NPS - State government conference about benefits of National Pension System by PFRDA

NPS

NPS - State government conference about benefits of National Pension System by PFRDA

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

PRESS RELEASE

Conference on Implementation of National Pension System by State Governments

A conference on implementation of National Pension System by State Governments was organized by PFRDA on 10th Sept 2018 at IHC, New Delhi. The prime objective was to provide a forum to all State Governments, where the progress in the implementation of NPS with respect to compliance of timelines in various NPS related activities could be brought to the fore and a way forward could be provided. Higher officials from all State Governments attended the conference.

Also check: National Pension System (NPS) : PFRDA

Dr. Badri Singh Bhandari, Whole Time Member (Economics) in his opening address informed the state government officials about the features and benefits of NPS and various initiatives undertaken by PFRDA. He emphasised the use of online generation of PRAN, dashboard facility for effective monitoring of nodal officers and timely submission of subscriber registration forms and regular remittance of subscriber contribution. He reiterated about the issuance of guidelines by State Governments regarding procedure and timelines to be followed by State Governments for registration of new employees, upload of SCFs and remittance of the NPS contributions. He also touched upon the need of resolving pending grievances and withdrawals on priority by the nodal officers.
Sh. Ajay Narayan Jha, Secretary, Dept of Expenditure, Govt. of India in his address stated that the need of contributory system of pension arose due to the twin objectives to ensure fiscal prudence and secure old age income security in the country. Fiscally strong States are important for progress and development as the pension liabilities of the government has been increasing in terms of proportion of GDP. He advised participating State Governments to monitor the performance of NPS implementation with respect to timely completion of NPS related activities at nodal office level.

Read more on NPS - National Pension Scheme - CENTRAL GOVERNMENT EMPLOYEES

Chairman, PFRDA, Sh. Hemant G. Contractor, emphasized on the need for the government officials to be aware of the determinants of pension. NPS, being a contributory and market driven scheme, is different from the earlier pension system in the government, which was a formula based PAYG (Pay As You Go) scheme. In NPS, pension is dependent on various factors, such as the contribution amount, period of contribution, regularity in remittances, returns on investment, withdrawals, deferment options and choice of annuity. He urged the State governments to adopt online PRAN generation Module (OPGM) and to ensure effective implementation and monitoring of NPS. He also urged State Governments to ensure extending choices similar to those available to non-government subscribers and also to frame Rules for the guidance of government staff handling NPS in the States.
Quite a few presentations were made by various stakeholders under NPS for the benefit of the participants. As on 31st August, 2018, 28 States have implemented NPS and there are 32.51 Lakh subscribers with asset under management of Rs 1,16,227.49 Cr.

Booking of expenditure towards Interest on delayed / non- deposit of National Pension System (NPS) Contributions

NPS

Booking of expenditure towards Interest on delayed / non- deposit of National Pension System (NPS) Contributions

GOVERNMENT OF INDIA
MINISTRY OF RAILWAYS
(RAILWAY BOARD)

RBA No. 78 /2019

No. 2019//\C-l l / 21/6

New Delhi, dated 05.09.2019

1. General Managers/ FA & CAOs etc (As per standard List 1)
2. All attached offices/ Subordinates offices (As per standard List II)

Sub: Booking of expenditure towards Interest on delayed/non- deposit of National Pension System (NPS) Contributions.

Advanced Correction Slip No. 144 modifying/ introducing the existing/new detailed head under Sub Major Head 11 (erstwhile D.No. 13/Abstract 0) for booking of Revenue expenditure towards Interest on delayed /non-deposit of NPS Contributions and introduction of new Primary Unit for booking Interest on delayed/non-deposit of NPS contribution in both Revenue and Capital Expenditure i n Indian Railway finance Code Vol. I I (Second Reprint 2008) is enclosed for necessary
Contents of the correction slip may please be circulated suitably. Kindly acknowledge receipt.
DA: As above.

(Sanjeev Sharma)
Director Finance/ Accounts
Railway Board

Advance Correction Slip No. 144
Indian Railway Finance Code Vol. II (Reprint Edition 2008)

I. Please modify /introduce the detailed head under Sub Major Head 11 (erstwhile Demand No. 13/Abstract O) as under:

Minor Head
100 Govt. Contribution for Defined Contribution Pension Scheme

Sub Head
110 Govt Contribution for Defined Contribution Pension Scheme and Interest

Detailed Head
111 Government Contribution for Defined Contribution Pension Scheme.112 Interest on delayed/non-deposit of NPS Contribution

II. Please introduce the following new Primary Unit for booking interest on delayed/ Non-deposit of N PS contributions under Revenue classification.

54 Interest on delayed/non-deposit of NPS contribution
III. Please introduce the following new Primary Unit for booking interest on delayed/ Non-deposit of NPS contributions under Capital classification.

54 Interest on delayed/non-deposit of NPS contribution

Note:

i. Expenditure on interest on delayed/non-deposit of NPS contributions in case of Capital portion (Construction and Production Units) establishment shall be booked to Primary Unit 54 - Interest on delayed/ non-deposit of NPS contributions under expenditure head to which Government Contribution to Defined Pension Scheme is being charged .

ii. Expenditure on interest on delayed/non-deposit of NPS contributions under Major Head 3001 (erstwhile Demand No. 1& 2) will be booked under Primary Unit 54 - Interest on delayed/ non-deposit of NPS contributions.

(Authority : Board's Letter No. 2019/ AC-11/ 21/6 dated 05.09.2019)

Source: Railway Board

NPS - Withdrawal of resignation of Central Government servants appointed after 31.12.2003 covered under the National Pension System

NPS - DoPT Orders 2019

Withdrawal of resignation of Central Government servants appointed after 31.12.2003 covered under the National Pension System (NPS)

No. 28035/2/2014-Estt. (A)

Government of India

Ministry of Personnel, Public Grievances and Pensions

Department of Personnel & Training

North Block, New Delhi-11 0001

Dated: 10th June 2019

Office Memorandum

Subject: Withdrawal of resignation of Central Government servants appointed after 31.12.2003 covered under the National Pension System (NPS) reg.

