Important Announcements And Approvals In Board Meeting Of PFRDA - Ministry Of Finance

Important Announcements and Approvals in Board Meeting of PFRDA

“Modification in Partial Withdrawal rules under NPS & Increasing cap on equity investment in active choice to 75% from current 50% for Private Sector Subscribers”

Ministry of Finance

Important Announcements and Approvals in Board Meeting of PFRDA

Pension Fund Regulatory and Development Authority (PFRDA) is established by the Government of India for regulation and development of Pension Sector in order to protect the old age income security of subscribers. PFRDA takes various initiatives from time to time in order to simplify and improve the operational issues in National Pension System (NPS) like new functionality development under NPS architecture, simplification of account opening, withdrawal, grievance management etc.

In this regard, during the recently held Board Meeting some important decisions were taken to improve the operational and regulation issues in National Pension System (NPS). Some of the decisions taken in the Board Meeting are as follows:

Budget announcement- Rating criteria for investments– Proposal on changing the investment grade rating from ‘AA’ to ‘A’ for corporate bonds was approved. The change is subject to a cap on investments in ‘A’ rated bonds to be not more than 10% of the overall Corporate Bond portfolio of the Pension Funds. This initiative will enlarge the scope of investment for the Fund Managers while ensuring credit quality.

Introduction of a Common Stewardship Code: The proposal on adoption of Common Stewardship Code, as a measure of good Corporate Governance, was approved. Further, it was also approved that the Principles enumerated in such code shall be circulated to all Pension Funds for compliance and implementation. Adoption of these Principles by Pension Funds will improve their engagement with investee companies and benefit subscribers.

Modification in Partial Withdrawal rules under NPS: Partial withdrawals will now be allowed to NPS subscribers who wish to improve their employability or acquire new skills by pursuing higher education/ acquiring professional and technical qualifications. Further, individual NPS subscribers who wish to set up a new business/ acquire new business will also be allowed to make partial withdrawals from his contributions. Other terms applicable to partial withdrawals will remain unchanged.

Increasing cap on equity investment in active choice to 75% from current 50% for Private Sector Subscribers: Presently there is a cap of 50% on equity investment under active choice in NPS. The proposal on increasing cap on equity investment in active choice to 75% from currently 50% has been approved by the Board. However, it comes with a clause of tapering of the equity allocation after the age of 50 years.

Currently, NPS and APY have a cumulative subscriber base of over 2.13 crore with total Asset Under Management (AUM) of more than Rs. 2.38 lakh crore.

Source: PIB

DoPT - Music And Dance Competition For Wards Of CG Employees

Music and Dance competition for wards of Central Government Employees

F.No.18/3/2017-18-CCSCSB

Government of India

Ministry of Personnel Public Grievances & Pensions

(Department of Personnel and Training)

CENTRAL CIVIL SERVICES CULTURAL AND SPORTS BOARD

Room No.361, B Wing, 3rd Floor

Lok Nayak Bhawan, New Delhi

Date: 03-05-2018

CIRCULAR

Sub: Music and Dance competition for wards of Central Government Employees

Central Civil Services Cultural & Sports Board has been organising the Music, Dance and Shor Play competition for central Government Employees for the last many years. There were demands from a large number of participants and employees that a similar programme may also be started for their wards to motivate and encourage them.

2. It is therefore, proposed to organise the Music and Dance competition for wards of Central Government Employees at Auditorium on 30-31 May, 2018. The entry for the competition should be sent in the prescribed form to the Board’s Office latest by 25th May, 2018 at Room No.361, 3rd Floor, Lok Nayak Bhawan, Khan Market, New Delhi-110003 or by email at sportsdopt@gmail.com

2. The Competition will in held in the following categories:

4. Decision of the judges will be final and no appeal against their decision would be entertained.

5. For further queries , Neelu Sun (9910983139) Convener, CCSCSB (Music, Dance and Short Play) may be contacted.

6. The circular may be given wide publicity.

To

The Welfare Officer of all Ministries/Departments

Area Welfare Officer of all Government colonies

sd/-

(Kulbhushan Malhotra)

Secretary (CCSCSB)

Central Civil Services Cultural Sports Beard

(Department of Personnel & Training)

Undertaking

I understand that Board will take sufficient care about the general safety of the children during the competition. I shall not hold the CCSCSB responsible for any accident/casualty during the competition.

(Signature Of parents/Guardian)

Note: each participant should with his/her guardian during competition.

Authority: www.dopt.gov.in

GDS - Indefinite Strike From 22nd May 2018

GDS Committee Report Implementation – Indefinite Strike from 22.5.2018

GDS COMMITTEE REPORT IMPLEMENTATION

INDEFINITE STRIKE BY POSTAL EMPLOYEES FROM 22-05-2018

EXTEND FULL SUPPORT AND SOLIDARITY

AIPEU-GDS(NFPE) has given notice for nationwide indefinite strike from 22nd May 2018 demanding immediate implementation of all positive recommendations of Kamalesh Chandra Committee Report on Gramin Dak Sevaks.

All NFPE affiliated unions have also given call extending full support and solidarity to make the strike a grand success.

Nationwide protest demonstrations will be held on 10th May 2018 in front of all offices of Department of Posts.

Confederation of Central Govt Employees & Workers, National Secretariat calls upon all its affiliates and State / District C-o-Cs to extend full support and solidarity to the indefinite strike from 22-05-2018 and also to join the protest demonstration on 10th May 2018.

Yours fraternally

M.Krishnan

Secretary General

(M)&whatsapp: 09447068125

e-mail:mkrishnan6854@gmail.com

Source: Confederation

7th CPC - Risk And Hardship Allowance For Fire- Fighting Staff

Risk and Hardship Allowance for Fire-Fighting Staff as per 7th CPC

No.II-27012/59/2017-PF-I(CF No.3410146)

Government of India

Ministry of Home Affairs

Police-II Division

(PF-I Desk)

North Block, New Delhi,

Dated, the 2nd January, 2018

Office Memorandum

Sub: Implementation of recommendations of the Seventh Central Pay Commission regarding grant of Risk and Hardship Allowance for Fire-Fighting Staff

Consequent upon the acceptance of the recommendations of the Seventh Central Pay Commission by the Government, vide Ministry of Finance’s Resolution No.11-1/2016-IC dated 6th July, 2017, the President is pleased to sanction Risk and Hardship Allowance for Fire-fighting staff of CISF, at the following rates:-

2. The above rates shall increase by 25 percent whenever the Dearness Allowance payable on the revised pay structure goes up by 50 percent.

3. These orders shall take effect from 1st July, 2017.

4. This issues as per Ministry of Finance (Dept. of Expenditure) Resolution dated 6th July 2017, as vetted by the Integrated Finance Division of this Ministry, vide Dy No.3410146/Fin.II/17 dated 2.1.2018.

sd/-

(Joginder Prasad)

Under Secretary to the Govt of India

Authority: www.cisf.gov.in