Conference on Implementation of National Pension System (NPS) in Central Autonomous Bodies (CABs)

Press Information Bureau
Government of India
Ministry of Finance

28-July-2016 11:39 IST

Conference on Implementation of National Pension System (NPS) in Central Autonomous Bodies (CABs) 

A conference on implementation of National Pension System (NPS) in Central Autonomous Bodies (CABs) was organized by PFRDA on 27th July 2016 at New Delhi. The prime objective of the conference was to understand and address the concerns of the Central Autonomous Bodies who have not yet registered for NPS. 

Shri Hemant Contractor, Chairman, PFRDA in his key note address stressed on the need for a regular and steady source of income for old age income security. He informed the participants that it was mandatory for all CABs which had offered CPF to its employees earlier to switch to NPS, but some CABs had not done so, and he urged them to adopt NPS without further delay, in view of the benefits of doing so, apart from the mandatory requirement. He gave the example of State Governments which had voluntarily adopted NPS in view of its merits. He further mentioned that it was important for CABs to offer a pension benefit to their employees in view of the many advantages, which could never be matched by lump sum payments such as CPF payment. He urged the CABs to comply with the Government directives and join NPS at the earliest so that the employees could get the benefit of pension under NPS for their old age income security. 

Dr. B. S. Bhandari, Whole Time Member (Economics), PFRDA, while speaking on the occasion highlighted on the introduction of NPS for all Central Government Employees (except armed forces) joining services on or after 01st January 2004 and also informed the participants about the various notifications issued by Government for implementation of NPS in the Central Autonomous Bodies. He also briefed about the basic operational aspects of the NPS, investment pattern & NPS architecture. He also illustrated the benefit of higher return under NPS and power of compounding on this higher return resulting to better yield in comparison to other superannuation benefits. 

Shri R V Verma, Whole Time Member (Finance) PFRDA, also urged to all the CABs present in the conference to be part of NPS and said that there is no reason why CABs have not implemented despite all the benefits in NPS. He informed that though the scheme is mandatory for all Central Autonomous Bodies having contributory Provident fund, many of the CABs are yet to join NPS. He expressed PFRDA is confident that this conference will help the participating CABs to understand NPS in a better way and will help them to join NPS at the earliest without further delay. 

. Currently, NPS has more than 1.30 crore subscribers with total Asset Under Management (AUM) of more than Rs.1.37 lakh crores.  

No switch yet from EPF to NPS; need govt clarity: PFRDA

PTI| Jul 27, 2016, 11.22 PM IST

In the proposed amendment made by government last year, employees have been given one time option to join NPS in lieu of EPF, which is run by retirement fund body EPFO.In the proposed amendment made by government last year, employees have been given one time option to join NPS in lieu of EPF, which is run by retirement fund body EPFO.

NEW DELHI: Not a single migration has taken place yet from EPF pension plan to NPS even after a year of government allowing the one-time switch as modalities are yet to be worked out, PFRDA chairman said today. 

The Finance Ministry has made a statement last year allowing one time change from EPF to NPS. But the modalities are still to be worked out, Pension Fund Regulatory and Development Authority of India(PFRDA) Chairman Hemant G Contractor told PTI. 

"We expect some clarity by government. Last year the government had said that they will permit switch from Employees Provident Fund (EPF) to National Pension System (NPS). But how that is going to happen is something which has not been clearly spelt out. So that's the clarity that we are awaiting from the government," Contractor said. 

On whether any such switch has happened so far, Contractor said: "Nothing has happened so far, no migration has happened." 

In the proposed amendment made by government last year, employees have been given one time option to join NPS in lieu of EPF, which is run by retirement fund body EPFO. NPS is run by PFRDA. 

In his Budget Speech 2015-16, Finance Minister Arun Jaitley had said: "With respect to the EPF, the employee needs to be provided two options. Firstly, the employee may opt for EPF or the New Pension Scheme." 

However it is to be noted that union leaders have already expressed reservations against providing option to workers to choose between EPF and NPS, saying that NPS is not a social security scheme rather it is a saving scheme.

Source : http://economictimes.indiatimes.com

No plans to dilute Lokpal Act: Govt

New Delhi, Jul 27 (PTI) The government today rejected criticism that the amendment brought by it in the Lok Sabha to extend the deadline of July 31 for declaration of assets by NGOs receiving government funds and Central government employees was aimed at "diluting" the transparency law.

Briefing reporters, Parliamentary Affairs Minister Ananth Kumar also said the amendment bill was brought after consulting all political parties.

Earlier, the Lok Sabha approved the amendment pertaining to the Section 44 of the Lokpal Act dealing with declaration of assets.

"...there is no dilution, there is no intention to dilute the act (Lokpal Act). It is crystal clear. The matter has been brought according to sense of the house," Kumar said.

Replying to a question that the bill was brought without taking Cabinet approval, the Minister of State for Parliamentary Affairs S S Ahluwalia said the legislation was moved invoking Rule 12 relating to the transaction of business of the Cabinet which provides for post-facto approval.

The amendment comes amidst criticism that the government was diluting the transparency law by classifying NGO officials as public servants. Earlier in the day, moving the amendment for consideration, Minister of State for Personnel Jitendra Singh said the government has received representations from MPs and other stakeholders. On July 25, a delegation of MPs had also met Prime Minister Narendra Modi demanding deletion of the provision, he said.

