സ്ത്രീകള്‍ എങ്ങിനെ വസ്ത്രം ധരിക്കണം എന്ന് പുരുഷന്‍ നിഷ്ക്കര്‍ഷിക്കുന്നത് ശരിയോ? അല്ലെങ്കില്‍ തിരിച്ചും?

Thursday, June 30, 2016

Calculate New Salary using 7th Pay Commission Pay Scale Calculator

Calculate New Salary using 7th Pay Commission Pay Scale Calculator


7th CPC was cleared today by Union Cabinet Ministers. To our utter disappointed it is implemented without any changes. But what we can do? Let's see if our Unions can fight.
But before that let us know how much our pay is increasing and how the pay is calculated.
Note: If you are lazy like me, scroll down directly and use the calculator
1. First multiply your current basic with
a) 2.57 if you are in the pay scale of 5200-20200
b) 2.62 if you are in the pay scale of 9300-34800
c) 2.67 if you are in the pay scale of 15600-39100
all higher grade officers will anyways get much higher salaries so we will not discuss about them here.
Now after multiplying your current basic(including grade pay) see this image below.


Now check your new basic as follows.

My basic is 11510. So if if multiply 11510 with 2.57( i'm in 5200-20200 pay scale with grade pay 2400) i will get 29580.07. Round it off to 29581. Now in the first image in pay band 5200-20200 and in grade pay 2400 column check where we find the next higher figure to 29581.

In my case the new basic will be 29600.

So that is my new basic. = 29600. Lets see my new gross salary.

New Basic = 29600
New DA ( as on 01.01.2016) = 0%
New HRA = 29600x24% = 7104 ( i live in hyderabad , so new hra will be 24%)
New TA = 3600+(3600*0%)=3600(For  Higher TPTA cities like mumbai, delhi, hyderabad etc ta will be 3600+DA and for other cities it will be 1800+DA. TA also depend on our new pay level See TA table below)



So my total gross will be 40304.

My present Gross is 32951.

Hike i am getting is 40304  -  32951 = 7353.

And media is calling this as bonanza, bumper offer, inflation will rise.

For lazy people like me you can directly use the calculator. I don't know who created it but thanks to them.



Calculate your new salary and comment your old and new salaries below.
Share this article :

Cabinet approves Implementation of the recommendations of 7th Central Pay Commission : PIB News

recommendations of 7th Central Pay Commission : PIB News

Cabinet approves Implementation of the recommendations of 7th Central Pay Commission : PIB News