The undersigned is directed to say that instructions on the procedure to be followed for 'Resignation from service' have been provided vide Ministry of Home Affairs O.M. No.39/6/57-Ests.(A) dated 06.05.1958, Department of Personnel & Training (DoPT) O.M. No.28034/25/87-Estt(A) dated 11 .02.1988, No.28034/4/94 - Estt.(A) dated 31 .05.1994 and No.28035/2/2007-Estt.(A) dated 04.12.2007. Para 5 of DoPT O.M. dated 11 .02.1988 referred to above, provides the procedure for withdrawal of resignation as governed by Rule 26 (4) to (6) of Central Civil Services (Pension) Rules, 1972. References are being received from Ministries/Departments on the request for withdrawal of resignation by Government servants appointed after 31 .12.2003 and for whom CCS (Pension) Rules are not applicable. The matter of withdrawal of resignation of Government servants of Central Civil Services/Posts, appointed after 31 .12.2003 who are covered under the National Pension System (NPS) and for whom CCS (Pension) Rules, 1972 is not applicable has been considered in this Department and with the approval of the competent authority, it has been decided that the following guidelines/ instructions may be followed while considering the request for withdrawal of resignation of the aforesaid Government servants.

The appointing authority may permit a person to withdraw his resignation in the public interest on the following conditions, namely:

(a) that the resignation was tendered by the Government Servant for some compelling reasons which did not involve any reflection on his integrity, efficiency, or conduct and the request for withdrawal of the resignation has been made as a result of a material change in the circumstances which originally compelled him to tender the resignation ;

(b) that during the period intervening between the date on which the resignation became effective and the date from which the request for withdrawal was made, the conduct of the person concerned was in no way improper;

(c) that the period of absence from duty between the date on which the resignation became effective and the date on which the person is allowed to resume duty as a result of permission to withdraw the resignation is not more than ninety days;

(d) that the post, which was vacated by the Government servant on the acceptance of his resignation or any other comparable post, is available.

3. Request for withdrawal of a resignation shall not be accepted by the appointing authority where a Government servant resigns his service or post with a view to taking up an appointment in or under a private commercial company or in or under a corporation or company wholly or substantially owned or controlled by the Government or in or under a body controlled or financed by the Government.

4. When an order is passed by the appointing authority allowing a person to withdraw his resignation and to resume duty, the order shall be deemed to include the condonation of interruption in service for the purpose.

5. No withdrawal from NPS corpus shall be permissible within a period of 90 days from the date on which the resignation becomes effective i.e. the resignation is accepted by the competent authority and the Government servant is relieved of his duties. However, the aforesaid condition shall not be applicable in case of death of the government servant after the resignation becomes effective.

6. The provision for withdrawal of resignation shall not be applicable for temporary Government Servants.

7. Above guidelines/instructions will be applicable only for the Government servants appointed on Central Civil Service/ Posts after 31.12.2003 who are covered under the National Pension System (NPS) and for whom CCS(Pension) Rules, 1972 is not applicable. Further, these guidelines/ instructions will be applicable till the time the statutory rules regarding withdrawal of resignation for such Government servants are notified.

8. This O.M. shall be prospective and cases already settled shall not be opened.

9. This issues in consultation with the Office of Comptroller and Auditor General of India.

10. It is requested to bring it to the notice of all concerned for strict compliance.

(Kabindra Joshi)

DirectorSource: DoPT

Source: DoPT

Amendment to the investment Guidelines (Applicable to Scheme CG, Scheme SG, Corporate CG and NPS Lite schemes of NPS and Atal Pension Yojana)

PFRDA: Amendment to the investment Guidelines (Applicable to Scheme CG, Scheme SG, Corporate CG and NPS Lite schemes of NPS and Atal Pension Yojana)

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

Ph: 011-26517501, 26517503, 26133730
Fax: 011-26517507
Website: www.pfrda.org.in

CIRCULAR

PFRDA/2019/8/SUP-PF/2

Date: 25.03.2019

Subject: Amendment to the investment Guidelines (Applicable to Scheme CG, Scheme SG, Corporate CG and NPS Lite schemes of NPS and Atal Pension Yojana)

Reference is invited to the Investment Guidelines for NPS Schemes (Scheme CG, Scheme SG, Corporate CG and NPS Lite schemes of NPS and Atal Pension Yojana) dated 3rd June 2015 issued vide circular no. PERDA/2015/16/PFM/7, the Change in Investment guidelines for NPS schemes W.r.t. Investment in equity Mutual funds vide circular no. PERDA/2018/56/PF/2 dated 20th August 2018 and Revised rating criteria for investments under NPS Schemes vide circular No. PERDA/2018/02/PF/02 dated 08.05.2018. The changes hereunder shall apply only to Scheme CG, Scheme SG, Corporate CG and NPS Lite schemes of NPS and Atal Pension Yojana.

2. In order to provide flexibility to the Pension Funds to improve the scheme performance depending upon the market conditions, it has been decided to increase the cap on Government Securities & related investments and Short term debt instruments & related investments by 5% each.

3. The asset class wise revised caps on the various asset classes are as under:

Asset Class	Caps on Investments for composite schemes
Government Securities & related investments	Upto 55%
Debt Instruments & related investments	Upto 45%
Equity & related investments	Upto 15%
Asset backed, trust structured etc.	Upto 5%
Short term debt instruments & related investments	Upto 10%

4.The other terms and conditions as mentioned in the circular PERDA/2015/16/PFM/7 dated 03.06.2015, circular no. PERDA/2018/56/PF/2 dated 20th August 2018 and circular No. PFRDA/2018/02/PF/02 dated 08.05.2018 shall remain the same.

