Minutes of the meeting of the Sub - Committee-III to suggest measures for streamlining implementation of the National Pension System (NPS) held on 10.02.2017

Minutes of the meeting of the Sub - Committee-III to suggest measures for streamlining implementation of the National Pension System (NPS) held on 10.02.2017

Airfindia has published the Minutes of the meeting of the Sub - Committee-III

No. 57/1/2016-P&PW(B)
Government of India
Ministry of Personnel, P.G. and Pensions
Department of Pension & Pensioners' Welfare

3rd Floor, Lok Nayak Bhavan
New Delhi, dated the 16th February, 2017

OFFICE MEMORANDUM

Subject: Minutes of the meeting of the Sub - Committee-III to suggest measures for streamlining implementation of the National Pension System (NPS) held on 10.02.2017 -reg.

The minutes of the meeting of the Sub- Committee-III to suggest measures for streamlining implementation of the National Pension System (NPS) held under the Chairmanship of Additional Secretary (Pension) with Staff side of JCM on 10.02.2017 at Lok Nayak Bhawan, New Delhi is hereby forwarded for information and further necessary action.

(S. Chakrabarti)
Under Secretary to the Government of India

Minutes of the meeting of the Sub-Committee-III to suggest measures for streamlining implementation of the National Pension System with employees

Associations held on 10.02.2017 at Lok Nayak Bhawan, New Delhi

A meeting of the Sub-Committee-III to suggest measures for streamlining the implementation of the National Pension System (NPS) was held under the Chairmanship of Ms. Vandana Sharma, Additional Secretary (Pension) with Staff Side of JCM on 10.02.2017 at 3.00 p.m.,at Lok Nayak Bhawan, New Delhi. The following were present:

Official Side

1. Shri Harjit Singh, Director, Deptt. Of Pension & Pensioners Welfare.

2. Shri Sanjiv Kumar, Deputy Secretary, Department of Personnel & Training,

3. Shri Vivek Ashish, Under Secretary, Department of Expenditure,JCM (Staff Side)

4. Shri Shiva Gopal Mishra, Secretary, Staff Side (JCM),

5. Shri M.S. Raja, Member, National Council (JCM), All India Audit & Accounts Association

6. Shri C. Srikumar, General Secretary/HIDEF, Member National Council, JCM

7. Shri Guinan Singh, President, NFIR

8. Shri M. Raghavaiah, Leader(JCM Staff Side) & General Secretary, NFIR

9. Shri K.K. N. Kutty, President, Confederation of CG employees & Workers.

2. Additional Secretary (Pension) welcomed all the participants and briefed the Staff Side of JCM about the various issues allocated to the Sub-Committee-III. She invited suggestions from the participants on these issues.

3. The Staff Side handed over a communication dated 10.2.2017 containing their views on the various issues allocated to the Sub Committees. The Staff Side agreed that there is an urgent need to frame rules on the service matters of the NPS employees. Additional Secretary (Pension) assured the staff side that their views would be duly considered while framing rules in this regard.

4. Staff Side of the JCM emphasized that the Government employees should be excluded from the purview of NPS. In case, it was not possible to exempt the Government employees from the NPS, a minimum pension @ 50% of the last pay drawn or average emoluments of the last 10 months, whichever is more beneficial to the employees (along with dearness relief) may be ensured to all NPS employees on their retirement.

5. The Staff side was informed that in the event of invalidation / disability or death of the NPS employee, Pension / Family Pension as per the rates applicable under CCS (Pension) Rules is available to the NPS employees / their families. As regards the minimum guaranteed pension on retirement of the NPS employees, the views of the Staff Side of JCM would be conveyed to the Committee set up for streamlining implementation of the National Pension System.

6. The meeting ended with a vote of thanks to the chair.

Dispensing with the requirement of submission of physical application form in case of NPS account being opened on Aadhaar verification followed by e-Signature

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
B-14/A, Chhatrapati Shivaji Bhawan Qutab Institutional Area,
Katwaria Sarai, New Delhi-110016
Phone : 011-26517503
Fax: 011-26517507
Website : www.pfrda.org.in

Dispensing with the requirement of submission of physical application form in case of NPS account being opened on Aadhaar verification followed by e-Signature

CIRCULAR

PFRDA/2016/25/PD/1

15 December 2016

To,
All Stakeholders in the National Pension System

Subject: Dispensing with the requirement of submission of physical application form in case of NPS account being opened on Aadhaar verification followed by e-Signature

1. PFRDA vide circular no. PFRDA/2013/18/PDEX/11 dated 24th October 2013 has allowed acceptance of e-KYC as a valid process for KYC verification in addition to the other allowed valid documents of Identity and address for KYC verification.

2. The Electronic Signature or Electronic Authentication Technique and Procedure Rules, 2015 has been notified on 27th January 2015. As per the rule the Electronic Signatures facilitated through eSign -Online Electronic Signature Service is legally valid provided the eSign signature framework is operated under the provisions of Second Schedule of the Information Technology Act and Guidelines issued by the Controller of Certifying Authorities. E-authentication technique using Aadhhar e-KYC services is legally valid authentication.

3. It has now been decided by PFRDA that in case the POPs integrate the eSign-online electronic signature service, within their applications for online account opening for NPS, the requirement of sending the physical application form to the Central Record keeping Agency by the subscribers/Points-of Presence shall be dispensed with.

4. The Points-of-Presence shall be allowed to charge a maximum of Rs.5/- plus service tax and cess thereon per application for the e-Signature service being provided to the subscribers.

5. In case of account opened through eKYC, the Points of presence will send the soft copy of the application form (along with the supporting documents, if any) to the Central Record keeping Agency.

6. The Points-of-Presence shall adhere to the requirement of submission of KYC details of the subscribers to CERSAI.

7. With the application of the eSign facility, a large number of the subscribers having Aadhaar number will be able to open NPS account without any physical document requirement.
This is being issued in the interest of the subscribers under National Pension System.

Yours faithfully,
(Akhilesk Kumar)
Deputy General Manager

Download PFRDA Circular PFRDA/2016/25/PD/1 dated 15.12.2016