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Superannuation Benefits Schemes for employees of CPSEs - clarification regarding Technical Formality

Superannuation Benefits Schemes for employees of CPSEs - clarification regarding Technical Formality

No.W-02/0017/2014-DPE(WC)-GL-IV/17
Government of India
Ministry of Heavey Industries & Public Enterprises
Department of Public Enterprises

Public Enterprises Bhawan
Block No.1, CGO Complex, Lodhi Road,
New Delhi, the 1st February, 2017

OFFICE MEMORANDUM

Subject: Superannuation Benefits Schemes for employees of CPSEs - Clarification regarding Technical Formality

The undersinged is directed to refer to this Department's OM of even number dated 21.05.2014 regarding clarification of Pension and superannuation Medical Benefits Scheme in CPSEs.

2. Praa xvi) of the said OM specifies that in cases where a Central Public Sector Enerprises (CPSE) employees has applied for a post in the same or other CPSE through proper channel and on selection to the said post, is required to resign the previous post for administrative reasons. Resignation submitted for other reasons or if competent authority has not allowed him to forward his application thrugh proper channel is a resignation and benefit of past service will not be admissible.

4. The above clarification is only for the purposes of Superannuation Benefits Schemes implemented in CPSEs in light of DPEs OM dated 26.11.2008 and 21.05.2014 and subsequent DPE guidelines on Superannuation Benefits Schemes.

5. All the administrative Ministires/Departments are requested to bring the above to the notice of the CPSEs under their administrative control.

sd/-
(Samsul Haque)
Under Secretary

Authority: http://dpe.gov.in/

NPS Subscribers are allowed multiple Choice to Change Investment Option

NPS Subscribers are allowed multiple Choice to Change Investment Option

Allowing multiple choice to the subscribers/corporates to change Investment Option and Asset Allocation Ratio during the Financial Year

PENSION FUND REGULATORY
AND DEVELOPMENT AUTHORITY
g-14/A. Chhatrapati Shivaji Bhawan
Qutab Institutional Area.
Katwaria sarai. New Delhi-110016

CIRCULAR
PFRDA/2017/8/PD/2
01 March 2017
To
All Stakeholders in the National Pension System

Subiect: Allowing multiple choice to the subscribers/corporates to change Investment Option and Asset Allocation Ratio during the Financial Year

1. As per the extant guidelines, subscriber can change his/her existing Pension Fund the investment option(Active or Auto choice) as well as asset allocation ratio (allocation among asset class-Equity/Corporate Bonds/Government securities/ Alternative investment ) once in a financial year. This scheme preference is applicable to the existing pension corpus as well as to the prospective subscriptions. Similarly in the NPS-Corporate Model where the choice of Pension Fund and Investment Options is exercised at Corporate level. the Corporates also have the option to change the pension fund and investment option and also asset allocation ratio once in a financial year,

2.In order to provide more choices in terms of investment option and asset allocation, the following has been decided:

(i) The subscribers/corporates will have the choice for change of the investment option (Active or Auto choice) as well as asset allocation ratio (allocation among asset class-Equity/Corporate Bonds/Government Securities/ Alternative Investment) two times in a financial year.

This scheme preference will be applicable to the existing pension corpus as well as to the prospective subscriptions, The option will be available separately for Tier I and Tier accounts,

(ii) The choice Of change Of pension Fund shall remain once in a financial year.

4. The changes will come into effect from 01st April 2017.

Yours faithfully
(AkhleSh Kumar)
Deputy General Manager


Cut-Off age to Borad level appointment in Central Public Sector Enterprises (CPSEs)

Cut-Off age to Borad level appointment in Central Public Sector Enterprises (CPSEs)

F.No.18(2)/2017-MGMT
Government of India
Ministry of Heavy Industrial and Public Enterprises
Department of Public Enterprises

Public Enterprises Bhavan,
Block No.14, CGO Complex,
Lodi Road, New Delhi-110003
Dated the 23rd February, 2017

OFFICE MEMORANUDM

Subject: Cut-Off age to Borad level appointment in Central Public Sector Enterprises (CPSEs)

The undersigned is directed to refer to this Department O.M. No.18(6)/98-CG-GL-72 dated 20th October 2005 (copy enclosed) on the subject mentioned above and to state that the residual service would henceforth be reckoned by Public Enterprises Selection Board with reference to the 'Date of Superannuation of candidates' instead of 'Superannuation age' for the purpose of calculating cut-off age for considereation to Board level posts in CPSEs.

2. All administrative Ministries/Departmetns are requested to take note of the above decision for guidance and necessary action.

sd/-
(B.N.Mishra)
Director

Authority: http://dpe.gov.in/

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