No. 4-1/2019-PCC
Government of India
Ministry of Communications
Department of Posts

Dak Bhawan, Sansad Marg
New Delhi – 110001
Date : 22.04.2019

To

Shri Arup Kumar Seal,
General Secretary,
All India Association of Inspectors and Asstt. Supdt. Posts,
Qtr. No. 12, P&T Colony, Khurshid Square,
Civil Lines, Delhi -110054.

Sub : Granting of GP Rs. 5400 in PB -2 (Level 9 in Pay Matrix) on completion of four years of service in the GP Rs. 4800 (Level 8 in Pay Matrix) to ASPs on non functional basis.

Sir,

I am directed to refer to your letter No.SG/AIAIASP/03/2018 on the above mentioned subject and to inform that the issue of granting NFSG in pre­ revised GP Rs. 5400/- in PB-2 corresponding to Level 9 to Asstt. Superintendent Posts on completion of four years of service in the pre-revised GP Rs. 4800/- (Level 8 in Pay Matrix) has been examined with following observations:-

i. The NFSG Scale is given to AAOs in P&T Accounts vide MoF OM No. 25-2/2017- IC/E.III (A) dated 18.06.2018 as per recommendations of 7th CPC in Para 11.12.140 of the report whereas there is no such recommendation for ASP cadre. Moreover, AAOs in P&T Accounts are having all India Transfer Liability and on contrast, the ASP is a Circle level cadre. Further, ASPs are enjoying Rule 38 transfer from one Circle to other whereas there is no such provision for AAOs. As such, the plea for granting NSFG to ASP cadre in line of AAO cadre as mentioned in the representation is not tenable.

ii. There is different time span in promoting IPs to ASPs in Circles as ASP is a Circle level cadre. In some Circles IPs get promotion in ASPs cadre immediately after completion of minimum qualifying years of service in IP cadre viz 3 years (now 5 years) whereas in some Circles IPs are waiting their hierarchical promotion in ASP cadre even after regular service of 10-13 years in the cadre. The NSFG Scale would not only make a huge disparity in pay among ASPs who are originally entered in IP cadre on the basis of same examination and are borne on the same IP gradation list.

Therefore, the proposal to grant NSFG to Asstt. Superintendent Posts on completion of four years of service cannot be recommended.

Yours sincerely,
sd/-
(SB Vyavahare)
Asstt.Director General (GDS/PCC)

Source: NFPE

The post Granting of GP Rs. 5400 in PB -2 (Level 9 in Pay Matrix) to ASPs on a non-functional basis upon completion of four years of service in GP Rs. 4800 (Level 8 in Pay Matrix) appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

CIRCULAR

PFRDA/2O13/5/PDEX/4

14th February 2013

To,
All POP’s/ Aggregators/ CRA/ dealing offices of Central & State Governments,

Subject: Default ASP and Annuity Scheme for subscribers exiting from NPS and Seeking withdrawal of Accumulated Pension Wealth.

PFRDA has empanelled seven Annuity Service Providers (ASP’s) for providing annuity services to NPS subscribers. As per current National Pension System (NPS) exit norms,the subscriber is mandatorily required to select one of the empanelled ASP’s along with an Annuity scheme from those offered by the chosen ASP at the time of exiting from NPS and seeking withdrawal of accumulated pension wealth (for reasons other than death of the subscriber).

Based on the feedback received from stakeholders seeking provision of a default option to be exercised by the subscriber at the time of selection of the ASP and choosing of an annuity scheme, PFRDA has examined the matter and decided to assist the subscriber by providing a default option.

After examining the various options provided by the different ASPs, it has been decided to provide for a default ASP and annuity scheme as below:
1. Default Annuity Service Provider — Life Insurance Corporation of India.

2. Default Annuity Scheme – Annuity for life with a provision of 100% of the annuity payable to spouse during his/her life on death of annuitant’ and Under this option, payment of monthly annuity would cease once the annuitant and the spouse die or after death of the annuitant if the spouse pre-deceases the annuitant, withoutany return of purchase price.

3. However, where the corpus is not adequate to buy the default annuity variant and from the default ASP, the subscriber has to compulsorily choose an ASP who offers an annuity at the available corpus in the account of the subscriber.

Also, it may be noted that this default option is being purely provided in the subscribers’ interest and to avoid any delay in claim processing and is not with a view to endorse/promote any particular ASP or annuity variant being offered by the ASP.

The default ASP and the default annuity scheme as above would be applicable for all variants of NPS i.e. Government Sector, Swavalamban and those accounts under NPS lite platform not able to meet the compulsory contribution under Swavalamban scheme, Corporate and All Citizen model.

This is for the information of all concerned. The circular has also been placed on PFRDA website at http://www.pfrda.org.in and CRA website at http://www.npscra.nsdl.co.in.

Yours Faithfully.,
Sd/-
Venkateswarlu Peri
General Manager

Source: www.pfrda.org.in

The post Default ASP and Annuity Scheme for subscribers exiting from NPS and Seeking withdrawal of Accumulated Pension Wealth appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

Cir no: PFRDA/ 2013/2/ PDEX / 2
SL-6

Subject: Empanelment of Annuity Service Providers (ASPs) under National Pension System for providing annuity services

PFRDA has issued necessary instructions to CRA with respect to the Empanelment of Annuity Service Providers (ASPs) under National Pension System for providing annuity services. The said information is being re-iterated hereunder for the information of all stakeholders for a better appreciation of the matter.

Following seven Annuity Service Providers (ASPs) have been empanelled for the purpose.
1. Life Insurance Corporation of India
2. SBI Life Insurance Co. Ltd.
3. ICICI Prudential Life Insurance Co. Ltd.
4. Bajaj Allianz Life Insurance Co. Ltd.
5. Star Union Dai-ichi Insurance Co. Ltd.
6. Reliance Life Insurance Co. Ltd.
7. HDFC Standard Life Insurance Co. Ltd.

The companies would be offering their approved annuity products to NPS subscribers and would also designing products suiting our requirements.

The post PFRDA Orders : Empanelment of Annuity Service Providers (ASPs) under National Pension System for providing annuity services appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.