NPS cancel, OPS restart: DCM DK Shivakumar big announcement

As promised in the election manifesto of the party to government employees, Karnataka DCM DK Shivakumar said will take steps to cancel the National Pension System and re-implement the old pension scheme. NPS cancel, OPS restart: DK Shivakumar big announcement.

He spoke to media after receiving the request from the State Government Employees Association President Shadakshari CS. State government employees requested to DCM the previous government had formed a committee to review the NPS cancellation, committee should be reviewed that report soon that report or the government should take a decision on its own.

Actions should be taken to benefit all government employees recruited after 2006 and their dependent families. It was requested that the 7th Pay Commission report should be received soon and the salary and allowance should be revised, responding to this, D.K. Shivakumar as we promised in manifesto we will cancel NPS and Re-implement old pension scheme.

A New Pension Scheme (Contribution based Pension Scheme) now called National Pension System (NPS), was introduced for Central Government employees vide Ministry of Finance (Department of Economic Affairs) Notification No. 5/7/2003- ECB & PR dated 22nd December, 2003.

NPS was made mandatory for all new recruits to the Central Government service (except the armed forces) from 1st January, 2004. After the enactment of the PFRDA Act, 2013, as per Section 20 of the Act, the pension scheme notified on 22.12.2003 has become the National Pension System under the Act.

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NPS is now regulated under PFRDA Act, 2013 and regulation framed thereunder by Department of Financial Services and PFRDA With the introduction of NPS w.e.f. 01.01.2004, amendments were made on 30.12.2003 to Central Civil Services (Pension) Rules, 1972, Central Civil Service (Commutation of Pension) Rules, Central Civil Services (Extraordinary Pension) Rules, General Provident Fund Rules and Contributory Provident Fund Rules to the effect that the benefits under these rules would not be applicable to the Government employees appointed on or after 1.1.2004 and covered by NPS.

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