Master Circular on partial withdrawal under NPS

PART I – Introduction 

1. The Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) Regulations, 2015, as amended, allow subscribers to make partial withdrawals from their accumulated pension wealth in the National Pension System (NPS) for specific purposes. To ensure compliance with the regulations, the Authority hereby provides a master circular for facilitating such partial withdrawals. 

Relaxation in affidavit of legal heirs for pension in case of in-service death

Relaxation regarding submission of affidavit containing the consent of all legal heirs / nominees of the deceased employee for availing the benefits of family pension upon in-service death of the State Government employee covered under NPS. 

18016 Dt.27.06.2024

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REMINDER : Exercising option for family pension under NPS

GOVERNMENT OF ODISHA

FINANCE DEPARTMENT

No.  FIN-NPS-SCHEME-0001-2019 / 21877 Dt.03.08.2023

OFFICE MEMORANDUM

Sub : Submission of option for availing the benefits of family pension upon in-service death in respect of State Government employees covered under National Pension System (NPS).

State Government has extended the benefits of family pension to all the eligible State Government employees cOvered under NPS, upon their in-service death vide Finance Department Notification No. 28746/F, dated 11.10.2021.The detailed procedure to exercise the option for availing the benefits of family pension upon in service death in respect of State Government employees covered under NPS has been laid down vide Finance Department Office Memorandum No.12587/F, dated 19.05.2022.

2. As per the aforementioned Office Memorandum, the following timeline has been prescribed for submission of option form by the eligible Government employee:

• Existing State Government employees covered under NPS shall exercise such option within one year from the date of issue of FD OM No. 12587,dated 10.05.2022 i.e., by 10.05.2023.
• In case where an employee who has not exercised the option and dies in service within 3 years from the date of issue of FD Notification No.28746/F, dated 11.10.2021 i.e., before 11.10.2024.

3. It has come to the notice of the Government that, some empioyees in service could not submit their option within the stipulated timeline i.e., by 10.05.2023.

4. After careful consideration, State Government has been pleased to extend the timeline for one more year i.e., up to 10.05.2024 for the serving government employees to exercise their option for availing the benefits of family pension under NPS.

By orders of the Governor

Principal Secretary to Government

F.D. O.M. 21877 Dt.03.08.2023 (PDF)

F.D. O.M. 12587 Dt.19.05.2022 (PDF)

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PRAN Account under National Pension System (NPS)

HISTORY : In 1999, the Government of India commissioned a national project, OASIS (an acronym for “old age social and income security”), to examine policies related to old age income security in India. Based on the recommendations of the OASIS report, the Government of India introduced a new Defined Contribution Pension System for the new entrants to Central / State Government service, except the Defence forces i.e. Army, Navy and Air Force, replacing the existing system of the Defined Benefit Pension System. This new system is called the National Pension System (NPS). 

The NPS is a voluntary defined contribution pension system administered and regulated by the Pension Fund Regulatory and Development Authority (PFRDA),  

The National Pension System, as we see it today, was notified by the Government of India on 22.12.2003 and given effect to from 01.01.2004. 

Government of Odisha have migrated to the “Restructured Defined Contribution Pension System” (NPS) for the new entrants to the State Government service w.e.f. 01.01.2005 vide Finance Department Notification No.44451 dated 17.09.2005

REGISTRATION OF SUBSCRIBERS:

1) Online facility has been provided in IFMS for submission of application by the newly joined employees to be enrolled under NPS. In this regard, the user Id/ login Id will be created in IFMS by the DDO.

# The mandatory pre-requisite is allotment of HRMS Id in respect of the employee.

2) The regular Government employees working under pensionable establishment and covered under NPS shall submit their application for joining NPS and allotment of PRAN in “Common Subscriber Registration Form” online along with the supporting documents prescribed to the concerned DDO of the Establishment after their joining and drawal of their salary for the 1st month. The supporting documents shall be self-attested by the subscriber.

3) Facility has also been provided in IFMS for processing of online applications (CSRFs) at the level of DDO, Treasury & NPS Cell of DTI.

4) The DDO shall verify “Common Subscriber Registration Form” along with the supporting documents and submit to respective District/ Special Treasury with due authorization in prescribed forwarding letter (Annexure-S5). 

5) The District/ Special Treasury shall authorize the application and forward the same to DTI for onward transmission to CRA for allotment of PRAN.

6) After generation of “Permanent Retirement Account Number” (PRAN), that will be intimated to employee by SMS alert & mail. Employee can also verify the same in IFMS.

7) The application for registration of the employee under NPS shall be submitted to concerned Treasury by the DDO of the establishment prior to drawal of 1st month’s salary of the employee and DDO of the establishment shall submit a certificate in this regard at the time of submission of 1st month’s salary bill of the employee at Treasury.

(Vide F.D. O.M. No: 32720/F, dtd. 24.09.2019)

Shifting of PRAN from other sector to Government of Odisha: The regular Government employees shall use their previously generated PRAN by CRA to continue in their present job due to portable nature of the PRAN. In this regard, just after joining in pensionable establishment of Government of Odisha, the employee shall apply for inter sector shifting of that PRAN by submitting the application as prescribed by CRA (Form ISS-1) to his/her DDO who shall verify, authorize and submit to concerned District or Special Treasury for necessary shifting of the PRAN from previous sector to Government of Odisha. 