Cabinet approves Implementation of the recommendations of 7th Central Pay Commission
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the implementation of the recommendations of 7th Central Pay Commission (CPC) on pay and pensionary benefits.   It will come into effect from 01.01.2016.
In the past, the employees had to wait for 19 months for the implementation of the Commission’s recommendations at the time of 5th CPC, and for 32 months at the time of implementation of 6th CPC.  However, this time, 7th CPC recommendations are being implemented within 6 months from the due date.
The Cabinet has also decided that arrears of pay and pensionary benefits will be paid during the current financial year (2016-17) itself, unlike in the past when parts of arrears were paid in the next financial year. 
The recommendations will benefit over 1 crore employees. This includes over 47 lakh central government employees and 53 lakh pensioners, of which 14 lakh employees and 18 lakh pensioners are from the defence forces.
Highlights:
1.            The present system of Pay Bands and Grade Pay has been dispensed with and a new Pay Matrix as recommended by the Commission has been approved. The status of the employee, hitherto determined by grade pay, will now be determined by the level in the Pay Matrix. Separate Pay Matrices have been drawn up for Civilians, Defence Personnel and for Military Nursing Service. The principle and rationale behind these matrices are the same.
2.            All existing levels have been subsumed in the new structure; no new levels have been introduced nor has any level been dispensed with. Index of Rationalisation has been approved for arriving at minimum pay in each Level of the Pay Matrix depending upon the increasing role, responsibility and accountability at each step in the hierarchy.
3.            The minimum pay has been increased from Rs.  7000 to 18000 p.m.  Starting salary of a newly recruited employee at lowest level will now be Rs.  18000 whereas for a freshly recruited Class I officer, it will be Rs.  56100.  This reflects a compression ratio of 1:3.12 signifying that pay of a Class I officer on direct recruitment will be three times the pay of an entrant at lowest level.
4.            For the purpose of revision of pay and pension, a fitment factor of 2.57 will be applied across all Levels in the Pay Matrices.
5.            Rate of increment has been retained at 3 %. This will benefit the employees in future on account of higher basic pay as the annual increments that they earn in future will be 2.57 times than at present.
6.            The Cabinet approved further improvements in the Defence Pay Matrix by enhancing Index of Rationalisation for Level 13A (Brigadier) and providing for additional stages in Level 12A (Lieutenant Colonel), 13 (Colonel) and 13A (Brigadier) in order to bring parity with Combined Armed Police Forces (CAPF) counterparts at the maximum of the respective Levels.
7.            Some other decisions impacting the employees including Defence & Combined Armed Police Forces (CAPF) personnel include :
·               Gratuity ceiling enhanced from Rs.  10 to 20 lakh. The ceiling on gratuity will increase by 25 % whenever DA rises by 50 %.
·               A common regime for payment of Ex-gratia lump sum compensation for civil and defence forces personnel payable to Next of Kin with the existing rates enhanced from Rs. 10-20 lakh to 25-45 lakh for different categories.
·               Rates of Military Service Pay revised from Rs.  1000, 2000, 4200 & 6000 to 3600, 5200, 10800 & 15500 respectively for various categories of Defence Forces personnel.
·               Terminal gratuity equivalent of 10.5 months of reckonable emoluments for Short Service Commissioned Officers who will be allowed to exit Armed Forces any time between 7 and 10 years of service.
·               Hospital Leave, Special Disability Leave and Sick Leave subsumed into a composite new Leave named ‘Work Related Illness and Injury Leave’ (WRIIL). Full pay and allowances will be granted to all employees during the entire period of hospitalization on account of WRIIL.
8.            The Cabinet also approved the recommendation of the Commission to enhance the ceiling of House Building Advance from Rs.  7.50 lakh to 25 lakh. In order to ensure that no hardship is caused to employees, four interest free advances namely Advances for Medical Treatment, TA on tour/transfer, TA for family of deceased employees and LTC have been retained. All other interest free advances have been abolished.
9.            The Cabinet also decided not to accept the steep hike in monthly contribution towards Central Government Employees Group Insurance Scheme (CGEGIS) recommended by the Commission. The existing rates of monthly contribution will continue. This will increase the take home salary of employees at lower levels by Rs. 1470. However, considering the need for social security of employees, the Cabinet has asked Ministry of Finance to work out a customized group insurance scheme for Central Government Employees with low premium and high risk cover.
10.        The general recommendations of the Commission on pension and related benefits have been approved by the Cabinet. Both the options recommended by the Commission as regards pension revision have been accepted subject to feasibility of their implementation. Revision of pension using the second option based on fitment factor of 2.57 shall be implemented immediately. A Committee is being constituted to address the implementation issues anticipated in the first formulation. The first formulation may be made applicable if its implementation is found feasible after examination by proposed Committee which is to submit its Report within 4 months.
11.        The Commission examined a total of 196 existing Allowances and, by way of rationalization, recommended abolition of 51 Allowances and subsuming of 37 Allowances. Given the significant changes in the existing provisions for Allowances which may have wide ranging implications, the Cabinet decided to constitute a Committee headed by Finance Secretary for further examination of the recommendations of 7th CPC on Allowances.  The Committee will complete its work in a time bound manner and submit its reports within a period of 4 months. Till a final decision, all existing Allowances will continue to be paid at the existing rates.
12.        The Cabinet also decided to constitute two separate Committees (i) to suggest measures for streamlining the implementation of National Pension System (NPS) and (ii) to look into anomalies likely to arise out of implementation of the Commission’s Report.
13.        Apart from the pay, pension and other recommendations approved by the Cabinet, it was decided that the concerned Ministries may examine the issues that are administrative in nature, individual post/ cadre specific and issues in which the Commission has not been able to arrive at a consensus.
14.        As estimated by the 7th CPC, the additional financial impact on account of implementation of all its recommendations in 2016-17 will be Rs. 1,02,100 crore. There will be an additional implication of Rs. 12,133 crore on account of payments of arrears of pay and pension for two months of 2015-16.
  
