Latest NPS News - Nps Benefit For NVS Staffs - CGWNEWS

Latest NPS News - Nps Benefit For NVS Staffs - CGWNEWS

CGWNEWS - Union Cabinet Approved Contribution 10% To 14% Of NPS

CGWNEWS - Union Cabinet Approved Contribution 10% To 14% Of NPS

CGWN - NPS to OPS: What Is The National Pension Scheme

CGWN -NPS to OPS: What Is The National Pension Scheme

CGWN: AP Issued Orders For NPS To OPS

CGWN: AP Issued Orders For NPS To OPS

CGWN - Nationwide Strike For NPS To OPS On 8th&9th Jan 2019

CGWNEWS - Nationwide Strike For NPS To OPS On 8th&9th Jan 2019

CGWNEWS - 12th Dec 2018 As Demands Day - SCRAP NPS & RESTORE OPS

CGWNEWS - 12th Dec 2018 As Demands Day - SCRAP NPS & RESTORE OPS 

CGWNEWS - Resolution Of NPS To OPS Adopted By Legislative Assembly Of NCT Of Delhi

CGWNEWS - Resolution Of NPS To OPS Adopted By Legislative Assembly Of NCT Of Delhi

Conference On Implementation Of NPS By Central Autonomous Bodies

Implementation of National Pension System by Central Autonomous Bodies

An Overview of New Contributory Pension System (NPS) – Confederation

An Overview of New Contributory Pension System (NPS) – Confederation

NJCA - Revision Of Minimum Wage

Revision of Minimum Wage, Improvement of Fitment Formula and abolition of National Pension System (NPS) – NJCA

Lok Sabha Q&A - Minister Replied Various Questions Of NPS & OPS

New Pension Scheme(NPS) Vs Old Pension Scheme(OPS)

Minister Replied In Parliament - Not Possible To Revert Back To Old Pension Scheme

Not Possible to Revert Back to Old Pension Scheme

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

FATCA Compliant Status Of NPS Subscribers

NPS Subscribers: Know your FATCA Compliant Status

Click here to Know your FATCA Compliant Status

Online Submission of FATCA Self-Certification

Subscribers registered on or after July 1, 2014 are mandatorily required to submit FATCA Self–certification

Please follow the steps given below for online Self-Certification:

• Log-in to your NPS account (please visit www.cra-nsdl.com)
• Click on sub menu “FATCA Self-Certification” under the main menu “Transaction”
• Submit the required details under “FATCA/CRS Declaration Form”
• Click on “Submit”
• You are requested to read and tick “Declaration & Authorization by all customers”
• Click on “Confirm”
• Enter OTP received on your registered mobile number.
• After Authentication through OTP, Acknowledgment for the completion of FATCA Self-certification will be displayed.
• You are requested to provide Online Self-certification even if you have submitted /sent the physical Self-Certification form to CRA.

Kindly note, you are required to submit physical FATCA Self-certification form to your Nodal Office or CRA if your Birth Place, Citizenship and Residence for the Tax Purposes is other than India or you are an US person. The format of the self-certification is provided in below link.

FATCA Self Declaration Format

The form is required to be submitted to Central Recordkeeping Agency (CRA) for NPS at the following address:

NSDL e-Governance Infrastructure Limited,

1st Floor, Times Tower, Kamala Mills Compound, Senapati Bapat Marg,

Lower Parel, Mumbai – 400 013

In case you require any clarification or assistance with respect to the above, please contact Ms. Ranjana Chavan / Ms. Mamta Jadhav at 022-40904242.

Please mention “Self-Certification – FATCA/CRS Declaration Form” on top of the envelope

Self-induced contribution (Voluntary and Tier II) and Withdrawal will not be allowed in the CRA system for FATCA non-compliant Subscribers.

Authority: https://www.npscra.nsdl.co.in/

BPMS - Minimum Guaranteed Pension Under NPS

Minimum Guaranteed Pension under National Pension System (NPS) – BPMSREF: BPMS/17th TC/NPS/Cir/33

Dated: 31.03.2018

To,

The Office Bearers and CEC Members

Bharatiya Pratiraksha Mazdoor Sangh

&

The President/ General Secretary

Unions affiliated to the federation

Subject: One day Agitational Programme on 24.04.2018 on Minimum Guaranteed Pension under National Pension System (NPS).

Dear Brothers and Sisters,

Sadar Namaskar

It is hoped that all of you are well and busy in accelerating trade union activities. As all of you know that the Central Executive Committee Meeting of this federation was held on 26, 27 and 28 March 2018 in Dehu Road, Pune where it was decided to hold one day agitational programme on 24.04.2018 on Minimum Guaranteed Pension under National Pension System (NPS).