This circular is issued in exercise of powers of the Authority under sub-clause (b) of the sub- section (2) of section 14 of Pension Fund Regulatory and Development Authority Act, 2013 read with regulation 14 and 43 of PFRDA (Pension Fund) Regulation, 2015.

This would be effective from 01.04.2019.

Venkateswarlu Peri
(Chief General Manager)

NPS to OPS: Abolition of National Pension System and for restoration of Old Pension Scheme

NPS to OPS: Abolition of National Pension System and for restoration of Old Pension Scheme

Annexure-I

F.No-20/07/2017-PR

18.03.2019

To
Shri C. Srikumar, General Secretary,
All India Defence Employees' Federation,
S.M. Joshi BhavanI, Survey No. 81 ,
Dr. Babasaheb Ambedkar Road,
Khadki, Pune - 411 003.

Subject: Representation received for abolition of National Pension System and for restoration of Old Pension Scheme - reg.

Sir,
Kindly refer, to your representation dated 03.11.2018 on the subject cited above.

In this connection, it is started that the introduction of National Pension System (NPS) was a policy decision of the Government of India in view of the Increasing pension liability on the economy.
Your concerns In this regard have been noted. It Is informed that based on the feedback received from time to time from the subscribers covered under NPS and other stakeholders, the Government of India, based on the Committee of Secretaries recommendations, has recently approved the following proposals for streamlining NPS for Central Government employees.

• Enhancement of the Government's contribution from the existing 10% to 14% of the employee's pay + DA While keeping the employee's contribution at the existing 10%
• Providing freedom of choice for selection of Pension Funds and pattern of investment to subscribers
• Payment of compensation for non-deposit or delayed deposit of NPS contributions during 2004-2012
• Providing tax deduction to the contribution made under Tier-II of NPS under Section 80 C for deduction up to Rs. 1.50 Iakh provided that there is a lock in period of 3 years
• Increase In the tax exemption limit for lump sum withdrawal on exit from the existing 40% to 60% making the entire withdrawal exempt from Income tax.

It Is further assured that keeping in view the concerns of NPS subscribers, the Government will continue to do its best to ensure that the Interests of the subscribers are protected to the best extent.

Yours faithfully,
(Abhay Garg)
Under Secretary to the Government of India

Government will soon start the selection process for the new PFRDA chairman

Government will soon start the selection process for the new PFRDA chairman

"The Finance Ministry will soon come out with an advertisement to find a successor to head the Pension Fund Regulatory and Development Authority (PFRDA),"

Contractor's term will be completed on April 30, 2019.

PFRDA was re-constituted into a statutory body after notification of PFRDA Act in 2014.

Contactor is the first Chairman to head the regulatory body. He had joined PFRDA on October 7, 2014.

As per the Act, the chairman will have a tenure of 5 years or till age of 65 years, whichever is earlier.
Contractor was previously held the post of SBI managing director before being appointed as the PFRDA Chairman.

The pension fund regulator has reached a subscriber base of 2.65 crore in its flagship National Pension System (NPS) and Atal Pension Yojana (APY) schemes and hopes to cover nearly 2.72 crore subscribers by the end of the current financial year.

The APY, mainly targeting the unorganised sector employees, offers five slabs of pension from Rs 1,000 - Rs.5,000 per month upon retirement. Employees in the age bracket of 18-40 years can sign up for an APY account.

NPS is a voluntary defined contribution retirement savings scheme for government employees as well as for those working in the organised and unorganised sectors.

PTI

NPS: Authorisation of withdrawals under National Pension System

NPS: Authorisation of withdrawals under National Pension System

Authorisation of withdrawals under National Pension System (NPS) - Online Partial/ Premature/ Superannuation/ Exit/ Death Withdrawal Requests: Railway Board

GOVERNMENT OF INDIA
MINISTRY OF RAILWAYS
(RAILWAY BOARD)

RBA No. 5/2019

No. 2017/AC-II/21/2

New Delhi, dated 15.01.2019

PFAs
All Zonal Railways and PUs

Sub: Authorisation of withdrawals under National Pension System (NPS)

At present, the Personnel Deptt are exercising function of initiation as well as authorisation (approval) of withdrawal requests of staff of Personnel Deptt. It has been decided that as per maker/checker concept, the Personnel Deptt shall perform the function of initiator and Proposer' and Accounts Deptt. of 'Recommender and Authoriser' for processing the withdrawal requests.

 The functionality to initiate aforementioned withdrawal requests has been enabled by NSDL for all PAOs. Accordingly, the withdrawal requests will be initiated by Subscribers/DDOs/Personnel Dept and further authorisation will be done by Accounts Dept login under CRA application. NSDL has also forwarded the SoP pertaining to the following withdrawals:

• SOP_Online Partial Withdrawal Request
• SOP_Online Premature Exit Withdrawal
• SOP_Online Superannuation Withdrawal
• SOP_Online Death Withdrawal Request

The above are available on Indian Railway website - www.indianrailways.gov.in under the following location Railway Board Directorates => Accounts => Instructions on New Pension System (NPS). Kindly ensure compliance and arrange to disseminate the procedural guidelines with all concerned.

 DA: As above

(Sanjeev Sharma)
Director Finance/Accounts
Railway Board

Source: Indianrailways

Ministry of Finance

Streamlining of National Pension System (NPS)

Posted On: 10 DEC 2018 3:01PM by PIB Delhi

Decision
The Union Cabinet in its Meeting on 6th December, 2018 has approved the following proposal for streamlining the National Pension System (NPS).

