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EXPECTED PAY SCALE OF 7TH PAY COMMISSIONEXPECTED DA JAN 2015 - AICPIN FOR SEPTEMBER 2014

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NFIR PROPOSED PAY STRUCTURE OF 7TH PAY COMMISSION NATIONAL CONVENTION WILL ADOPT A JOINT RESOLUTION ON DA MERGER, INTERIM RELEIF
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Monday, September 08, 2008

New Pension Scheme-effect from 1-1-2004



New Pension Scheme (NPS)(effect from 1-1-2004 )

G.I., M.F., F.No.1(7)(2)/2003/TA/11, Dated: 7-1-2004 read with O.M.No. 1(7)(2)/2003/TA/67-74, Dated: 4-2-2004

1.Salient features of New Pension Scheme
Government of India have introduced a new Defined Contribution Pension Scheme replacing the existing system of Defined Benefit Pension System vide Government of India, Ministry of Finance, Department of Economic Affairs Notification, dated 22-2- 2003. The New Pension Scheme comes into operation with effect from 1-1-2004 and is applicable to all new entrants to Central Government service, except to Armed Forces, joining Government service on or after 1-1-2004.

The salient features of the New Pension scheme are as follows:-

The New Pension Scheme will work on defined contribution basis and will have two tiers-Tiers-I and II. Contribution to Tier-I is mandatory for all Government servants joining Government service on or after 1-1-2004, whereas Tier-ii will be optional and at the discretion of Government servants.

..In Tier-I, Government servants will have to make a contribution of 10% of his basic pay plus DA, which will be deducted from his salary bill every month by the PAO concerned. The Government will make an equal matching contribution.

..Tier-I contributions (and the investment returns) will be kept in a non-withdrawal Pension Tier-I Account. Tier-II contributions will be kept in a separate account that will be withdrawal at the option of the Government servant. Government will not make any contribution to Tier-II account.

..The existing provisions of Defined Benefit Pension and GPF would not be available to new Government servants joining Government service on or after 1-1-2004.

..In order to implement the Scheme, there will be a Central Record Keeping Agency and several Pension Fund Managers to offer three categories of Schemes to Government servants, viz., options A, B and C based on the ratio of investment in fixed income instruments and equities. An independent Pension Fund Regulatory and Development Authority (PFRDA) will regulate and develop the pension market.

..As an interim arrangement, till such time the Statutory PFRDA is set up, an interim PFRDA has been appointed by issuing an executive order by M/o Finance (DEA).

..Till the regular Central Record Keeping Agency and Pension Fund Managers are appointed and the accumulated balances under each individual account are transferred to them, it has been decided that such amounts representing the contributions made by the Government servants and the matching contribution made by the Government will be kept in the Public Account of India. This will be purely a temporary arrangement as announced by the Government.

..It has also been decided that Tier-II will not be made operative during the interim period.

..A Government servant can exit at or after the age of 60 years from the Tier-I of the scheme. At exit, it would be mandatory for him to invest 40 per cent of pension wealth to purchase an annuity (from an IRDA, regulated Life Insurance Company, which will provide for pension for the lifetime of the employee and his dependent parents/spouse. In the case of Government servants who leave the Scheme before

G.I., M.F., F.No.1(7)(2)/2003/TA/11, Dated: 7-1-2004 read with O.M.No. 1(7)(2)/2003/TA/67-74, Dated: 4-2-2004

2.attaining the age of 60, the mandatory annuitisation would be 80% of the pension wealth.The following guidelines are issued for the implementation of the New Pension Scheme during the interim arrangement for the guidance of the PAOs/DDOs: (a) The new pension scheme becomes operational with effect from 1-1-2004. (b) Contributions payable by the Government servants towards the Scheme under Tier-I, i.e., 10% of the (Basic Pay plus DA), will be recovered from the salary bills every month.

(c) The scheme of voluntary contributions under Tier-II will not be made operative during the period of Interim arrangement and therefore no recoveries will be made from the salaries of the employees on this account.

