By implementing these changes, DoPPW seeks to make the system more accessible, helping senior pensioners navigate their benefits with greater ease and efficiency.
The new guidelines, issued by the Department of Pension and Pensioners’ Welfare, Ministry of Personnel, Public Grievances & Pensions are aimed at making the complaint filing process more sensitive, accessible and effective.
Under the NPS Vatsalya scheme, parents can open a pension account for their children and make a minimum annual contribution of Rs 10,000 per annum. After the child is 18 years of age, the account automatically gets converted into a normal NPS account, which the holder can continue.
NPS Vatsalya Scheme: Through the NPS Vatsalya Yojana, parents can invest on behalf of their children until they reach the age of 18. The primary goal of the scheme is to build a financial corpus for the children over the long term, supporting their future needs and goals.
NPS Vatsalya Scheme Overview: Finance Minister Nirmala Sitharaman has introduced the NPS Vatsalya scheme, allowing parents to open pension accounts for their minor children. Aimed at securing long-term financial stability, the scheme converts to a regular NPS account when the child turns 18.
Maharashtra news: The employee unions had expressed their reservations as they wanted the state government to reconsider its decision and give options to the employees. They had pressed for the implementation of the revised pension scheme announced in the state legislature.
Union Minister of State for Personnel, Public Grievances and Pensions Jitendra Singh is slated to launch this new form and its integration with Bhavishya/e-HRMS on August 30.
The central government on August 24 approved the Unified Pension Scheme (UPS) which provides for Assured Pension and Assured Family Pension. As per the govt, about 23 lakh employees of the central government would benefit from the Unified Pension Scheme (UPS).
The Congress' media and publicity department head Pawan Khera alleged that the UPS appears to be an attack on Dalits, tribals and backward classes.
National Pension System (NPS) has been implemented for all government employees except those in the armed forces joining the central government on or after January 1, 2004. The new pension scheme guarantees an assured minimum pension of Rs 10,000 per month on superannuation.
Kharge's swipe came a day after the Union Cabinet approved an assured pension of 50 per cent of salary for those who joined the service after January 1, 2004, under the National Pension System (NPS).
Unified Pension Scheme: The central government on August 24 approved the Unified Pension Scheme (UPS) which provides for Assured Pension and Assured Family Pension. As per the govt, about 23 lakh employees of the central government would benefit from the Unified Pension Scheme (UPS).
Unified Pension Scheme: Assured Minimum Pension will be Rs 10,000 per month on superannuation after a minimum of 10 years of service.
Union Finance Ministry set up a committee under Finance Secretary TV Somanathan to review the pension system for government employees.
Shiv Gopal Mishra, convener of JFROPS, a joint forum for Restoration of Old Pension Scheme, has said that they don't have any other option left to push for their demand as the government remained non-committal to their demand of restoring OPS.
There is a disparity in employers' contributions to building the corpus for employees currently, with contributions up to 10 per cent of basic salary and dearness allowances being exempt from tax for NPS contributions.
Jharkhand Chief Minister Hemant Soren also stated that his government would reserve 75 per cent of the jobs for locals in companies that set up offices in the state.
Government employees who joined the central government services before December 22, 2003, have been given a one-time option to join the old pension scheme, according to a recent order from the Personnel Ministry.
Thousands of government employees protested near Haryana Chief Minister Manohar Lal Khattar's residence in Panchkula on Sunday demanding the restoration of the Old Pension Scheme in the state.
The observations in the RBI's Report titled 'State Finances: A Study of Budgets of 2022-23' comes in the backdrop of Congress-ruled Himachal Pradesh becoming the latest state to announce reverting to the Dearness Allowance (DA) linked Old Pension Scheme (OPS).
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