• Enhancement of the mandatory contribution by the Central Government for its employees covered under NPS Tier-I from the existing 10% to 14%.
• Providing freedom of choice for selection of Pension Funds and pattern of investment to central government employees.
• Payment of compensation for non-deposit or delayed deposit of NPS contributions during 2004-2012.
• Tax exemption limit for lump sum withdrawal on exit has been enhanced to 60%. With this, the entire withdrawal will now be exempt from income tax. (At present, 40% of the total accumulated corpus utilized for purchase of annuity is already tax exempted. Out of 60% of the accumulated corpus withdrawn by the NPS subscriber at the time of retirement, 40% is tax exempt and balance 20% is taxable.)
• Contribution by the Government employees under Tier-II of NPS will now be covered under Section 80 C for deduction up to Rs. 1.50 lakh for the purpose of income tax at par with the other schemes such as General Provident Fund, Contributory Provident Fund, Employees Provident Fund and Public Provident Fund provided that there is a lock-in period of 3 years.

Background
The new entrants to the central government service on or after 01.01.2004 are covered under the National Pension System (NPS). The Seventh Pay Commission (7th CPC), during its deliberations, examined certain concerns regarding NPS and made recommendations in the year 2015. The 7th CPC recommended for setting up of a Committee of Secretaries in this regard. Accordingly, a Committee of Secretaries was constituted by the Government to suggest measures for streamlining the implementation of NPS in the year 2016. The Committee submitted its report in the year 2018. Accordingly, based on the recommendations of the Committee, draft Cabinet Note was placed before the Cabinet for its approval.

Implementation strategy and targets
The proposed changes to NPS would be made applicable immediately once time critical decisions are taken in consultation with the other concerned Ministries / Departments.

Major impact

• Increase in the eventual accumulated corpus of all central government employees covered under NPS.
• Greater pension payouts after retirement without any additional burden on the employee.
• Freedom of choice for selection of Pension Funds and investment pattern to central government employees.
• Benefit to approximately 18 lakh central government employees covered under NPS.
• Augmenting old-age security in a time of rising life expectancy.
• By making NPS more attractive, government will be facilitated in attracting and retaining the best talent.

Expenditure involved
The impact on the exchequer on this account is estimated to be to the tune of around Rs. 2840 crores for the financial year 2019-20, and will be in the nature of a recurring expenditure. The financial implications on account of provisions regarding payment of compensation for non-deposit or delayed deposit of NPS contributions during 2004-2012, would be in addition to the amount indicated above.

No. of beneficiaries
Approximately 18 lakh central government employees covered under NPS would be benefitted from the streamlining of the National Pension System.

States/districts covered
Pan India.

Details and progress of scheme if already running
Presently, the new entrants to the central government service on or after 01.01.2004 are covered under the NPS. NPS is being implemented and regulated by Pension Fund Regulatory and Development Authority in the country.

PIB

Long pending issues of the Central Government Employees

Long pending issues of the Central Government Employees

No.NC/JCM/2017

Dated: September 5, 2017

The Cabinet Secretary,
(Government of India),
Cabinet Secretariat,

Rashtrapati Bhawan,
New Delhi

Dear Sir,
Sub:- Long pending issues of the Central Government Employees
Ref.: My earlier letter dated 30.06.2017

I have discussed the issues creating mental agony in the minds of the Central Government Employees many a times and once again want to draw your kind attention for resolution of many long pending demands of the Central Government Employees.

National Pension System (NPS) has been raised by the Staff Side (JCM) many a times, the committee set up by the Government of India for reviewing NPS has also submitted its report, but we are not aware about the outcome of the same. Staff Side(JCM) has been of the firm view that there must be "Guaranteed Pension" for the employees recruited on or after 01.01.2004, and in case of their death/permanent disablement, their families should get Pension as per Old Pension Scheme.

All the Central Government Employees are anxiously waiting for recommendations of the Government of India for increasing Minimum Wage and improving Fitment Formula and inordinate delay in this regard is creating lot of frustration amongst them.

It is, therefore, requested that, you may please intervene in the above-mentioned issues and the same should be resolved in an amicable manner to avoid mental agony of the Central Government Employees.

With Kind Regards!

Sincerely yours

S/d,
(Shiva Gopal Mishra)
Secretary (Staff Side)
National Council (JCM)

Source : NCJCM

National Pension System - New Functionalities to provide benefits of subscribers and nodal offices

National Pension System - New Functionalities to provide benefits of subscribers and nodal offices

Pension Fund Regulatory and Development Authority (PFRDA) takes various initiatives from time to time in order to simplify and improve the operational issues in National Pension System (NPS) like new functionality development under NPS architecture, simplification of account opening, withdrawal, grievance management etc. In this regard, recently many new functionalities have been released by the Central Recordkeeping Agency (CRA) to provide the ease of operation for the benefit of subscribers and nodal offices. These are detailed below:

Functionalities for NPS subscribers:

S.N	Functionalities	Brief Description
1	Online Submission of Foreign Account Tax Compliance Act (FATCA) Declaration	In-order to facilitate quick FATCA compliance, facility to submit online FATCA Self-declaration has been provided to the subscriber in their CRA login (www.cra-nsdl.com). The information regarding the said functionality is also made available on CRA websites. The steps to be followed by the subscriber to submit online FATCA self-declaration are also available on the website.
2	Interoperability between CRAs	Karvy Computershare Pvt. Ltd. (KCRA) was selected as a second CRA under NPS. Now, Subscribers/ Nodal Offices have option to open permanent retirement account with either of the CRAs. The existing Subscriber can also select CRA of his/her choice. To facilitate migration of Subscriber across CRAs (Karvy- CRA to NSDL- CRA and NSDL-CRA to Karvy- CRA), the CRA Interoperability functionality has been developed. The Subscriber will be required to approach target CRA to initiate the shifting request, the target CRA will facilitate the shifting request under NPS. Inter CRA shifting request will be allowed once in a financial year.
3.	New features under eNPS	1. Hindi version of eNPS module The bilingual version of eNPS module has been developed for convenience of NPS Subscriber. The Subscriber shall have option to choose the desired language option (either English or Hindi) for Registration and/or Contribution through eNPS. 2. eSign for Aadhaar based Registration In case of registration through Aadhaar, it was mandatory for Subscriber to submit physical Application Form within 90 days of completion of registration under eNPS. eSign facility (Aadhaar e-KYC services) has been integrated with eNPS platform to enable the Subscriber to sign his/her PRAN Application electronically. This process has eliminated the requirement of submission of physical documents to CRA. 3. New Payment Gateway - Bill Desk In eNPS, along with SBI ePay, Bill Desk has been integrated as the second Payment Gateway Service Provider. This will help the Subscriber to make payment through any service provider as per his/her choice by selecting the available payment options. Addition of Billdesk as new payment gateway has ensured participation of new banks which were not part of SBl e-Payment gateway especially AXIS Bank and HDFC Bank.
4.	New features in NPS Mobile App	1. Tier II Withdrawal Subscriber can now initiate Tier II account withdrawal under NPS using Mobile App. The Subscriber will log into the App with their User ID and password. An option to select Tier II withdrawal and generate One Time Password (OTP) is available in Mobile App. On entering the correct OTP, Subscriber will have an option to select mode of Withdrawal - (i) lump sum (amount), or (ii) scheme wise units. Once the option is selected and relevant details are submitted by the Subscriber, the same will get executed in the CRA system and funds will get transferred to Subscriber's Bank Account registered with CRA. 2. Aadhaar Seeding The Subscriber can now link his/her Aadhaar to NPS account using Mobile App. The Subscriber will log into the App with his/her User ID & password and select the option of ‘Add/Update Aadhaar Number'. The option will be available to the Subscriber to provide his/her Aadhaar. Once Aadhaar is entered, the details of Subscriber registered under NPS will get authenticated with details available in UIDAI database. Post authentication, an OTP will be sent to the Subscriber's mobile number registered with UIDAI. The Subscriber will enter the OTP and on entering the correct OTP, Aadhaar will get seeded for the PRAN. 3. Reset password using OTP Subscriber can now reset his/her password using Mobile App through OTP. The Subscriber is required to enter his/her PRAN, Date of Birth and set his/her new password and generate OTP. On entering the correct OTP received on his/her mobile (registered with CRA), the password becomes active. This option is in addition to the option of resetting password using secret question.
5.	New features under Atal Pension Yojana (APY)	1. ePRAN Card and Transaction Statement The facility to download and/or print ePRAN Card and Transaction Statement is made available to APY Subscriber. The APY Subscriber can access their ePRAN Card and Transaction Statement through CRA NPS Lite website (www.npslite- nsdl.com). The Subscriber have an option to search their ePRAN Card and Transaction Statement with/without PRAN details. The Subscriber are then required to provide minimum details like PRAN and Bank Account Number or Subscriber Name, Bank Account Number and Date or birth registered in the CRA system under APY. 2. Alert for Grievances An Email/SMS alert (along with Token No.) is sent to APY Subscriber on generation and resolution of a grievance in CRA system.

Functionalities for Nodal Offices:

S. N.	Functionalities	Brief Description
1.	Online Subscriber Registration by DDOs	The facility to register Subscriber online using Online PRAN Generation Module (OPGM) is made available to Drawing and Disbursing Office (DDOs) for Government Sector. The DDOs can capture the Subscriber registration details online in the CRA system.  The details entered by DDO needs to be verified by associated PAOs. On verification of registration details in the CRA system, PRAN gets generated online. This facility is an extension to the functionality already available with Pay & Account Offices (PAOs).
2.	Enhancement in Central Grievance Management System (CGMS)	1. Standard Frequently Asked Questions (FAQs) along with answers against respective query category are now available to Subscriber & Entity (raising grievance on behalf of NPS Subscriber) in CGMS. The Subscriber raising any query through CGMS will have a provision to view the FAQs & relevant answers based on the category of grievance selected. 2. The fortnightly email alerts are sent to the Nodal Office for pending grievances. Now, these alerts are enhanced to have the details of all pending grievances. 3. A facility is provided to Nodal Office under NPS Lite and APY to download the pending referrals for associated Subscriber. Also, email alerts will be sent to NPS Lite and APY Offices for all grievances raised & resolved during the day. 4. The fortnightly email alerts will be sent to Oversight Offices under NPS Lite and APY regarding the grievances which are pending for more than 15 days under CGMS.
3.	Error Rectification Module (ERM)	An ERM request can be processed by the Nodal Office through whom the contributions were uploaded in CRA system. In addition, now in case of State Govt., the facility to perform a single ERM transaction on behalf of all the underlying Nodal Offices is provided to the Oversight Office. This will save efforts and time of multiple ERM requests being captured by different Nodal Offices.
4.	Online Corporate Registration	A facility for online registration is enabled for Corporates through eNPS platform. Corporate is required to provide the requisite registration details and select a POP for association and submission of the relevant documents for further processing. The registration details captured by the Corporate are to be authorized by associated POP.
5.	Retirement Adviser:	The Retirement Advisers (RAs) are appointed by PFRDA to engage in the activity of providing advice on NPS thereby to extend the reach of NPS. The RAs can be an individual, registered partnership firm, body corporate, or any registered Trust or society. The online platform has been developed and released in the CRA system to facilitate registration of an individual/entity as RA.
6.	Withdrawal Reports / MIS in Nodal Office login	Additional reports related to Withdrawal have now been made available to Nodal Offices for better monitoring: a) Physical withdrawal forms received but online withdrawal request not processed b) Non Receipt of Physical Forms for online withdrawal processed cases c) Online withdrawal requests pending for authorization
7.	New CRA Toll Free Helpline	Dedicated toll free number (1800222081) is made available to Nodal Offices for contacting CRA regarding their general queries / complaints. This is in addition to an existing toll free number (1800222080) available for NPS Subscribers.