***
AKT/VBA/NT/SK
Source : PIB (Release ID :146644

Wednesday, June 29, 2016

Cabinet is likely to take up 7th Pay Commission recommendations for Central Government employees on June 29

Cabinet is likely to take up 7th Pay Commission recommendations for Central Government employees on June 29

Cabinet is likely to take up 7th Pay Commission recommendations for Central Government employees on June 29
The Cabinet is likely to take up Seventh Pay Commission recommendations for government employees on June 29.
Implementation of new pay scales recommended by the 7th Pay Commission is estimated to put an additional burden of Rs 1.02 lakh crore on the exchequer annually.
Finance Minister Arun Jaitley had in his Budget for 2016-17 provisioned Rs 70,000 crore towards Seventh Pay Commission awards, which is around 60 per cent of the incremental expenditure on salaries.
The Pay Commission’s recommendations are due from January 1, 2016.
The central government constitutes the pay commission every 10 years to revise the pay scales of its employees. The Commission was set up by the UPA government in February 2014 to revise remuneration of about 48 lakh central government employees and 55 lakh pensioners.
Source : NDTV Profit


Wednesday, June 15, 2016

One day paid weekly off for casual workers-implementation of the Honorable CAT, Ahmedabad bench in the OA No. 214 of 2003 filed by Mrs. Bhikaben Pratapbhai Prajapati- Seekings comments on draft O.M.

One day paid weekly off for casual workers-implementation of the Honorable CAT, Ahmedabad bench in the OA No. 214 of 2003 filed by Mrs. Bhikaben Pratapbhai Prajapati- Seekings comments on draft O.M.




To view Department of Personnel and Training OM No.49019/1/95-Estt-(C) dated 14th June, 2016 please Click Here.

RECRUITMENT OF CASUAL WORKERS AND PERSONS ON DAILY WAGES

RECRUITMENT OF CASUAL WORKERS AND PERSONS ON DAILY WAGES

Postal Directorate asks for information from all Circle Heads in respect of Cadre Restructuring proposal group C Employees of RMSrms

Postal Directorate asks for information from all Circle Heads in respect of RMS, SBCO, CO/RO, Postmaster Cadre and Mail Guard for Cadre Restructuring

Friday, June 10, 2016

7th Pay Commission : Good News! Govt Employees To Get Revised Pay Scales 'Increment' From August 1, 2016

7th Pay Commission : Good News! Govt Employees To Get Revised Pay Scales 'Increment' From August 1, 2016




7th Pay Commission : Good News! Govt Employees To Get Revised Pay Scales 'Increment' From August 1, 2016


New Delhi, June 9: Government employees who are waiting for the implementation of Seventh Pay Commission, will get good news soon. Reportedly, Government will disburse revised pay scales 'increment' in the first week of August. 

Sources close to Finance Ministry official was quoted by Financial express as saying, "Central government employees could get the revised pay-scales with their July salaries that would be credited on August 1".

It is being believed that within these two months (June and July) all remaining formalities will be done. 

Reportedly, Cabinet Secretary PK Sinha headed Empowered Committee of Secretaries will meet this weekend (June 11) to give final touch to pay commission's recommendations. 

After that, the Committee will submit its report to Finance Ministry, which will then seek Cabinet's nod for the same. Most likely, Cabinet Committee will give its nod and through the proposals at the end of this month. 

Reportedly, Empowered Committee has pushed for more increment than earlier proposed by the pay Commission in its report. 

As per media reports, secretaries panel have suggested maximum salary to be Rs. 2,70,000, which is twenty thousand more than the prescribed upper limit by the pay commission. 

Panel wants lowest salary to be fixed at Rs. 21,000, which is three thousand more than the lower prescribed limit. Sources say that Government most likely will accept this new proposal. 

Source : OneIndia News

Saturday, June 04, 2016

Saints protest against commercialisation of 'Gangajal', threaten to move SC



Haridwar saints warned the govt to stop commercialisation of Ganjajal, else they would move the Supreme Court.
Haridwar/New Delhi: The Centre's initiative to get 'Gangajal' delivered at doorsteps by Indian Postal Services may receive a jolt after saints in this holy city on Wednesday passed a "censure motion" condemning the government for using e-commerce platform to sell the holy water.
They warned the government to stop commercialisation of Ganjajal, else they would move the Supreme Court (SC).
"This is Hindustan. Ganga is our mother and the soul of over 100 crores Indians. Selling mother is not just a sin, but a greatest sin. Ganga is our faith. We condemn the scheme launched by the government. If they don't stop it, we will move to the Supreme Court," Swami Achyutanand Teerth Ji Maharaj told ANI after their proceeding was over.
Meanwhile, senior BJP leader and Union Minister for Communications and Information Technology Ravi Shankar Prasad said, "If Gangajal from Haridwar and Rishikesh reaches to villages of the country, it's a good thing. It will benefit the rural areas. We are changing the face of the country through the postal department."
As per reports, the plan to provide the holy water has already been implemented by some of the e-commerce websites and for a litre bottle sourced from Gomukh, the place from where the river originates, the e-commerce company charges Rs 299. 
Source : http://www.newsx.com