A resolution to this effect was also passed in the CEC Meeting held at Hyderabad during September 2015 and subsequently several correspondence were made. However, in spite of lapse of such a large time, no tangible action has been seen from the Govt side on the issue.

Therefore, in absence of any concrete step from the Govt side on the issue it becomes necessary to register our displeasure over the lethargic attitude of the Government and register our protest to constrain the machinery to redress the Grievance.

Hence, you are requested to hold one day agitation programme on 24.04.2018 using all feasible and effective trade union instruments like Gate Meeting, Use of Black Badges, Slogan Shouting, publicizing of programme at humongous level through posters/ hoardings/ banners/ pamphlets/ social media so that the issue may be resolved at the earliest. Further, you are requested to submit a memorandum addressed to Prime Minister of India through proper channel on 24.04.2018.

With regards,

Brotherly yours

(M P SINGH)

General Secretary

Source: BPMS

Partial Withdrawal under NPS

NPS subscribers can withdraw after three years

“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”

Partial Withdrawal under 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.

Exemption From National Pension System (NPS) – NFIR

Exemption from National Pension System (NPS) – NFIR

Exemption of Railway employees appointed on or after 1.1.2004 from the purview of National Pension System (NPS)

Government of India(BHARAT SARKAR)

Ministry of Railways (RAIL MANTRALAYA)

(RAILWAY BOARD)

No.2012/F(E)III/1(1)/4-Pt.

New Delhi, dated 13/02/2018

The General Secretary,
NFIR,
3, Chelmsford Road,
New Delhi – 110055

Dear Sir,

Sub : Exemption of Railway employees appointed on or after 01.01.2004 from the purview of National Pension System (NPS) – regarding

The undersigned is directed to refer to NFIRs letter No. IV/NPS/PFRDA BILL/Part- I dated 13.02.2017, 26.10.2017 and 11.12.2017 on the above subject. 

2. In this regard it is informed that on the request of NFIR, Hon’ble former Minister of Railways, Sh.Suresh Prabhu had written a D.O letter dated 11.04.2017 to the Hon’ble Minister of Finance and Corporate Affairs, Sh.Arun Jaitley, to have a second look on the issue of exemption of Railway employees from the application of National Pension System (NPS). In reply, Hon’ble Minister of Finance and Corporate Affairs Sh. Arun Jaitley has communicated that the matter was reconsidered in consultation with pension Fund Regulatory and Development Authority (PFRDA) and that the request for exemption railway servants appointed on or after 01.01.2004 from the application of NPS does not seem to be feasible proposition.

Yours faithfully,

sd/-

for Secretary/Railway Board

Source: NFIR

NC JCM Staff Side - New Pension Scheme Committee Report Finalised And Submitted To Government

NPS Committee Report Finalised and Submitted to Govt – NC JCM Staff Side

“New Contributory Pension Scheme setting up of the Committee – report”

Shiva Gopal Mishra
Secretary

Ph: 23382286

National Council (Staff Side)

Joint Consultation, Machinery

For Central Government Employees

13-C, Ferozshah Road, New Delhi – 110001

E.Mail : nc.jcm.np@gmail.com.

No. NC-JCM-2017/Fin

January 16,2018

The Cabinet Secretary,
Government of India,
Cabiner Secretariate,
Rastrapati Bhawan,
New Delhi

Sub: New Contributory Pension Scheme setting up of the Committee – report reg.

Dear Sir,

As per the 7th CPC recommendations, Govt had set up a committee under the Chairmanship of the Secretary, to look into the various complaints received by the commission on the new contributory Pension Scheme. As the stake holders, we had interacted with the Committee. We have now come to know that the committee, having finalised its report, submitted the same to you.

We request that the Staff Side–JCM may be provided with a copy of the report and our views are heard and presented, before the Government takes a final view on the matter.

Thanking you,

sd/-

Yours faithfully,

Shiva Gopal Mishra

Source: Confederation

Scrap NPS - Stop Outsourcing

NATIONAL CONVENTION OF CENTRAL AND STATE GOVERNMENT EMPLOYEES – 10.06.2016 – DELHI

Decided to intensify joint struggle against NPS and outsourcing by organizing nationwide intensive campaign and mobilization leading to a bigger trade Union action including strike demanding “withdraw contributory Pension System and stop outsourcing of Government functions”.

About 1000 delegates, mostly NPS employees, participated in the National Convention held at MPCU shah Auditorium, Delhi on 10.06.2017. The National Convention was presided over by Com. K. K. N. Kutty, National President, Confederation of Central Government Employees & Workers and Com. Subhash Lamba Senior leader of All India State Government Employees Federation.