Source : PIB

NRI Investments in NPS

NRI Investments in NPS

The Pension Fund Regulatory and Development Authority (Retirement Adviser) Regulations were notified in the year 2016. The objective of the Regulations is to provide a framework for eligibility of Retirement Advisers, their registration process, fees etc. of Retirement Advisers (RA) and to define the scope of work and responsibility of the Retirement Advisers to ensure orderly growth of pension sector

In order to expand the National Pension System (NPS) to NRIs, PFRDA has decided to amend the PFRDA (Retirement Adviser) Regulations, 2016 in order to facilitate RA to provide onboarding and advisory services to the NRIs.

Non Resident Indians (NRIs) between the ages of 18-60 years are eligible to join NPS on voluntary basis. NRIs have also been provided the online facility to open account under NPS besides the conventional mode of account opening through the Points-of-Presence (PoPs).

As on 30.03.2017, 2611 NRIs have subscribed to NPS, out of which 1401 NRIs have joined NPS during the financial year 2016-17.

This was stated by Shri Santosh Kumar Gangwar, Minister of State in the Ministry of Finance in written reply to a question in Lok Sabha today.

PIB

Meeting of the Committee constituted to suggest measures for streamlining the implementation of the National Pension System (NPS) for Central Government Employees

Meeting of the Committee constituted to suggest measures for streamlining the implementation of the National Pension System (NPS) for Central Government Employees

NFIR
National Federation of Indian Railwaymen
No.IV/NPS/PFRDA BILL/Part-I

Dated :18-03-2017

The General Secretaries
Of Affiliated Unions of NFIR

Brother,

Sub: Meeting of the Committee constituted to suggest measures for streamlining the implementation of the National Pension System (NPS) for Central Government Employees - reg.

A Meeting of the Committee with JCM (Staff Side) under the chairmanship of Secretary (Pension), Department of Pension & Pensioners Welfare was held at sardar patel Bhavan, New Delhi on 17th March 2017 at 15.00hrs. Brief on the discussions is given below:

(i) At the outset, Secretary (Pension) stated that the Committee will try to consider and propose for safeguarding the interests of pensioners appointed on or after 01-01-2004. He said that the purpose of meeting was to elicit views from JCM (Staff Side) and make out report with an attempt to accommodate the views by and large.

(ii) Thereafter, the Additional Secretary (Pension) made a brief presentation highlighting the attempts of the Committee for formulating Rules. Regulations and procedures to be considered by the Government.

(iii) Initiating discussion, the JCM (Staff Side) leaders have reiterated their consistent stand that the Liberalized Pension Scheme needs to be made applicable to those who joined the Government service from 01-01-2004.

2.The JCM (Staff Side) leader Dr.M.Raghavaiah and Standing Committee Member, Shri Guman Singh have participated in the meeting and pointed out as follows:

(a) The Committee should consider for recommending 50% of Last Pay drawn as minimum pension to the retiring NPS subscribers irrespective of their total service.

(b) The Pension Rules of 1972 be incorporated in the proposed draft Rules in an appropriate manner, thereby pension is guaranteed to the families of retired/deceased employees and their dependents.

(c) While 60% of Pension wealth will be paid to the retiring NPS subscriber, the remaining 40% is invested by PFRDA on which retiring employee has no control. What is needed to be ensured is Guarantee for payment of 50% of Last Pat drawn as Pension. Remaining 40% pension wealth may be invested or used by PFRDA on which retiring employee may have no claim.

(d) In the Railways, the employer deducts 10% of wages from employee's salary towards subscription and contributes equal amount. No Railway employee knows what their actual amount is, as no written statement is furnished by the employer. The JCM (Staff Side) is not concerned about the role of PFRDA -NSDL etc., as every Railway employee wants to know what is his/her amount (subscription plus contribution). It should be ensured that Railways should give at least annually, the statement of accumulated amount to the employee so that on the date of his retirement, he/she will know whether entire money was credited to PFRDA and equally he/she will know what would be 60% of the total pension wealth. The present defective system needs to be streamlined.

The above is for information of affiliates.

Yours fraternally,
(Dr.M.Raghavaiah)
General Secretary.

Source: www.nfir.org.in

Allowing multiple choice to the subscribers/corporates to change Investment Option - PFRDA

Allowing multiple choice to the subscribers/corporates to change Investment Option - PFRDA

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

01 March 2017

CIRCULAR

PFRDA/2017/8/PD/2
To,
All Stakeholder in the National Pension System
Subject: 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 (PF), the investment option(Active or Auto choice) as well as asset allocation ratio (allocation among asset class-Equity/Corporate Bonds/Government securities/Alternate 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/Alternate 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 II 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 faithful

(Akhilesh Kumar)
Deputy General Manager

Signed copy

PFRDA eyes training 64,500 employees to create mass awareness on NPS, APY

PFRDA eyes training 64,500 employees to create mass awareness on NPS, APY

NEW DELHI: Pension regulator PFRDA has appointed IL&FS Skill Development Corporation to train 64,500 government employees and other stakeholders on various aspects of flagship schemes NPS and APY.

The training institute has been appointed to create mass awareness and impart training on National Pension System (NPS) and Atal Pension Yojna (APY) to the employees of Points of Presence, APY service providers, and corporates of North-West zone.

Nodal officers of central and state governments and those at state autonomous bodies too would be trained, said Pension Fund Regulatory and Development Authority (PFRDA).