(d) Recoveries towards Tier-I contribution will start from the salary of the month following the month in which the government servant has joined service. Therefore, no recovery will be affected for the month of joining. For example, for employees joining service in the month of January 2004, deductions towards Tier-I contribution will start from the salary bill of February, 2004. No deduction will be made for his salary earned in January 2004. Similarly, deductions for those joining service in the month of February, 2004 will start from the salary bill of March, 2004 and so on.

(e) No deductions will be made towards GPF contribution from the Government servants joining the service on or after 1-1-2004 as the GPF scheme is not applicable to them.

(f) It has been decided that pending formation of a regular Central Record Keeping Agency, Central Pension Accounting Office will function as the Central Record Keeping Agency for the above scheme.

(g) Immediately on joining Government service, the Government service, the Government servant will be required to provide particulars such as his name, designation, scale of pay, date of birth, nominee(s) for the fund, relationship of the nominee, etc., in the prescribed form (Annexure-I). The DDO concerned will be responsible for obtaining this information from all Government servants covered under the new Pension Scheme. Consolidated information for all those who have joined service during the month shall be submitted by the DDO concerned in the prescribed format (Annexure-II) to his pay and Accounts Officer by 7th of the following month. Annexure-I will be retained by DDOs.

(h) On receipt of Annexure-II from the DDOs, PAO will allot a unique 16 digit Permanent Pension Account Number (PPAN). The first four digits of this number will indicate the calendar year of joining Government service, the next digit indicates whether it is a Civil or a Non-Civil Ministry (for all Civil Ministries this digit will be "1"), the next six digits would represent the PAO code (which is used for the purpose of compiling monthly accounts), the last five digits will be the running serial number of the individual Government servant which will be allotted by the PAO concerned. PAO will allot the serial number pertaining to individual Government servant from ‘0001’

G.I., M.F., F.No.1(7)(2)/2003/TA/11, Dated: 7-1-2004 read with O.M.No. 1(7)(2)/2003/TA/67-74, Dated: 4-2-2004

3.running from January to December of a calendar year. The following illustration may be followed: -

The first Government servant joining service under Ministry of Civil Aviation under the accounting control of PAO (Sectt.), New Delhi in 2004, shall be allotted the following PPAN: -Calendar Year Civil Min.PAO Code Serial Number 2 0 0 4 1 0 4 0 8 6 6 0 0 0 0 1

(i) The Pay and Accounts Officer will maintain an Index Register for the purpose of allotment of PPAN to new entrants to Government service. Format of the index register is given in Annexure-VII.

(j) The PAO will return to the DDO concerned, a copy of the statement duly indicating therein the Account numbers allotted to each individual by 10th instant. DDO in turn will intimate the account number to the individuals concerned and also note in the Pay Bill Register.

(k) The particulars of the Government servants received from the various DDOs will be consolidated by the PAO in the format (Annexure-II-A) and sent to the Principal Accounts Office by the 12th of every month.

(l) The Principal Accounts Office in turn will consolidate the particulars in the prescribed format (Annexure-II-B) and forward the same to Central Pension Accounting Office by 15th instant. The CPAO will feed this information in their computer database.

(m) The DDOs/CDDOs will prepare separate Pay Bill Registers in respect of the Government servants joining Government service on or after 1-1-2004. The DDOs/CDDOs will have to prepare separate pay bills in respect of these Government servants and will send the same with all the schedule to the PAO on or before 20th of the month to which the bills relate. Cheque drawing DDOs may note that hereafter in respect of Government servants joining service on or 1-1-2004, they will only prepare pay bills and not make payment. They will send such bills to the Pay and Accounts Offices for precheck and payment.

(n) The DDO/CDDO will prepare a recovery schedule in duplicate in the prescribed form (Annexure-III) for the contributions under Tier-I and attach them with the bay bills. The amount of the Contributions under Tier-I should tally with the total amount of recoveries shown under the corresponding column in the pay bill.

(o) The accounting procedure for these deductions is being finalized and shall be notified shortly.