Com. Tapan Sen, MP, Rajya Sabha and General Secretary, CITU, who inaugurated the National Convention called upon the Central and State Government employees to launch sustained struggle for compelling the Government to withdraw NPS and stop outsourcing of Government functions. He explained in detail the impact of the neo-liberal policy offensives unleashed by the BJP-led NDA Government on the common people and working class of our country and also divisive politics of the ruling class to weaken the unity of the working class.

Com. A Sreekumar, General Secretary, AISGEF, presented the draft declaration for adoption in the convention.

Com. M. Krishnan, Secretary General, Confederation of Central Government Employees & Workers addressed the house supporting the declaration. Com. M. S. Raja, Com. R. N. Parashar (Confederation) Com. Ashok Thool, Com. Ved Prakash Sharma, Com. Gade Srinivasalu Naidu (AISGEF) also addressed the Convention. The house adopted the declaration and the proposed programme of action unanimously. Com. Mangul Kumar Das (AISGEF) Welcomed the leaders and delegates and Com. Vrigu Bhattacharjee (Confederation) proposed vote of thanks.

Extracts from the declaration adopted by the National Convention on 10.06.2017

“Defined Contributory Pension Scheme does not guarantee returns. Benefits depends upon as to how the investment has fared in the stock market. The stock markets have never remained strong over a long period of time. It is not only volatile but susceptible to manipulation and machinations. The global financial crisis in 2008 has been the product of investment derivative manipulations. It wiped out the earnings of lakhs of workers, employees, teachers and many others. No Government came to render help to those unfortunate losers, whereas bail-out packages of millions of dollars was roled out to rescue culprits. On one “fine” morning, the workers lost everything including hope.”

“Large number of employees have joined the Central Services since 2004 and so is the case with the various state Governments, who have adopted the Defined Contributory Pension Scheme in replacement of Defined Benefit Pension Scheme. It is estimated that they presently constitute almost one-third of the total employees in Government departments in the country. The deeper study of the functioning of the Contributory Pension Scheme has proved that the promised better returns in the form of Annuity is nothing but an ever eluding mirage.”

“It is satisfying to note that the employees due to the consistent efforts undertaken by the Confederation and State Government Employees Federation have begun to observe the dimension of the problem and the support and solidarity provided by the democratically elected Government to the corporate houses. It is also equally gratifying that the young comrades have also begun to realize that this has to be resisted and defeated.”

“The Government employees has to emphatically demand that the Defined Contributory Pension Scheme imposed in replacement of the Defined Benefit Pension Scheme must be scrapped to end the untenable discrimination of the Pre-2004 and post 2004 entrants to Government service and reintroduce the Defined Benefit Pension Scheme that was in vogue for a century and more. In other words the Government must come forward to amend PFRD Act to exclude the Central and State Government employees from its ambit and operation.”

“This National Convention being held under the auspices of the Joint platform of Confederation of Central Government Employees Workers and All India State Government Employees Federation calls upon all the Central and State Government employees to rally behind the charter of issues and demands included in the declaration adopted by the Convention, hold sustained and continuous programme of action and organize strike action to compel the Government to repeal the Defined Contributory Pension Scheme and halt all sorts of contractorisation, casualization and outsourcing of Government functions.”

“This convention also appeals, especially to the younger generation employees to realize that their hard earned savings are being channelized into the hands of the monopoly capital to subserve their efforts in maximization of profit. This convention also appeals to them to understand the politics behind the policies and the pernicious impact of the neo-liberal economic policies on the life and livelihood of the multitude of their countrymen and be part and parcel of the global and national resistance being built against the globalization policies for the intensification of which pension reform process and informalisation of employment was ushered in by the World bank and IMF.”

PROGRAMME OF ACTION

1. State level Joint Conventions before 31.08.2017 and formation of state level Joint Action Committees.

2. District/ Taluk level conventions before 31.10.2017.

3. Mass Dharna of Central and State Government Employees at all important centres on 21st November 2017 (21.11.2017, Tuesday).

4. Raj Bhawan March (date will be finalized later).

5. Nationwide campaign Jathas covering all districts of all states (dates will be finalized later).

6. Massive Parliament March (date will be finalized later)

Next Phase of action will be declared by the Joint Acton Committee before the Parliament March.

National Level Joint Action Committee

The following are the members of the National Level Joint Action Committee.

CONFEDERATION OF CENTRAL GOVERNMENT EMPLOYEES & WORKERS

1. Com. K. K. N. Kutty 2. Com. M. Krishnan, 3. Com. M. S. Raja

4. Com. R. N. Parashar 5. Com. Rupak Sarkar 6. Com. Vrigu Bhattacharjee

7. Com. R. Seeethalakshmi

ALL INDIA STATE GOVERNMENT EMPLOYEES FEDERATION

1. Com. A. Sreekumar 2. Com. Subhash Lamba 3. Com. Mangul Kumas Das

4. Com. Himanshu Sarkar 5. Com. Vedprakash Sharma 6. Com. Ashok Thool

7. Com. Ashim Kumar Pal

TAKE A LEAD ROLE IN IMPLEMENTING THE PROGRAMMES

To,

1. All Affiliates of Confederation

2. All C-O-Cs

3. All National Secretariat Members

Dear Comrades,

You are requested to give wide publicity to the decision of the National Convention among employees and take a lead role in implementing the programme of action adopted by the Convention (as given above) in consultation and jointly with the All India state Government Employees Federation.