"It is intended to have at least 50-60 participants in each session of 3-4 hours duration and conduct approximately 1,610 training sessions and train 64,500 participants in the NW zone over the next 12 months," PFRDA said while notifying the training institute.

Participants from Jammu and Kashmir, Himachal Pradesh, Uttar Pradesh, Uttaranchal, Punjab, Haryana, Bihar, Jharkhand, Chandigarh, Delhi, Goa, Gujarat, Maharashtra, Madhya Pradesh, Rajasthan, Chhattisgarh, Daman and Diu, Dadra and Nagar Haveli would be imparted training on various aspects of the two flagship social security programmes.

As on January 17, the overall number of NPS and APY subscribers stood at 1.42 crore, with Asset Under Management (AUM) of Rs 1.61 lakh crore. APY, which guarantees a monthly pension of Rs 1,000 - Rs 5,000, has about 43 lakh subscribers.

As on January 17, the overall number of NPS and APY subscribers stood at 1.42 crore, with Asset Under Management (AUM) of Rs 1.61 lakh crore. APY, which guarantees a monthly pension of Rs 1,000 - Rs 5,000, has about 43 lakh subscribers.

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.

NPS Committee Meeting to be held on 20.1.2017 - NC JCM Staff Side

NPS Committee Meeting to be held on 20.1.2017 - NC JCM Staff Side

Meeting of the Committee constituted to suggest measures for streamlining the implementation for the National Pension System for Central Government employees

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

3rd Floor, Lok Nayak Bhavan, Khan Market,
New Delhi-110003, Dated the 16th January, 2017

To,
(1) The Secretary,
National Conucil (Staff Side).
JCM for Central Government Employees,
13C, Finrozshah Road,
New Delhi-110001

(2) Shri Snjay Bhoosreddy,
Honoary Secretary,
Indian Civil & Administration Service (Central) Association,
190A, F Wing,
Krishi Bhawan, New Delhi - 110001,
(email-secylasca@gmail.com)

(3) Shri P.V.Rama Sastry, IPS,
Secretary/JS(Department of Consumer Affairs),
Krish Bhawan, New Delhi-110001,
(email-pvrastry@gmail.com)

Subject: Meeting of the Committee constituted to suggest measures for streamlining the implementation for the National Pension System for Central Government employees - reg.

Sir,
I am directed to say that a Committee under the Chairmanship of Secretary (Pension) has been constituted to suggest measures for streamlining the implementation of the National Pension System.

2. A meeting of the Committee with the JCM (Staff Side) and a few other Association is proposed to be held on 20.01.2017 at 11.00 a.m. at Conference Hall, 5th floor, Sardar Patel Bhawan, New Delhi. The members nominated to atted the said meeting should be well versed with the issue and include a fair mix of NPS beneficiaries.

3. In view of the paucity of time, Associations are requested to limit their presentation to not more than 20 minutes each.

4. This Department looks forward to your participation in the meeting.

Yours faithfully,
sd/-
Director(Pension Policy)
harjit.singh59@nic.in

Source: www.ncjsmstaffside.com

Measures for streamlining the implementation of the National Pension System for Central Government employees

Measures for streamlining the implementation of the National Pension System for Central Government employees

No. 57/112016-P&PW(B)
Government of India
Ministry of Personnel, PG and Pensions
Department of Pension and Pensioners Welfare

3rd Floor, Lok Nayak Bhawan,
Khan Market, New Delhi
Dated the 16th January, 2017

Notice

Subject: Measures for streamlining the implementation of the National Pension System for Central Government employees- reg.

A Committee has been constituted to suggest measures for streamlining the implementation of the National Pension System for Central Government employees. Accordingly, suggestions / views are invited for streamlining the implementation of the National Pension System for Central Government employees for may be sent through s.chakrabarti75@gov.in

(Harjit Singh)
Director (Pension Policy)

Source: http://www.pensionersportal.gov.in/

PFRDA to organise National Pension System service fortnight from February 1

PFRDA to organise National Pension System service fortnight from February 1

"In order to ensure availability of information and ease problem, PFRDA and NSDL/CRA send various communications regularly to promote awareness regarding NPS.

The activities scheduled to be taken up during the fortnight (Feb 1-15), include updating subscriber details, printing of transaction statement for the subscribers, resolving grievances and addressing issues of pending exit/withdrawals under NPS.

PFRDA will organise a service fortnight from February 1 for building subscribers awareness and disseminate information regarding National Pension System (NPS) - the government's flagship pension programme. According to the Pension Fund and Regulatory Development Authority (PFRDA), subscribers and employees of the central and state governments are not fully aware about NPS which leads to a large number of queries and grievances.

"In order to ensure availability of information and ease problem, PFRDA and NSDL/CRA send various communications regularly to promote awareness regarding NPS.

"However, it has been observed that in absence of latest contact details in their NPS accounts, most of the subscribers are not receiving such communication," the regulator said.

Therefore, during the awareness fortnight at offices of central and state governments, besides sharing information, nodal offices and the subscribers will be apprised about the need of updating their personal data to enable the system to work effectively.

The activities scheduled to be taken up during the fortnight (Feb 1-15), include updating subscriber details, printing of transaction statement for the subscribers, resolving grievances and addressing issues of pending exit/withdrawals under NPS.

PFRDA said the central ministries and state governments will be required to encourage the subscribers attached to them for downloading mobile apps. The maximum number of downloads of the app will be awarded.

The regulator said that downloading of mobile app by the subscribers will considerably reduce the dependence on the nodal officers.

"This will result in saving time and efforts of the nodal officers," it said. As on November 30, 2016 there were about 1.4 crore subscribers under NPS with over Rs 1.61 lakh crore asset under management.