(p) It may be noted that along with the salary bill for the Government servants who join service on or after 1-1-2004, the DDO/ CDDO shall also prepare a separate bill for drawl of matching contributions to be paid by the Government and creditable to Pension account.

(q) The bill for drawl of matching contribution should also be supported by schedules of recoveries in form (Annexure-IV).

G.I., M.F., F.No.1(7)(2)/2003/TA/11, Dated: 7-1-2004 read with O.M.No. 1(7)(2)/2003/TA/67-74, Dated: 4-2-2004

4.(r) On receipt of the salary bills in respect of Government servants joining service after 1-1-2004, PAO will exercise usual checks and pass the bill and make the payments. After the payment is made and posting done in the Detailed Posting Register, one set of schedules relating to Pension contributions will be detached from the bills as done in the case of other schedules such as GPF, Long-term advances. The schedules will then be utilized for posting the credits of contributions in the Detailed Ledger Account of the individual.

(s) The employee’s contributions under Tier-I and Tier-II and Government’s contribution should be posted in different columns of the individual ledger account (to be maintained in the format in Annexure-V) and Broadsheet and tallied with the accounts figures as being done in the case of GPF.

(t) These accounts should not be mixed with GPF accounts and these records/ledger accounts should be independent of GPF accounts maintained in the case of pre-1-1-2004 entrants.

(u) The PAO will consolidate the information available in the New Scheme schedules received from the various DDOs and forward the same in a floppy in the prescribed form (Annexure-VI) to Principal Accounts Office by 12th of the month following the month to which the credit pertains. Principal Accounts Office in turn will consolidate the information and send the same in electronic form to the Central Pension Accounting Office by 15th.

(v) CPAO on receipt of this information from all the Pr. Aos (including the Non- Civil Ministries) will update its database and generate exception reports for missing credits, mismatches, etc., which will be sent back to the PAOs concerned through the Pr. AOs for further action.

(w) Whenever any Government servant is transferred from one office to another either within the same accounting circle or to another accounting circle, balances will not be transferred by the PAO to the other Accounts Office. However, the Drawing and Disbursing Officer should clearly indicate in the LPC of the individual the unique account number, the month up to which Government servant’s contribution and Government’s contribution have been transferred to the Pension Fund.

(x) No withdrawal of any amount will be allowed during the interim arrangement. Provisions regarding terminal payments in the event of untimely death of an employee or in the event of his leaving the Government service during the interim period shall be notified in due course.

(y) Detailed instructions on the interest payable on Tier-I balances shall be issued in due course.

(z) At the end of each financial year, the CPAO will prepare annual account statements for each employee showing the opening balance, details of monthly deductions and Government’s matching contributions, interest earned, if any, and the closing balance. CPAO will send these statements to the Pr. A.O. for onward transmission to the DDO through the PAO. (aa)After the close of each financial year, CPAO will have to report the de4tails of the balances (PAO-wise) to each Principal Accounts Offices, who will forward the information to each PAO for the purpose of reconciliation.

The G.I., M.F., F.No.1(7)(2)/2003/TA/11, Dated: 7-1-2004 read with O.M.No. 1(7)(2)/2003/TA/67-74, Dated: 4-2-2004

5.PAO will reconcile the figures of contributions posted in the ledger account of the individuals as per their ledger with figures as per the books of CPAO. (bb)After the appointment of CRA and Fund Managers, this office will issue detailed instructions on transfer of balances to CRA.
Architecture of the New Pension System
..It will have a Central Record Keeping and Accounting (CRA) infrastructure, several Pension Fund Managers (PFMs) to offer three categories of schemes, viz., options A, B and C.
..The participating entities (PFMs and CRA) would give out easily understood information about past performance, so that the individual would be able to make informed choices about which scheme to choose.

1 comments:

Anonymous said...

This blog is really useful. Thanking you for providing vlauable information.


