PENSION FUND REGULATORY
AND DEVELOPMENT AUTHORITY

B-14/A, Chhatrapati Shivaji Bhawan,
Qutub Institutional Area,
Katwaria Sarai, New Delhi-110016
Ph : 011-26517501, 26517503, 26133730
Fax : 011-26517507
Website : www.pfrda.org.in

PFRDA/2020/ 52/REG-PF/18

Date: 10th December, 2020

CIRCULAR

To
CEOs of All Pension Funds

Dear Sir/ Madam,

SUBJECT: Change in Guidelines on aggregate holding of equity shares by a foreign company in Pension Funds as provided under Section 24 of the PFRDA Act, 2013 – Manner of calculation of such aggregate holding of equity shares by a foreign company in a Pension Fund under National Pension System – reg.

Reference is invited to the Circular No. PFRDA/2020/34 /REG-PF/4 dated 13th August, 2020 on Guidelines on aggregate holding of equity shares by a foreign company in Pension Funds as provided under Section 24 of the PFRDA Act, 2013.

2. In a partial modification to the above Circular, it has been decided by the Authority that point (a) under sub-paragraph (ii) of paragraph 6 of the Circular shall be read as under:
   “(a) a banking company /banking companies except foreign banks”
3. Subject to the aforementioned revision, all other terms and conditions as contained in the aforementioned guidelines shall remain unchanged. All Pension funds are called upon to note these changes and ensure necessary compliance.
4. This circular is issued in exercise of powers of the Authority under Section 14 (1) of the PFRDA Act, 2013.
5. The revision shall be effective from the date of this circular.

Yours sincerely,

(A. G. Das)
Executive Director

Source: PFRDA

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PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

CIRCULAR

CIR No.: PFRDA/2020/ 10/SUP-CRA/3

Date: April 17, 2020

To,
All stakeholders under NPS

Subject: Choice of CRA Selection by NPS subscribers

It has been decided that the subscribers under All Citizen Model, who were so far allowed to exercise the choice/ change of CRAs only once in a financial year, will hitherto be allowed to exercise such choice twice in a financial year. Further, for the subscribers who are under employer-employee relationship, the choice of two CRAs can exceed, if their employer chose to change CRA.

Similarly, the Subscribers of All Citizens Model who have already exercised the choice of CRA twice in a financial year, can exercise their choice of CRA even beyond two times, in case they become a member of NPS through their employer viz under Government or Corporate Model.

The statement of transactions of NPS Subscribers generated post change of CRA, would reflect the transaction details performed through the earlier CRA also.

This circular is issued under Section 14 of PFRDA Act 2013 and is placed under circulars in the CRA section of Intermediaries and also under circulars in the Regulatory framework at PFRDA website.

(K.Mohan Gandhi)
General Manager

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The government will soon start selection process for a new chairman of pension fund regulator PFRDA to succeed the present chief, Hemant G Contractor, whose term is slated to end in April.

“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

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Ministry of Personnel, Public Grievances & Pensions

Withdrawal of Pension Facility

03 JAN 2019

Information regarding the number of Central Government employees in the country is not maintained centrally in this Ministry. As per information provided by Department of Expenditure, the total number of Central Government civilian employees, as on 01.03.2016, was 32, 21,183

Total number of Central Government civil pensioners, as on 31.03.2018, is 37, 02,882.

Central Government employees (except Armed Forces personnel) appointed on or after 01.01.2004 are covered under the National Pension System (NPS) notified vide Ministry of Finance (Department of Economic Affair’s) Notification No. 5/7/2003-ECB & PR dated 22.12.2003 and Section 20 of PFRDA Act, 2013. Such employees are, therefore, not covered by the Central Civil Services (Pension) Rule, 1972, which are allocable to Central Government civil employees appointed on or before 31.12.2003.

Under NPS a monthly contribution of 10 percent of basic pay plus dearness allowance is required to be made by the employees and a matching contribution is made by the Government. It has since been decided to increase the Government contribution to 14 percent of basic pay and dearness allowance.

On superannuation/retirement, at least 40% of the accumulated pension wealth of such subscriber is mandatorily utilized for purchase of annuity providing for a monthly or any other periodical pension and the balance of the accumulated pension wealth after such utilization is paid to the subscriber in lump sum.

In the event of death of a Government servant of his discharge from service on account of disability or invalidation on medical grounds, the benefit of Central Civil Services (Pension) Rules, 1972 are available to the Government employees of his family members.

Central Government employees covered under NPS are eligible for the benefit of retirement gratuity and death gratuity on the same terms and conditions as are applicable under Central Civil Services (Pension) Rules, 1972.

NPS employees are also eligible for other post-retirement benefits such as leave encashment, group insurance, medical facility, etc., as are applicable to employees appointed before 01.01.2014.

This information was provided by the Union Minister of State (Independent Charge) Development of North-Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr Jitendra Singh in written reply to a question in Rajya Sabha today.

PIB

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To

Shri Shiva Gopal Mishra,
Secretary, Staff Side,
National Council (JCM)
13, C Ferozshah Road
New Delhi

Sir,

Source: http://ncjcmstaffside.com/2015/dopt-to-hold-a-meeting-of-nc-jcm-meeting-on-29-05-2015/

The post DoPT is ready to hold meeting of NC JCM meeting on 29.05.2015 on merger of DA, 7th CPC report on time, Scrap PFRDA Act appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

1. Merger of DA with pay for all employees w.e.f. 01.01.2014 including Gramin Dak Sewaks and Pensioners.
2. Grant of Interim Relief to all employees including Gramin Dak Sewaks and Pensioners.
3. Inclusion of Gramin Dak Sewaks under the purview of 7th Central Pay Commission
4. Scrap PFRDA Act and grant statutory defined pension to all including those appointed on or after 01.01.2004.
5. Date of effect of 7th CPC recommendation should be 01.01.2014.
6. Regularisation and Revision of wages of casual labourers and contract workers.
7. Removal of 5% condition for compassionate appointment.
8. Fill up all vacant post and creation of New Post wherever justified.
9. Stop Downsizing, Outsourcing, Contractorisation and Privatisation of Government function.
10. Grant productivity Linked Bonus to all without ceiling; Compute bonus as weighted average of PLB for those not covered by PLB agreement.
11. Revise OTA and NDA and implement arbitration awards.
12. Settle all pending anomalies of 5th and 6th Pay Commission.

Source : http://confederationhq.blogspot.in/2014/09/memorandum-to-be-submitted-to-cabinet.html

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