• Skip to main content
  • Skip to primary sidebar
  • Home
  • Aicpin
  • Recent Post
  • Pay Matrix
    • Defence Personnel
      • MNS Officers
  • Recent Govt Orders
    • Dopt orders
    • Finmin orders
  • DA From July 2021
  • Holiday list 2020
Govtempdiary

Govtempdiary

Govtempdiary is leading Central government employees news provider

You are here: Home / CGE LATEST NEWS / PFRDA: Choice of Pension Funds & Investment Pattern in Tier I of NPS(SG, SABs, CABs)

Online Registration for Admission to Class I in Kendriya Vidyalayas kvsonlineadmission.kvs.gov.in

This image has an empty alt attribute; its file name is b_new.gif 7th CPC Calculator July 2021
This image has an empty alt attribute; its file name is b_new.gif Grant of Paid holiday to employees on the day of poll 2021
This image has an empty alt attribute; its file name is b_new.gif AICPIN for the month of february 2021
This image has an empty alt attribute; its file name is b_new.gif LTC cash voucher scheme Calculator
This image has an empty alt attribute; its file name is b_new.gif Expected DA from July 2021 Calculator
This image has an empty alt attribute; its file name is b_new.gif KV school admission 2021-22

Quick links
Hot newsDopt orders
Recent govt ordersRecent post

PFRDA: Choice of Pension Funds & Investment Pattern in Tier I of NPS(SG, SABs, CABs)

June 5, 2020 GEDWEBZIP

PFRDA: Choice of Pension Funds & Investment Pattern in Tier I of NPS(SG, SABs, CABs)

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

CIRCULAR

PFRDA/17/08/11/0031/2017-SUP-SG

01st June 2020

Subject: Choice of Pension Funds and Investment Pattern in Tier I of NPS for the Government subscribers employed with State Governments (SG), State Autonomous Bodies (SABs) & Central Autonomous Bodies (CABs)

A. This has reference to the Gazette Notification F. No.1/3/2016-PR. dated 31-01-2019 issued by Dept. of Financial Service (DFS), Ministry of Finance (MoF), pursuant to which the Authority vide its circular no PFRDA/2019/12/REG-PF/1 dated 08th May 2019, introduced the choice of the pension fund and investment pattern in the Tier I of the NPS for the employees of the Central Government.

B. The following were introduced by Central Government through the DFS Gazette Notification ( Annexure 1) mentioned supra

I. Enhancement in Government Co- Contribution- The monthly contribution of 10 percent of the Basic Pay plus Dearness Allowance (DA) to be paid by the employee and 14 percent of the Basic Pay plus DA by the Central Government.

II.Compensation For Non-Deposit Or Delayed Deposit Of Contributions in the following cases:

1. where the NPS contributions were deducted from the salary of the Government employee but the amount was not remitted to CRA system or was remitted late;
2. where the NPS contributions were not deducted from the salary of the Government employee;
3. where the Government contributions were not remitted to CRA system or were remitted late (irrespective whether the employee contributions were deducted or not),
(Details may be seen from Annexure 1)

III. Choice of Pension Fund And Investment Pattern In Tier-I Of NPS as under:

1. Choice of Pension Fund: The Government subscriber shall be allowed to choose any one of the pension funds including Private sector pension funds. They can change their option once in ‘a year. However, the current provision of combination of Public Sector Pension Funds will be available as default option for existing as well as new Government subscriber.
2. Choice of Investment Pattern: The following options for investment choices shall be offered to Government subscribers

i) Default Scheme: The existing scheme in which funds are allocated among three Public Sector undertaking fund managers shall continue as default scheme for both existing and new subscribers.
ii) Scheme G: Employees who prefer returns with comparatively less amount of risk shall be given an option to invest 100% of the funds in Govt. securities. (Scheme G)
(iii) Auto Choice Life Cycle Funds: Employees preferring better returns with comparatively higher risk shall be given the options of the following Life Cycle based schemes
a) Conservative Life Cycle Fund with maximum exposure to equity capped at 25%- LC-25 Scheme.
b) Moderate Life Cycle Fund with maximum exposure to equity capped a 50 LC- 50 Scheme
The Government subscribers may exercise one of the above choices of Investment pattern twice in a financial year.

