this purpose, such employees would be allowed to exercise option to be governed by KSR, Part III Pension Scheme, within 3 months of joining their fresh appointment in the form appended to this G.O, to the appointing authority concerned.

Administrator said...

As per the G.O. (P) No. 20/2013/Fin dated 07.01.2013, National Pension System (NPS) has been implemented for the State employees who are appointed on or after 01.04.2013. As such, those employees who are appointed on or after 01.04.2013 would come under the ambit of the NPS, even if they had been appointed in another post under the State Government on or before 31.03.2013. In this connection, various representations have been received requesting to retain, those who are appointed upto 31.03.2013 in Government service, aided institutions and institutions where Part Ill, Kerala Service Rules is applicable, in the Kerala Service Rules, Part III Pension Scheme when they get fresh appointments in other categories.
Government have examined the matter in detail and are pleased to order that Government Servants/ Autonomous Body Employees/ Aided Institution Employees who were appointed in substantive vacancies on regular basis on or before 31.03.2013 ·and who were in such posts on 31.03.2013 and to whom the KSR, Part III Pension Scheme applies in their respective institutions, would be allowed mobility and for this, they can exercise option for the continuance of KSR, Part III Pension Scheme based on the combined service in accordance with Part Ill, KSR. For this purpose, such employees would be allowed to exercise option to be governed by KSR, Part III Pension Scheme, within 3 months of joining their fresh appointment in the form appended to this G.O, to the appointing authority concerned.

Download GO(P)No 209/2013/ /Fin Dated 07/05/2013 for details

Anonymous said...

Thank you sir.

Anonymous said...

WHAT ARE THE THINKS THAT SHOULD BE KEPT IN MIND AND SHOULD BE INCORPORATED IN THE JOINING ORDER WHILE ADMITTING AN EMPLOYEE WHO JOINS AFTER 1ST APRIL 2013 IN AN OFFICE. WHETHER THERE IS ANY GUIDELINES TO CUT THE SHARE OF PENSION

Anonymous said...

Sir,, p,I have joined in university of kerala service as a faculty member. From another state government university. After 01/04/2013. Where as I was employed as a faculty member since 2001 in. Another state government university, please tell me. That. I will be. Covered under statutory. Pension or Contributory pension

Kurian Cherian said...

1)what about the GPF of an employ of contributary pension, Pls specify the details.
2)what about the pension cutting system of the contributary pension employ? percetage of cutting?, processing charges?,incomtax , is any order issued by the govt regarding this matter? PRAN numer etc...

Anonymous said...

sir, i am a clerk in Panchayat Dpt joined before 31-03-2013. I plan to go on long leave for one or two years to work as Guest Lecturer in Govt or Aided college for which i hav qualified UGC/NET. since i joined in service on 22-11-2012 my probation has not yet been declared. if i go on long leave i know that my seniority wil be lost that i don t mind. but my doubt is whether i wil be included in statutory pension scheme or Contributory pension scheme when i rejoin after leave?

Anonymous said...

sir,I am working as a pharmacist.Even though I received appointment order in september 2011,I can joined only on 01/04/2013 due to my higher study.Can I get the benefit of statutory pension?If answer is positive,describe the procedure I wants to follow for the same.

Cahssayakkad Ayakkad said...

Sir, I have appointed in kerala Govt.service in August 2013. I got PRAN and PRAN kit. From which month I can contribute my amount as per NPS ? I s it necessary to start PF account to make my contribution?

Cahssayakkad Ayakkad said...

Sir, we are aided higher secondary school teachers who got appointments as HSST Junior teachers on 6/12/2011. On 23/2/2013 we are up graded as HSSTs ( but monetory benefit is only from 11/4/2013) .So, our doubt is how the probation periods are determined ( both HSST Junior and HSST )

Sajeesh said...

Sir, my brother is working in KSRTC and he now got appointed in Agriculture Dept. as Agriculture Assistant. How he should quit the job in KSRTC so that he can avail the statutory pension as per GO(P).No.209/2013/Fin dated 07/05/2013. By resigning or by getting relieved. Please help..