Rates of Dearness Allowance & Finmin Orders for DA, DR & 5th CPC

DA & DR ORDERS - EXPECTED DA STATUS
Effective DatesAdditional DA Total DA DA OrdersDR Orders5th CPC
1.1.2006 0-DA/DR
1.7.2006 2%2%29.08.2008DA/DR
1.1.2007 4%6%29.08.2008DA/DR
1.7.2007 3%9%29.08.2008DA/DR
1.1.2008 3%12%29.08.2008DA/DR
1.7.2008 4%16%29.08.2008DA/DR
1.1.2009 6%22%13.03.200927.03.2009DA/DR
1.7.2009 5%27%18.09.200929.09.2009DA/DR
1.1.2010 8%35%26.03.201031.03.2010DA/DR
1.7.2010 10%45%22.09.201029.09.2010DA/DR
1.1.2011 6%51%24.03.201129.03.2011DA/DR
1.7.2011 7%58%03.09.2011 05.10.2011DA/DR
1.1.2012 7%65%03.04.2012 04.04.2012DA/DR
1.7.2012 7%72%28.09.2012 25.10.2012DA/DR
1.1.2013 8%80%25.04.2013 02.05.2013DA/DR
1.7.2013 10%90%25.09.2013 03.10.2013DA/DR
1.1.2014 10%100%27.03.201409.04.2014DA/DR
EXPECTED DA JUL 14 - JANUARY STATUS EXPECTED DA JUL 14 - FEBRUARY STATUSEXPECTED DA JUL 14 - MARCH STATUSEXPECTED DA JUL 14 - APRIL STATUSEXPECTED DA JUL 14 - MAY STATUS

LIST OF CGHS HOSPITALS

1. ALLAHABAD 2. AHEMDABAD 3. Bangalore 4. Bhubhaneshwar 5. Bhopal
6. Chandigarh 7. CHENNAI 8. Delhi 9. Dehradun 10. Guwahati
11. Hyderabad 12. Jaipur 13. Jabalpur 14. Kanpur 15. Kolkata
16. Lucknow 17. Meerut 18. Mumbai 19. Nagpur 20. Patna
21. Pune 22. Ranchi 23. Shillong 24. Trivandrum 25. Jammu.

7th CENTRAL PAY COMMISSION NEWS

TITLEDATEARTICLESORDERS
7TH CPC REPORT AND THE NEED FOR TIMELINESS16.04.20147thCPC Blog
DID YOU KNOW HOW THE 6TH CPC MULTIPLICATION FACTOR OF 1.86 WAS DERIVED..?15.04.201490Paisa
EXPECTED PAY STRUCTURE OF 7TH CPC10.04.201490Paisa
Date of submission of 7th CPC Report05.04.2014-Rajya Sabha
Comments and Suggestions on 7th CPC04.04.201490Paisa
A webpage has been created by the Ministry of Finance for 7th Central Pay Commission24.03.2014-Finmin
Federations veiws on the ToR of 7th CPC05.03.2014AIRF/BPMS/IRTSA
Cabinet approved 7th Central Pay Commission Terms of Reference28.02.201490Paisa
Prime Minister has approved the composition of the 7th Central Pay Commission04.02.201490Paisa
NO COMPROMISE ON TERMS OF REFERENCE07.12.2013NFPE
Possible ToR meeting with Staff Side JCM-Dopt19.11.2013Dopt
7th CPC Date for implementation11.10.20137thcpcnews
Press Statement of Confederation of 7th CPC25.09.2013Confederation
Consent given by PM for 7th CPC25.09.201390Paisa

RETIREMENT AGE 62

J&K Employees Retirement Age hiked to 60, on par with Central Government Staff11.04.201490Paisa
Retirement age of 65: The Politicization of Employees’ Demands11.04.201490Paisa
Retirement age to 62-What is the background behind this news?01.03.201490Paisa
Retirement Age 62 - Cabinet expected to clear on Friday (28.202014)26.02.201490Paisa
Retirement age 62 – No hike in Retirement age of Central Government employees…15.08.2013CGEN.in
Retirement Age 62 - Prime Minister likely to declare on his Independence Day speech14.08.2013CGEN.in
Retirement Age of High Court Judges23.08.201390Paisa
No proposal to enhance the retirement age from 60 to 62 years08.03.201390Paisa
Retirement age of Central Government Employees20.01.201390Paisa
Retirement age of faculty doctors from 65 to 70 years…03.12.201290Paisa
Enhancement of superannuation retirement age of KV teachers31.08.201290Paisa
Retirement age of Teachers and Lecturers26.08.201290Paisa

LDC - UDC ISSUES...