NFPE writes to Secy(Posts) on Cadre Restructuring in Department of Posts



National Federation of Postal Employees
1st Floor North Avenue Post Office Building, New Delhi-110001
Phone: 011.23092771                       Mob :9868819295/9810853981                e-mail: nfpehq@gmail.co:     website:http://www.nfpe.blogspot.com

No. PF-Cadre Restructuring/2016                                             Dated: 03rd June, 2016

To
            The Secretary,
            Department of Posts,
            Dak Bhawan,
            New Delhi-110 001

Sub: Cadre Restructuring in Department of Posts.

Respected Sir,
            I would like to convey my sincere thanks to the Department of Posts for issuing orders of Cadre Restructuring for PA Cadre in Department of Posts vide No.25-04/2012-PE- dated 27th May, 2016.

            In this connection I would like to draw your kind attention towards the agreement signed  between Postal Administration and Staff Side consisting NFPE and FNPO  under which it was assured  that the same will  be implemented  for all cadres in Department of Posts that i.e. RMS, R-III & R-IV, Mailguard, Mail Men, MMS, Postman, PA CO , PA SBCO , Postal Accounts  and Postmaster Cadre.

            But it is surprising that this has been implemented for Postal Assistant Cadre only in isolation which has created resentment and agitation in the minds of other sections of Department of Posts.

            It is therefore  requested  to kindly bestow your personal attention in this  matter  and  cause appropriate action  to get the  Cadre Restructuring  proposal implemented in all other Cadres  of the Department of Posts  as mentioned  above  as early as possible.

            An early action is highly solicited.
            With regards
Yours faithfully,

(R.N. Parashar)
Secretary General
Copy to : All General secretaries of NFPE Unions
 

National Pension System (NPS) : PFRDA

National Pension System (NPS) : PFRDA


FOR PUBLIC AND STAKEHOLDERS COMMENTS –CONCEPT PAPER- CHOICE TO THE GOVT EMPLOYEES

A. Launch of NPS and Current scenario

1. The National Pension System (NPS) was introduced in 2003 for all Central Government employees (except armed forces) who joined the service on or after 01.01.2004. The NPS marked a paradigm shift from the Defined Benefit Pension Scheme to Defined Contribution Scheme, thereby easing the escalating fiscal stress on the Government on account of rising pension liabilities. In 2009 different Schemes under the flagship of National Pension System were launched under the private sector and unorganised sector.
2. The National Pension System (NPS) has been arguably hailed as one of the best designed pension products domestically with its several unique features like full portability across jobs and geographical jurisdictions, choice of investment options to suit different risk appetites, option to choose from among several fund managers, no entry or exit loads, and perhaps the lowest fund management charges in the world. It is also regulated by a dedicated regulator.
3. The passage of the PFRDA Act in September 2013 followed by notification of the Act on 1st February 2014 marks an important milestone in the history of the Pension Sector reforms as the Act provides an overarching mandate to the PFRDA for promotion and development of old age security in India. In light of the paradigm shift in the pension landscape in the country, it is imperative to review the progress of NPS so far and realign the existing policy framework for Pension Funds within the mandate of the Act.
4. The NPS adopted a direct selling model to keep the costs low and to avoid the urge to mis-sell due to the embedded commissions. This distributor-free and agent-free model was designed to protect the individual and to maximise the pension wealth. It was adopted even at the risk of a slow start. The NPS architecture has been designed to create an enabling environment for the citizens to save for retirement.
5. Additionally, NPS also provides flexibility to subscribers where they can switch their pension funds among three options, i.e. equity, corporate bonds and government securities. They can also change their fund managers if they are not satisfied with the performance of Pension Funds.