IV. Implementation of choices to the legacy corpus: Transfer of huge legacy corpus in respect of the Government subscribers from the existing Pension Funds is likely to impact the market. it may be practically difficult for the PFRDA to allow Government subscribers to change the Pension Funds or investment pattern in respect of the accumulated corpus, in one go. Therefore, for the present, change in the Pension Funds or investment pattern is allowed in respect of the incremental flows only.

V. Transfer of Legacy corpus in reasonable time frame: PFRDA shall draw up a scheme in due course for transfer of accumulated corpus as per new choices of Government subscribers in a reasonable time frame of say five years. Once PFRDA draws up this scheme, change in Pension Funds or investment pattern shall be allowed in respect of the accumulated corpus in accordance with that scheme.

VI. For investment option of Default scheme as per para B.III 2 (i) above, all other terms and conditions as contained in the investment guidelines issued by the Authority dated 03.06.2015 for NPS Schemes (Applicable to Scheme CG, Scheme SG, Corporate CG and NPS Lite Schemes and APY) and subsequent amendments made thereto shall be applicable.

VII. Further, for investment options as per para Bill 2 (ii) or Bill 2.(iii) (a) and (b) above, all other terms and conditions as contained in the investment guidelines issued by the Authority dated 04.05.2017 in respect of NPS Schemes {Other than Govt. Sector (CG & SG), Corporate CG, NPS Lite and APY} and subsequent amendments made thereto shall apply.

C. It has been brought to the notice of the Authority that while some of the State Governments (SGs) / SABs/ CABs have either partially or wholly adopted the provisions of Gazette Notification F. No.1 /3/2016-PR. dated 31-01-2019 issued by Dept. of Financial Service (DES), Ministry of Finance (MoE), the others have been seeking clarifications on the same. It is, therefore, clarified that the State Governments ( SGs) / SABs/ CABs are free to adopt the provisions of the said Gazette notifications on their own volition, based on their own internal approvals and notifications , without seeking the Authority’s approval.

D. This circular is issued in exercise of powers of the Authority under sub-clause (b) of sub-section (2) of Section 14 read with Section 23 of the PFRDA Act, 2013 and sub regulation (1) of Regulation 14 of the PFRDA (Pension Fund) Regulations, 2015.


Sum Kaur Kapoor
Chief General Manager

Signed Copy

Related posts:

  1. PFRDA – Transfer of Legacy Funds of NPS Subscribers of Government Sectors (SGs/ CABs/ SABs) pursuant to opening of choice of Investment schemes and Pension Funds
  2. Choice of CRA Selection by NPS subscribers : PFRDA
  3. Partial modification & Clarification of Choice for POPs to integrate with CRAs for NPS – PFRDA
  4. PFRDA: Enabling NPS Subscribers to continue PRAN in case of premature exit
  5. D Remit- Empowers NPS Subscribers with another Convenient mode of depositing Voluntary NPS Contributions – PFRDA
  6. Choice for NPS Subscribers to have physical or ePRAN card – PCDA
  7. Revision in cut off time under D Remit for same day NAV – PFRDA
  8. Change in Guidelines on aggregate holding of equity shares – PFRDA
  9. National Pension Scheme Tier II- Tax Saver Scheme, 2020 under section 80C
  10. PFRDA: NPS On-boarding through Online PRAN Generation Module (OPGM) & Freezing norms
  11. RFQ platform for Corporate Bond transactions – PFRDA
  12. OTP based authentication for legacy NPS Accounts – PFRDA
  13. Extension of timelines for activities under NPS & NPS Lite – PFRDA
  14. Extension of timelines for activities under NPS – PFRDA
  15. PFRDA – Regulations for Exits & withdrawals under NPS(2020)
  16. National Pension Scheme Tier II-Tax Saver Scheme, 2020 (NPS-TTS) – RBE No. 82/2020
  17. PFRDA : OTP based authentication for paperless NPS on-boarding
  18. PFRDA : NPS On-boarding through Online PRAN Generation Module (OPGM)

Filed Under: CGE LATEST NEWS, PFRDA CIRCULAR, PFRDA NEWS, Recent govt orders June 5, 2020 Leave a Comment

