Friday, March 09, 2018
Partial Withdrawal under National Pension Scheme (NPS)
The Pension Fund Regulatory Development Authority (PFRDA) has relaxed the norms for partial withdrawal under the National Pension Scheme (NPS). In accordance with the PFRDA (Exits and Withdrawals under the National Pension System) (First Amendment) Regulations 2017, the subscriber ought to be subscribed to the National Pension System, at least for a period of three years from the date of his or her joining to such system, to be eligible to make partial withdrawals, under specific circumstances as specified in such regulations.
The NPS subscribers can withdraw after three years from the date of joining the system and a maximum of three times during the entire tenure of subscription under NPS, but the partial withdrawal is linked with contributions made by the subscriber. The subscriber shall be permitted to withdraw accumulations not exceeding twenty-five per cent of the contributions made by him or her and standing to his or her credit in his or her individual pension account, as on the date of application for withdrawal.
Earlier the subscriber under NPS was permitted to withdraw accumulations not exceeding twenty-five per cent of the contributions made by him or her after 10 years from the date of his or her joining the system, and a maximum of three times during the entire tenure of subscription under NPS.
This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in written reply to a question in Rajya Sabha today.
The NPS subscribers can withdraw after three years from the date of joining the system and a maximum of three times during the entire tenure of subscription under NPS, but the partial withdrawal is linked with contributions made by the subscriber. The subscriber shall be permitted to withdraw accumulations not exceeding twenty-five per cent of the contributions made by him or her and standing to his or her credit in his or her individual pension account, as on the date of application for withdrawal.
Earlier the subscriber under NPS was permitted to withdraw accumulations not exceeding twenty-five per cent of the contributions made by him or her after 10 years from the date of his or her joining the system, and a maximum of three times during the entire tenure of subscription under NPS.
This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in written reply to a question in Rajya Sabha today.
7th CPC Dearness Allowance from Jan-2018: Cabinet approves 2% DA to CGE
7th CPC Dearness Allowance from Jan-2018: Cabinet approves 2% DA to CGE
Press Information Bureau
Government of India
Cabinet
07-March-2018 19:21 IST
Cabinet approves two percent Dearness Allowance to Central Government employees
The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval to release an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners w.e.f. 01.01.2018 representing an increase of 2% over the existing rate of 5% of the Basic Pay/Pension, to compensate for price rise.
This will benefit about 48.41 lakh Central Government employees and 61.17 lakh pensioners.
The combined impact on the exchequer on account of both Dearness Allowance and Dearness Relief would be Rs.6077.72 crore per annum and Rs.7090.68 crore in the financial year 2018-19 (for a period of 14 months from January, 2018 to February, 2019).
This increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Central Pay Commission.
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Tuesday, March 06, 2018
NFPE leaders Odisha meet the Secretary (Posts) in Bhubaneswar
A team of NFPE leaders of Odisha Circle headed by Com. B Samal, Circle Secretary, AIPEU, Group-C, Odisha Circle met Sri A N Nanda, Hon'ble Secretary (Posts) here in Bhubaneswar on 5.3.2018 during the Secretary's visit to Odisha for releasing a Commemorative Postage Stamp on Biju Pattnaik, the visioner, legendary leader and former Chief Minister of Odisha.
Com. Samal accompanied with Com. Dishmanta Sethi, Circle Secretary, R - III, Com. Ashok Kumar Mohanty, Circle Secretary, R - IV and Com. Lingaraj Sahoo, Vice-President, AIPEU, Group-C, Bhubaneswar Division discussed on CSI issues, allotment of funds for building maintenance and sanction of pending TA / Medical bills, deficiencies in implementation of Cadre Restructuring Proposal in Odisha Circle etc. in the kind presence of Dr. S K Kamila, Chief PMG, Odisha, Col. Jaleswar Kanhar, PMG, Berhampur, Sri Lalitendu Pradhan, PMG, Sambalpur, Sri R P Gupta, DPS(HQ) and Sri S R Swain, DA(P),Cuttack.
The Secretary (P) assured for allotment of sufficient fund to meet the hardware issues and accordingly suggested the Chief PMG to start processing immediately.
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