"Till the present impasse is overcome, the deadline with regard to government servants (for declaring assets) can be deferred," Singh said as he moved the amendment. He said the Standing Committee would submit its recommendations before the next session of Parliament and till then the deadline for declaration of assets of public servants and NGOs can be deferred. As per the rules notified under the Lokpal and Lokayuktas Act 2013, every public servant shall file declaration, information and annual returns pertaining to his assets and liabilities as well as for his spouse and dependent children as on March 31 every year or on or before July 31 of that year. In April, the government had extended the date of filing returns by public servants from April 15 to July 31. This is the fifth extension to the deadline since the Act came into force in January 2014. As per rules, NGOs receiving more than Rs 1 crore in government grants and donations above Rs 10 lakh from abroad fall under the ambit of Lokpal.

Source : http://indiatoday.intoday.in/

AIPEU, Gr.-C, CHQ responded to the letter written by Com. B Samal on one time absorption of all existing LSG and HSG-II officials

from:	AIPEU GROUPC <aipeugrc@gmail.com>
to:	"All India Postal Employess Union, Group-C Bhubaneswar Division" <aipeup3bbsr@gmail.com>
date:	Thu, Jul 28, 2016 at 3:14 PM
subject:	Re: One time absorption of all existing LSG and HSG-II officials in HSG-II and HSG-I cadre respectively – reg

Dear Comrade,

 We have already taken up the issue in general for all circles and again will remind Directorate.

(R. N. Parashar)

General Secretary

Relaxing minimum qualifying service condition for promotion to HSG-II & HSG-I cadre

 

 

 

CASUAL LABOURERS WITH TEMPORARY STATUS - CLARIFICATION REGARDING CONTRIBUTION OF GPF & OLD PENSION SCHEME

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CONGRATULATIONS & HEARTY WELCOME TO OUR SECRETARY, DEPT OF POSTS

I-T department to consider March 31 for senior citizen eligibility

While considering the higher exemption limit of tax liability for senior and very senior citizens, a person will be considered to have attained a particular age on March 31 if his or her birthdate is a day later on April 1, the CBDT today said.  

The Central Board of Direct Taxes (CBDT) issued a clarification on the issue, relying on a Supreme Court ruling of 1986, as it directed all its Assessing Officers (AOs) to henceforth "ascertain the age while computing tax liability of a taxpayer falling in individual category, being an Indian resident" by the new ruling. 

"The CBDT...hereby clarifies that a person born on April 1 would be considered to have attained a particular age on March 31, the day preceding the anniversary of his birthday. In particular, the question of attainment of age of eligibility of being considered a senior/very senior citizen would therefore be decided on the basis of above criteria," it said.  

The Board said the apex court, while giving the said ruling, had observed that "while counting the age of the person, whole of the day should be reckoned and it start from 12 O' clock in the midnight and he attains the specified age on the preceding, the anniversary of his birthday."  

The I-T department, for tax returns filing purposes, considers 60 years of age for a person to be considered senior citizen and 80 years for very senior citizen.  

While no income tax is to be paid by senior citizens up to annual income of Rs 3 lakh the same limit for very senior citizens is Rs 5 lakh.  

Source:-The Economic Times 

Procedure to take previous day's reports in Production(LIVE) Server

Previously we might use the MIS URL for taking the reports of previous day's LOTs and consolidation. 

But today onwards we can take the report in LIVE URL or Production Server which is what we use daily to perform the transactions. 

For MIS / SCSS / TD / PPF / RD / SB, the report (Common Counterwise Transactions (Today) ) can be generated for 3 days - BOD, BOD - 1, BOD - 2 in Production. 

Required patch deployed in the production server hence users can generate in LIVE URL only for the previous day's reports.

Step by step procedure is mentioned below 

Procedure to take previous day's reports in Production(LIVE) Server :-  

Invoke the menu HFINRPT then the system will show the below screen shot as shown 



Then go to page number 2 as shown in the below screen shot 



Then select previous day's report from the list of reports for your choice of scheme for example i am selecting the below report for DEMO purpose

Common Counter Wise Transactions Report - KVP16(Previous day) as shown in the below screen 



Click on the report then the system will display below screen 




Then enter the following details 

Report TO field as "PM or postmaster " 

Enter the date __________ 

Enter the SOLID _______________ as shown in the figure 



Then click on submit then view the report in HPR and print the report. 








Note :- 

When we are trying to generating the reports for SB,RD system is showing the error "Enter all mandatory fields" this has been reported and it will solved shortly 

When we try to generate TD lot for previous day system is showing the error "Fatal Error" this has been reported and it will be solved shortly.

Centre agrees to put on hold assets declaration provision

NEW DELHI, July 27, 2016

The Centre on Tuesday agreed in principle to put on hold the decision mandating “public servants” to disclose their assets before July 31 in line with a Lokpal Act provision. The government was responding to concerns raised by both political and apolitical quarters, and will now further examine the order’s implications.

On Monday, Prime Minister Narendra Modi told a delegation of senior political leaders, including Sharad Pawar, Digvijaya Singh and D. Raja, that there was merit in the case for review of some of the Lokpal Act’s provisions, including that of the definition of “public servant.” The Prime Minister told them that he would ask the Home Ministry to extend the deadline regarding declaration of assets.

“Our impression from the government is that it agrees with the contention on the adverse implications of ‘public servant’ as defined under the Lokpal Act. To begin with the government is expected to put on hold the notification and then bring in some amendments which would be referred to the Parliamentary Standing Committee. It is immediately not clear if the amendments would be moved in the ongoing session of Parliament,” Mr. Raja told The Hindu.

In the last few weeks, several organisations have been seeking similar clarifications from the government.

As per the notification issued last month, officials and senior employees of bodies receiving funds from overseas, or from the government beyond specified limits, are covered under the Act, and must disclose their assets and those of their spouse and dependent children by July 31. This makes the law applicable to many charitable organisations and their functionaries, and can impede philanthropic activities.

Source : http://www.thehindu.com/