Exemption of Railways from National Pension System – NFIR

Exemption of Railways from National Pension System – NFIR

Exemption of Railways from National Pension system (NPS) as recommended by the Railway Ministers – kind intervention and approval requested

NFIR
National Federation of Indian Railwaymen

No.IV/NPS/PFRDA BILL/Part I

Dated: 26.6.2016

Shri Narendra Modiji,
Hon’ble Prime Minister of India,
South Block,
Raisina Hills,
New Delhi-110011

Sub: Exemption of Railways from National Pension System (NPS) as recommended by the Railway Ministers – kind intervention and approval requested.

The National Federation of Indian Railwaymen (NFIR) brings to your kind notice to the standing demand raised by the Federations seeking exemption of National Pension System (NPS) and restoration of Defined Benefit Pension Scheme [Liberalized Pension Scheme i.e. Railway Services (Pension) Rules 1993].

In this connection, the NFIR brings to your kind notice that the nature of duties performed by the Railway employees are akin to those in the armed forces. The NFIR also invites your kind attention that since British Rule, the Railways was conceived and operated as un auxiliary wing of the Army. It is an admitted fact that by virtue of its complex nature, Railways required a high level of discipline and efficiency to be able to perform its role as the prime transport mode. Railways is an operational organization required to run the services round the clock throughout the year. The Railway employees are expected to work in inhospitable conditions, braving extreme weather conditions under open sky, unfriendly law and order scenario and inherent risks associated with the Railways operations itself.

It needs to be appreciated that as in the armed forces, large number of Rail Workforce stays away from their families for long period while performing duties in remote and jungle areas where minimum required facilities are lacking. The nature of duties of Railway employees is critical and complex & hazards involved are also very high. Though efforts are made for enhancing safety measures, a large number of Railway employees lose their lives or meet with serious injuries in the course of performance of their duties each year. This was also admitted by Dr. Anil Kakodkar, Chairman, High Level Safety Review Committee in his report presented to the Railway Ministry.

Conceding the plea of NFIR, the former Railway Minister Mallikarjun Kharge and also the present Railway Minister Suresh Prabhu have sent proposal to the Finance Minister in March, 2014 and November 2015 respectively urging upon the Government to exempt Railway employees from the purview of National Pension System OPS). In spite of proposals of the Railway Ministers, the Government has not yet accorded approval for exempting Railways from National Pension System (NPS). There is alround dissatisfaction and resentment among the Railway employees against.New Pension System.

The Railway employees are also a dissatisfied lot as the 7’r’ CPC has not done justice in respect of their pay structure etc. Added to this, non-abolition of National Pension System (NPS) has generated anger among all sections of Railway employees which compelled us to serve Strike Notice on 09’n June 2016.

NFIR, therefore, requests your kind intervention in the matter to see that the proposals of the Railway Minister seeking exemption of Railways from National Pension System (NPS), is approved by the Government without further loss of time.

With regards,

Yours sincerely,
(Dr.Raghavaiah)
General Secretary

Source: NFIR

Tax benefit available under National Pension System (NPS)

Tax benefit available under National Pension System (NPS)

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
B- 14/A, Chhatrapati shivaji Bhawan
Qutab Institutional Area,
Katwaria Sarai, New Delhi – 110 016

PFRDA/23/CORP/20/5

25th February, 2016

Dear sir,
Subject: Tax benefit available under National Pension System (NPS)

You would be aware that under the National Pension System (NPS), the subscribers can avail of tax benefit under Sec 80CCD(1), up to 10% of their salary (Basic+DA) which is capped at Rs.1.50 lakhs under section 80CCE. From FY 2015-16, an additional tax deduction over and above the Rs.1.5 Lakhs, is available only to subscribers of NPS if they invest upto Rs.50,000 in NPS under Sec 80CCD(IB) of the Income Tax Act. any citizen of India including persons covered under old defined benefit pension scheme can open NPS account on voluntary basis and avail of the tax benefits u/s 80 CCD (IB) by contributing additionally Rs.50,000/- to NPS.

2. This additional tax benefit on investment upto Rs.50000/- provides an opportunity not only to those employees who are mandatorily covered under NPS, but also to all other employees who may be covered under old pension scheme/provident fund/superannuation fund, as well as to any other Indian citizen between 18 to 60 years of age, to avail of this tax benefit by opening an NPS account on voluntary basis and by investing the required amount.

3. PFRDA has provided an easy and convenient way to subscribe to NPS by recently introducing eNPS, which any individual can make use of to join NPS. A new subscriber can adopt the following eNPS methods for joining NOS:

(a) Using Aadhaar card issued by UIDAI which is authenticated through OTP received from UIDAI on the registered mobile of the applicant. In this case, the subscriber can instantly get himself/herself registered. He/she has to simply visit the eNPS module in NPS Trust website at www.npst.org.in.

(b) Using PAN and net banking of the selected bank chosen by the subscriber. In this case KYC verification is done by the Bank. The NPS account gets activated only after KYC verification by Bank. He/she has to go to eNPS module in NPS Trust website at www.npstrust.org.in.

4. A new subscriber can also open an account physically through any of the Points-of-Presence-Service Provider (POP-SP). The list is available on www.pfrda.org.in.

5. Therefore, your employees who are not NPS members can open their NPS account, and make contributions using any of the three options mentioned above. Existing NPS subscribers can also make additional contributions to avail of the tax benefit by using any of the options as stated above.

6. Contribution upto Rs.50,000 in NPS for the additional tax benefit in the current year has to be made by 31-03-2016 and it is important that this message be conveyed to all your staff members and employees right upto the level of DDOs/DTOs, at the earliest. This will definitely help in their tax planning.

7. We request you to disseminate the above information to all concerned.

with regards,

Yours sincerely,
sd/-
(Mamta Rohit)
Chief General Manager

Source: pcdacc.gov.in