Grant Notional Increment to applicant retired on 30th June, CAT denies DoPT’s interpretation that judgement in personam because pay fixation is governed by uniform policy of the Government

April 13, 2021 By selva Leave a Comment

Grant Notional Increment to applicant retired on 30th June, CAT denies DoPT’s interpretation that judgement in personam because pay fixation is governed by uniform policy of the Government Reserved CENTRAL ADMINISTRATIVE TRIBUNAL, ALLAHABAD BENCH, ALLAHABAD (This the 26th Day of February, 2021) Hon’ble Mrs. Justice Vijay Lakshmi, Member (Judicial) Original Application No.330/001 46/2020 1. Pravesh […]

CGHS : Extension of empanelment of AYUSH Hospitals/Centers under CGHS and CS (MA) Rules till 15th January, 2022

April 12, 2021 By selva Leave a Comment

CGHS : Extension of empanelment of AYUSH Hospitals/Centers under CGHS and CS (MA) Rules till 15th January, 2022 File No.25-2/2018/CGHS/JDAYUSH Government of India Ministry of Health & Family Welfare Directorate General of Central Government Health Scheme *** Nirman Bhawan, New Delhi OFFICE MEMORANDUM Subject:- Extension of empanelment of AYUSH Hospitals/Centers under CGHS and CS (MA) […]

Pension Scheme on Railways and Retirement Benefits on absorption in Public Sector Undertakings/Autonomous Bodies.

April 11, 2021 By selva Leave a Comment

Railways : Pension Scheme on Railways and Retirement Benefits on absorption in Public Sector Undertakings/Autonomous Bodies. GOVERNMENT OF INDIA (BHARAT SARKAR)MINISTRY 0 RAILWAYS (RAIL MANTRALAYA)(RAILWAY BOARD)M.C. No. 53(2021) RBE No. rg 2021 No. D-43/14/2019-F(E)III New Delhi, dated:ft+ .03.2021. The General Managers,All Indian Railways, Production Units, Metro Railway, Calcutta and others. Sub: Pension Scheme on Railways […]

Regarding revision of pension of employees who were compulsory retired and those dismissed/removed but given compassionate allowance

April 11, 2021 By selva Leave a Comment

Regarding revision of pension of employees who were compulsory retired and those dismissed/removed but given compassionate allowance Office of the Pr. Chief Commissioner of Income Tax,Andhra Pradesh & Telangana, Hyderabad,10th Floor, Income Tax Towers,AC Guards, Hyderabad — 500 004.Tel No. 040 — 23425474, Fax 040-23241427 F.No.Pr.CCIT/Misc/Estt/2020-21 Date: 08/04/2021 ToAll the AO/DDOs ofPr.CCIT, AP & Telengana […]

Declaration of Holiday on 14th April, 2021 – Birthday of Dr. B.R. Ambedkar

April 1, 2021 By selva Leave a Comment

Declaration of Holiday on 14th April, 2021 – Birthday of Dr. B.R. Ambedkar F. No. 12/4/2020-JCA Government of India Ministry of Personnel, Public Grievances & Pensions (Department of Personnel & Training) Establishment (JCA) Section North Block, New Delhi Dated the March, 2021 OFFICE MEMORANDUM Subject: Declaration of Holiday on 14th April, 2021 – Birthday of […]

Finmin Order : Clarification regarding full and final settlement of bills/claims pertaining to LTC Special Cash Package Scheme

April 1, 2021 By selva Leave a Comment

Finmin Order : Clarification regarding full and final settlement of bills/claims pertaining to LTC Special Cash Package Scheme No. 12(2)/2020-E.Il(A) Government of India Ministry of Finance Department of Expenditure North Block, New Delhi Dated 31st March, 2021 OFFICE MEMORANDUM Subject: Clarification regarding full and final settlement of bills/claims pertaining to LTC Special Cash Package Scheme. […]

Revision of interest rates for Small Savings Schemes – Regarding

April 1, 2021 By selva Leave a Comment

Revision of interest rates for Small Savings Schemes – Regarding F.No.1/4/2019-NS Government of IndiaMinistry of FinanceDepartment of Economic Affairs(Budget Division) North Block, New Delhi Dated: 31.03.2021 OFFICE MEMORANDUM Subject: Revision of interest rates for Small Savings Schemes – reg. In exercise of the powers conferred by Rule 9(1) of the Government Savings Promotion General Rules, […]

