Central Government Employees NATIONAL PENSION SYSTEM – NPS
National Pension System (NPS) is a pension cum investment scheme launched by the Government of India to provide old age security to Citizens of India. It brings an attractive long term saving avenue to effectively plan your retirement through the safe and regulated market-based return. The Scheme is regulated by Pension Fund Regulatory and Development Authority (PFRDA). National Pension System Trust (NPST) established by PFRDA is the registered owner of all assets under NPS.
In accordance with DoP&PW O.M. No. 38/41/06- P&PW(A) dated 5.5.2009 such employees who joined after 31/12/2003 and/or their families may be given the benefit of disability pension or family pension provisionally till the finalization of rules under the National Pension System (NPS) on death/ injury.
As per the Department of Pension & PW O.M. No.38/41/06 – P&PW(A) dated 5.5.2009 (available on website) the benefits under the CCS (Pension) Rules has been provisionally extended to the families of deceased employees covered under NPS. Family Pension/ gratuity in terms of O.M. dated 5.5.2009 shall be payable to the family of the deceased employee if the deceased employee was covered under NPS and fulfils the conditions. These payments are provisional and will be adjusted as per the final provisions. As per Para 7 of the O.M., the accumulations in pension wealth of deceased employee under NPS will not be paid during the period provisional benefits under the afore mentioned O.M. are payable. The Head of Office will prepare the pension papers as per provisions of the relevant rules and proceed as per the procedure for making the provisional payments to eligible Government servants’ families explained in Ministry of Finance O.M. No.1(7)/DCPS(NPS)/2009/ TA/221 dated 2.7.2009 read with corrigendum dated 29.9.2009.
As per the Department of pension & PW O.M. No. 38/41/06- P&PW(A) dated 5.5.2009 (available on website) the benefits under the CCS(Pension ) Rules has been provisionally extended to the families of deceased employees covered under NPS.
Family Pension/gratuity in terms of O.M. dated 5.5.2009 shall be payable to the family of the deceased employee if the deceased employee was covered under NPS and fulfils the conditions. These payments are provisional and will be adjusted as per the final provisions. As per Para 7 of the O.M. the accumulations in pension wealth of deceased employee under NPS will not be paid during the period provisional benefits under the aforementioned O.M. are payable. The Head of Office will prepare the pension papers as per provisions of the relevant rules and proceed as per the procedure for making the provisional payment to eligible Government servants’ families explained in Ministry of Finance O.M. No. 1(7)/DCPS(NPS)/ 2009/TA/221 dated 2.7.2009 read with corrigendum dated 29.9.2009.