B. Need of Revamping

It is more than 12 years under NPS Govt. Sector and 6 (six ) year since NPS was introduced in the market to cater to the retirement needs of Private Sector/Unorganised Sector subscribers.
The NPS has made noticeable progress from the time of its inception, on boarding about 1 Crore subscribers with a total AUM exceeding 100000 crores by Dec 2015, with only 12% of the workforce covered by any kind of old age security in India, there is thus a huge untapped potential for NPS to expand. However, this would require multipronged approach with co-operation of multiple stakeholders including Central Government, State Governments, Autonomous bodies, trade bodies, Regulators and many more.
Besides the expansion in coverage, the provision of old age income security also entails working towards adequacy of income post working life, which can be done by optimizing returns through appropriate investment guidelines. While devising the investment guidelines, the interest of the subscriber is to be kept paramount, balancing the security aspect with adequacy of returns. While returns on investment under DC scheme cannot be guaranteed, it is important to frame guidelines, which enable the pension funds to deliver good real rate of returns to the subscriber for meaningful old age income security, which cannot be done with overload of fixed income securities. Hence, an enabling environment is required to be created for the Subscriber to maximize his/her returns depending upon his/her risk appetite.
The fiscal stimulus being provided by the Government each year through its budget announcements are a major boost to the NPS , propelling the built up of a pensioned society.
The experience gained since last more than decade this has been quite obvious that the NPS system has a well laid out architecture, it has been able to draw enough attention from the individual subscribers by very little marketing and publicity. It is also perceptible that investor awareness towards the various financial products has grown to the extant where subscribers can decide about the mix of asset class and Pension Fund and change the same as per its discretion.