DoP&PW Notification No. G.S.R.227(E) dated 30.03.2021 – Regulating the methods of implementation of National Pension System

April 1, 2021 By selva Leave a Comment

DoP&PW Notification No. G.S.R.227(E) dated 30.03.2021 – Regulating the methods of implementation of National Pension System MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES AND PENSIONS(Department of Pension and Pensioners’ Welfare) NOTIFICATION New Delhi, the 30th March, 2021 G.S.R. 227(E). – In exercise of the powers conferred by the proviso to article 309 and clause (5) of article […]

NPS to OPS Coverage under CCS Pension Rules : Selection for appointment were finalized before 01.01.2004 but joined Government service on or after 01.01.2004

April 1, 2021 By selva Leave a Comment

NPS to OPS Coverage under CCS Pension Rules : Selection for appointment were finalized before 01.01.2004 but joined Government service on or after 01.01.2004 No. 57/04/2019-P&PW(B) Government of IndiaDepartment of Pension and PW Lok Nayak Bhawan,Khan Market, New Delhi,the 31st March, 2021 OFFICE MEMORANDUM Subject: Coverage under Central Civil Services (Pension) Rules, 1972 of those […]

More Posts from this Category

Grant of Paid holiday to employees on the day of poll 2021

General Elections to legislative Assemblies of Assam, Kerala, Tamil Nadu, West Bengal, Puducherry, 2021 and Bye- election in 6-Malappuram PC of Kerala and 39-Kanniyakumari PC of Tamil Nadu – Grant of Paid holiday to employees on the day of poll- regarding F. No. 12/3/2016-JCA-2Government of IndiaMinistry of Personnel, Public Grievances and Pensions(Department of Personnel & […]

List of Holidays during the year 2021 for central government offices in Tripura

Regarding list of public and restricted holidays during the year 2021 for central government offices located in Tripura

Recent comments

  • Mohit on 7th Pay Commission Salary Calculator – June vs July 2021
  • Suraj on Posting/transfer of defence civilian employees on compassionate grounds or on mutual basis
  • RAJ KUMAR on Posting/transfer of defence civilian employees on compassionate grounds or on mutual basis
  • Anonymous on DOP : Opportunity for revision of option to come over to revised pay structure, Clarification sought on DoE OM dated 12.12.2018 — regarding
  • Dinesh Munjal on Guidelines for Central government Staff check over Increment(1st July) Drawn every years
  • Dinesh Munjal on Guidelines for Central government Staff check over Increment(1st July) Drawn every years
  • Dinesh Munjal on Guidelines for Central government Staff check over Increment(1st July) Drawn every years
  • D..K.Jha on 7th Pay Commission Pay Matrix table
  • D..K.Jha on 7th Pay Commission Pay Matrix table
  • Mv Gupta on LTC Leave Enhancement Calculator For Block Year 2018-2021

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar

Search

calcuators

  • Expected DA from July 2021- Calculator
  • HRA calculator 2021 (DA>25%)
  • Tax benefit calculator 2020
  • Expected DA For Bank Employees From November 2020
  • 7th pay commission calculator [updated]
  • Promotion/MACP Option form Calculator
  • 7th Pay Commission Pension Calculator
  • Bonus Calculator 2020
  • LTC Leave Enhancement Calculator For Block Year 2018-2021
  • LTC cash voucher scheme Ready reckoner

Pay Matrix table

  • Defence Personnel
  • MNS Officers
  • Tamil nadu
  • Rajasthan
  • Odisha
  • Gujarat
  • Haryana
  • Jharkhand
  • Madhya Pradesh
  • Nagaland
  • Tripura
  • Uttrakhand
  • Assam
  • Bihar

CSD Price list

  • CSD Car Price List 2021
  • Maruti Suzuki CSD Car Price List 2021

KVS Schools list

  • List of Kendriya Vidyalaya Schools
Copyright© 2010–2021

Central Government Employees News - Govtempdiary