CLICK HERE TO VIEW/DOWNLOAD IMPORTANT CIRCULARS ON NPS

CLICK HERE TO VIEW / DOWNLOAD HANDBOOK FOR OSS OFFICERS TO READ DETAILS ON OTHER RULES FOR A GOVERNMENT EMPLOYEE. 

Option for Family Pension under NPS : Timeline extended till 19.05.2024

State Government has extended the timeline to exercise option for availing the benefits of family pension upon in-service death in respect of State Government employees covered under National Pension System (NPS) vide F.D. Notification No.28746/F Dt.11.10.2021.

Detail procedure to exercise the option has been laid down in F.D. Office Memorandum No.12587/F., Dt.19.05.2022.

The last date for submission of option was 10.05.2023. 

Now Government has extended this date for one year i.e. upto 10.05.2024.

FD O.M. No.21877 Dt.03.08.2023
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Corrigendum No.23885 Dt.23.08.2023

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Pension Mahasammilan @Talcher

FRONT AGAINST NPS IN RAILWAY (FANPSR) 
NATIONAL MOVEMENT FOR OPS (NMOPS) 
Protest against NPS & Privatisation and 

Demand to restore OPS
PENSION MAHASAMMILAN
ପେନସନ ମହା ସମ୍ମିଳନୀ
---14.05.2023 ---

Organized by : TALCHER BRANCH, AILRSA
Deulbera Colliery Institute (Near Green Grass Stadium), Talcher, Angul, Odisha
Demands : 1.Scrap NPS & Restore OPS 2. Stop Privatization of Railway

National Conference of NMOPS : Viljay Malla & Projyotna Baral represent Odisha

 

Vijay Malla, President and Prajyotna Baral, General Secretary of NMOPS represent Odisha Branch. 

FAQ on New Pension System (NPS)

(Prepared by NPS Cell, DTI, Bhubaneswar)
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Loksabha Question on NPS and answer on 20.12.2021

Drawal of 10% arrear towards NPS contribution : Clarification

Drawal and remittance of Monthly Government Contribution of 14% towards NPS

Enhancement of Government Contribution (NPS) from 10% to 14%

- ଗତ ୧୧.୧୦.୨୦୨୧ ଦିନ ରାଜ୍ଯ କ୍ୟାବିନେଟ ନିଷ୍ପତ୍ତି ଅନୁସାରେ, ନୂତନ ପେନସନ ଆକାଉଣ୍ଟରେ କର୍ମଚାରୀ ଦରମାର ୧୦% ଜମା ହେଉଥିବା ବେଳେ, ରାଜ୍ୟ ସରକାର କିନ୍ତୁ ପୂର୍ବରୁ ପ୍ରଦାନ କରୁଥିବା ୧୦% ବଦଳରେ ଏବେ ୧୪% ପ୍ରଦାନ କରିବେ। ଏହା ୦୧.୦୪.୨୦୧୯ ରୁ ଲାଗୁ  ହେବ। 

Enhancement of NPS Contribution from 10% to 14%

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(27277 Dt.08.10.2021)

NPS Gratuity Rules, 2021 Notification

Department of Pension and Pensioners’ Welfare has issued Notification dated 23.9.2021 in respect of Rules regarding Payment of Gratuity Rules under National Pension System. The Central Civil Services (Payment of Gratuity under National Pension System) Rules 2021 is provided below

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Increase of entry age upto 70 years under NPS

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

B-14/A Chhatrapati Shivaji Bhawan
Qutab Institutional Area,
Katwaria Sarai, New Delhi-110016

CIRCULAR

Circular no.: PFRDA/2021/36/SUP-CRA/14     August 26, 2021

To,

All Central Record Keeping Agencies (CRAs)
& other NPS stakeholders for information

Subject: Increase of Entry Age up to 70 Years under NPS

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Supreme Court judgment on NPS to Old Pension : Rajyasabha Question

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF FINANCIAL SERVICES

RAJYA SABHA
UNSTARRED QUESTION NO. 248

TO BE ANSWERED ON 2017 JULY, 2021 (TUESDAY)/ ASHADHA 29, 1943 (SAKA)

Judgement of Supreme Court and Reversal from NPS to Old Pensions Scheme

PFRDA (Exit and Withdrawals Under the National Pension system) Amendment Regulations 2021

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
NOTIFICATION
New Delhi, the 14th June, 2021

No. PFRDA/12/RGL/139/8.—In exercise of the powers conferred by sub-section (1) of Section 52 read with sub-clause (g), (h), and (i) of sub-section 2 of Section 52 of the Pension Fund Regulatory and Development Authority Act, 2013 (Act No.23 of 2013), the Pension Fund Regulatory and Development Authority hereby makes the following regulations to amend the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) Regulations, 2015 namely, –

1. These regulations may be called the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Amendment) Regulations, 2021.

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Choice of pension fund and investment pattern in NPS

In partial modification of para 2(i) of Finance Department Notification No. 44451/F Dt. 17.09.2005, the following provisions shall be inserted after 12th line of para 2(i) of the said notification. 

(i) (A) Choice of Pension Fund and Investment Pattern in Tier-I of NPS as under:

I. Choice of Pension Fund

II.Choice of Investment Pattern

Relaxation in processing of exit application by PoPs

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

B-14/A, Chhatrapati Shivaji Bhawan,
Qutub Institutional Area,
Katwaria Sarai, New Delhi-110016

CIRCULAR

CIR No.: PFRDA/2021/17/SUP-ASP/4

Date: May 31, 2021

Central Civil Services (Implementation of National Pension System) Rules, 2021

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