C. NPS FOR GOVT. SECTOR EMPLOYEES

1. Earlier Government, the pension funds of the Central Government employees are currently being allocated amongst the three public sector pension funds (UTI PFM, SBI PFM, LIC PFM) in the ratio of their returns. The investment pattern for the Central Govt. employees is also stipulated by the Government, having a preponderance of fixed income securities, which can currently go upto 95% while the maximum exposure in Equities is restricted to 15%
2. In the early stages of the movement from Defined Benefit to Defined Contribution, what propelled the Govt to make these choices was, perhaps, the over-riding concerns towards shielding the savings of beneficiaries from volatility and risk, and protecting it from capital erosion. These anxieties seem justified and essential for the development of NPS in its nascent stages. The Directed Investment regime was also in keeping with the low financial literacy levels in the country and underdeveloped financial and nascent regulatory environment in the pension sector at that time.
1. CHOICE TO THE GOVT EMPLOYEES
Reasoning: Key reasons to claim choice to the Govt. employee from are –
1. Shift in risk from employer to employee: It cannot be over emphasised that the movement from DB scheme to NPS marks a shift in onus of funding the old age income security from the employer to the individual employee, through his/her individual retirement accounts.
2. Mandate under PFRDA Act 2013: It is in this back ground that the PFRDA Act provides for opportunities to the subscriber to maximise his returns in the risk return paradigm. Section 20(2) of PFRDA Act, 2013, states that there shall be a choice of multiple pension funds and multiple schemes. Hence, post the notification of the PFRDA Act, there is need to align the investment framework for the Govt employees including Central Govt employees.
3. Parity with other subscribers: The subscribers under the private sector are already enjoying a choice in the selection of Pension Fund Manager(both public and private sector PF) as well as the choice to allocate funds amongst the three asset classes (Equity(E), Corporate Debt (C) and G ( Govt securities) with only ceiling of 50% on equity. On the other hand, the investment pattern for the Central Govt employees prescribes preponderance of fixed income securities, which can currently go upto 95% while the maximum exposure in equities is restricted to 15%, effectively limiting subscriber choice.
4. Recommendations of the Bajpai Committee report (2015) : The recently released report of the Bajpai Committee has also recommended the opening of the choice of pension funds and allowing same investment pattern as permitted to the private sector employees.
a) Choice of the pension funds
1. The current process restrict the deployment of funds of the Central Govt. employees across the three Public Sector PFs only. In the first place, this prevents the employees to choose a pension fund(even amongst public sector PFs as they are restricted to a combination of three Public sector PFs) Secondly ,this dispensation disallows them to tap the expertise of the Private sector pension Funds. Not only is this discriminatory on the grounds of equity, this also militates against the spirit of the PFRDA Act which provides for choice of the Pension fund under section 20(2).
2. It may not be out of place to mention that the PFRDA Act further provide for at least one public sector Pension fund. Hence, those Govt sector employees always have the option of choosing a public sector Pension Fund. However, this has to be the conscious decision of the employee, based on his perception of the performance of the Pension Fund, rather than a mandate by the employer.
3. The opening of choice of Pension funds to the Central Government employees will not only benefit the employees but also galvanise the pension sector in more ways than one. It would create competition amongst the pension funds, both public sector and private sector- to vie for the pension corpus. Enhanced size of the market will also attract more players in Fund Management space leading to greater specialization, risk diversification, risk management and enhanced governance standards and better performance across the industry. The concomitant result would be increased efficiency in both pricing & servicing and higher levels of subscriber satisfaction. Hence, for the benefit of subscribers and development of the pension sector as a whole, it would be desirable to allow market forces to determine the size of the pension corpus managed by a pension fund rather than through a mandated / directed regime. This has also been recommended by the Bajpai committee as stated below.
The restriction of allowing Pension funds only from the public sector to manage the funds of Government employee subscribers may be done away with. This will also be in keeping with the mandate under the PFRDA Act to provide choice to the subscriber. On the other hand, the enhanced competition and the appurtenant economies of scale shall go a long way in building a healthy pension corpus for the subscriber.”
4. However, as approved by the Board, the default option for central Govt employees could continue be the combination of three Public sector Pension Funds as hitherto. Subsequently, this could be moved to one pension fund from the public sector and finally to any pension fund, selected as default Pension Fund.
b) Choice of investment pattern
1. The existing investment pattern prescribed for the Govt employees is broadly based on the guidelines stipulated by the Govt from time to time. Currently, the guidelines for the Govt sector are being revised broadly based on the Govt OM no 11/14/2013-PR dated 7th April 2015. The Govt. guidelines stipulate investment of minimum 80% in fixed
income securities- Govt securities and corporate bonds- which can go upto 95%.Investment in equity has been mandated between 5 to 15%.
2. As per the Bajpai Committee report (2015),
“ The design of the mandated investment norms in vogue today with predominance of low risk fixed income securities, that too mainly Government securities, has lower tolerance for risk, but a high tolerance level for lower returns especially in case of the Government Sector employees. This is, in the opinion of this Committee, unfair for the investors who may need a combination of low risk with moderate returns or even higher returns with higher risks. This is especially true for those in the early stages of their saving curve. There can be no denying that in the pursuit of risk-free investment, investors are getting the short shrift and are therefore revealing a preference for physical assets.”
3. On the other hand, guidelines for the private sector allows the subscribers to allocate their contribution across the three asset classes – Equity, Corporate bonds and Govt securities with only restriction of investment in equity upto 50% . Thus, on the grounds of parity, and keeping in view the spirit of the PFRDA act to allow choice of schemes, it is essential to revisit the framework for investment by the
Central Government employees and allow them choice of investment as available to the Private Sector employees.
4. This has also been recommended by the Bajpai Committee ( 2015) as under:-
“Multiplicity of investment mandates across various Regulatory Regimes within the domain of pension sector creates an uneven playing field and therefore there is an urgent need to harmonise the same. The existing investment norms across all regulatory regimes be harmonised, at least till such time as the move to a prudent investor regime is complete. This creation of a harmonised regime will usher in transparency and allow investors to compare their returns across product platforms. A beginning can be made by harmonizing the investment guidelines within NPS across Government and Private Sector i.e. loosening the guidelines for Govt sector to allow more play to the Pension Fund managers in asset classes like equity, which are historically known to beat inflation across various countries in the long run.
5. It is also pertinent to mention that the capital market has also been evolving rapidly with new instruments being offered and the opportunities for investors growing. With the shift of burden of funding the retirement income resting on the employee, it is important to create a facilitating environment to enable him to plan his retirement judiciously through prudent investments based on his risk appetite.
6. The opening of the Govt sector, which comprises the majority of the AUM of the NPS, will have cascading impact on the development of the capital market, and the development of the economy as a whole. A step in this direction has already been taken by the Govt by mandating minimum 5% investments in the equity in its OM no 11/14/2013-PR dated 7th April 2015. Harmonisation of the investment guidelines between private and Govt sector will also pave way towards a more unified pension regime in the country.
The opening of the choice to the Central Govt employees would be a first step in opening the choice to all the NPS subscribers as under:-
a) Choice of Pension Funds across all pension funds to all the subscribers under NPS including Govt Sector employees ( APY is a DB cum DC scheme and hence will be out of the purview )
b) Choice of investment pattern ( Choice of equity , Debt and Govt Securities) across all pension funds to all the subscribers under NPS including Govt sector employees . ( APY is a DB cum DC scheme and hence will be out of the purview)
Note: Comments may be offered vide e-mail on sumeet.kapoor@pfrda.org.in or in hard copy to the below address-
Ms. Sumeet Kaur Kapoor
Pension Fund Regulatory and Development Authority
1st Floor, Chatrapati Shivaji Bhawan 
B-14/A, Qutub Institutional Area 
New Delhi-110016

Share this article :