LDC-UDC GRADE PAY ISSUE
SUBJECTDATEDOWNLOAD
UPGRADATION OF GRADE PAY OF LDC & UDC - YET ANOTHER CASE IS FILED.31.03.2014AIAMSHQ
LDC-UDC Issue : Case Filed for Grade Pay 2400 to LDC27.03.2014AIAMSHQ
Upgradation Pay Scale to Railway Accounts Staff w.e.f. 1/1/1 996 on actual basis – NFIR19.03.2014NFIR
Demanding upgradation of the grade pay of LDC & UDC to Rs. 2400 & 2800 – Letter forward to MOSPI26.02.2014AIAMSHQ
LDC-UDC ISSUE-YET ANOTHER LETTER FROM DEPARTMENT OF EXPENDITURE03.02.2014AIAMSHQ
LDC-UDC ISSUE: TOWARDS A FINAL ACTION14.01.2014AIAMSHQ
TOWARDS A FINAL ACTION ON LDC & UDC GRADE PAY ISSUE…31.12.2013AIAMSHQ
LDC-UDC ISSUE: A STEP FORWARD04.12.2013AIAMSHQ
Deputy Secretary JCA writes to Under Secretary CS-II, DoPT13.11.2013AIAMSHQ
CONFEDERATION WRITES TO GOVERNMENT ON LDC- UDC PAY SCALE ANOMALY26.10.2013CONFEDERATION
CASE RETURNED BY THE DOPT & DIRECTED TO TAKE UP THE MATTER DIRECTLY WITH DEPARTMENT OF EXPENDITURE, MOF.07.10.2013AIAMSHQ
LDC-UDC ISSUE-LETTER TO NAC MEMBERS10.09.2013AIAMSHQ
LDC-UDC Issue -Letter sent to the PM forwarded to JCA for action23.08.2013AIAMSHQ
And more news...

NATIONAL ANOMALY COMMITTEE MEETING DETAILS...

NATIONAL ANOMALY COMMITTEE - DECSIONS & DISCUSSIONS AND MINUTES & RESULTS
PROMOTIONAL SCHEMES ACP MACP
DESCRIPTION STAFF SIDE OFFICIAL SIDE
SETTING UP OF NAC 12.01.2009
COMPOSITION OF NAC 05.02.2009
EXTENSION OF NAC 01.07.2010
1st NAC MEETING(12.12.2009) 08.02.2010
2nd NAC MEETING(27.03.2010) AIRF//NFIR 04.05.2010
3rd NAC MEETING(15.02.2011) AIRF/CONF 21.04.2011
4th NAC MEETING(05.01.2012) AIANGO//AIRF 05.01.2012
5th NAC MEETING(17.07.2012) NFIR//NFIR 13.09.2012
MACP MEETING NFIR/ 03.05.2010
2nd MACP MEETING(15.09.2010) CONF/AIRF 06.10.2010
3rd MACP MEETING(15.03.2011) CONF 20.04.2011
4th MACP MEETING(27.07.2012) NFIR/CONF/IRTSA/INDWF/NFIR 13.09.2012
NATIONAL COUNCIL JCM (15.05.2010) NFPE/BPMS 07.07.2010
AGENDA ITEMS AIRF2011/AIRF2012 17.01.2011
INCREMENT ISSUE SETTLED 05.01.2012 19.03.2012
LIST OF PARTICIPANTS NAC/MACP NAC/MACP

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