Fraternally yours,

(M. Krishnan)

Secretary General

Confederation

Mob & WhatsAPP – 09447068125

Email: mrksihnan6854@gmail.com

Source: http://confederationhq.blogspot.in/

Confederation - Withdrawal of NPS is not within the purview of NPS Committee

GOVT. MADE IT CLEAR THAT WITHDRAWL OF NPS IS NOT WITHIN THE PURVIEW OF NPS COMMITTEE.

YOUNGER GENERATION EMPLOYEES CHEATED:

Withdrawal of NPS or exemption from NPS was one of the most important demand of the NJCA in the 11th July 2016 deferred indefinite strike. In the statement issued by NJCA on 06-07-2016 after deferring the indefinite strike, it stated as follows:

“The NJCA particularly notes that the Government has set up a separate committee for reviewing the New Pension Scheme, which has been a matter of concern to all employees and workers who are recruited to Government service on or after 01-01-2004”.

It is true that Government has constituted an NPS Committee under the Chairmanship of Secretary (Pension). This created a lot of hope among the younger generation employees as they have been made to believe that the committee will consider the demand of NJCA to scrap the NPS or at least exempt Central Government employees from NPS. But to the dismay of all, in the agenda notified by NPS Committee for discussion with staff side (JCM) on 10- 02-2017, the main issues such as (1) Scrapping of NPS (2) Guaranteed minimum pension to NPS subscribers ie; 50% of the last pay drawn should be guaranteed by Government as minimum pension, even if the returns from the annuity insurance scheme is less than 50% and (3) exemption of Central Government employees from the purview of NPS, are not included as agenda for discussion in the meeting. During the discussion with staff side on 10-02-2017, Additional Secretary (Pension) informed the following:

(1) Withdrawal of NPS is not within the purview of NPS Committee.

(2) There are three sub committees constituted on NPS (i) Committee chaired by Joint Secretary, Department of Financial Services to look into investment, benefit and taxation, (ii) Committee chaired by Joint Secretary (Expenditure), Finance Ministry, with regard to finalising the accounting, implementation procedure and grievance redressal. (iii) Committee chaired by Additional Secretary (Pension) to formulate Rules and Regulations with regard to various benefits from NPS.

Thus it is made clear without any ambiguity that NPS Committee is constituted by the Government for further strengthening NPS and not for scrapping NPS or exempting from NPS as demanded by NJCA. Everybody knows that whether it is pay commission or NPS Committee, it cannot and will not make recommedations on any issue which are not included in the terms of reference of the Commission/Committee, specifically by the Government. Submitting memorandum to the NPS committee demanding scrapping of Page 2 of NPS or exemption from NPS may not serve any purpose, unless Government give clear mandate to the Committee to examine such a demand also. Thus, NDA Government has rejected the demand of NJCA either to scrap NPS or exempt from NPS. This is the real fact and there need not be any confusion in the mind of the employees. In order to compel the Government to accept the demand, there is no short-cut, other than reviving the indefinite strike.

Railway Federations demand also rejected: Railway Federations have demanded exemption of Railway employees from the purview of NPS. Railway Ministers of UPA and NDA Government had forwarded the demand to the Government with their recommendations stating that Railways is second line of defence and as Military Personnel are already exempted from NPS, Railway employees should also be exempted from NPS. Earlier in a letter dated 15th May 2015 addressed to Railway Board, the Ministry of Finance, Department of Financial Services has informed as follows:-

“It may kindly be noted that, earlier a proposal to exempt paramilitary forces (ie. CRPF, BSF etc.) from the ambit of NPS was referred to a Group of Ministers (GoM) and was finally not approved by the Government………… You will agree that moving away from the earlier defined benefit based pension system was a concious decision of the Government taken in view of the unsustainable pension liability of the Central Government……. In view of the above, request of the recognised Federations (AIRF & NFIR) for seeking exemption of the Railway Servants appointed on or after 01-01-2004 from the application of the NPS does not seem to be a feasible proposition.”

From the above reply, it is clear that Government is not going to exempt Railway employees or other Central Government employees from the purview of NPS, unless NJCA revive the indefinite strike and compell the Government to negotiate and settle the demand.

Source: http://confederationhq.blogspot.in/

Click Here To Read Complete Article By M.Krishnan, General Secretary, Confederation