TS: G.O.MS.No. 28. Dated:23.08.2014 TS: Contributory Pension Scheme – Appointment of Director of Treasuries and Accounts, Telangana State, Hyderabad as “Nodal Officer” for all the issues relating to the New Pension Scheme –Orders

GOVERNMENT OF TELANGANA  STATE ABSTRACT

PENSION  –  Contributory  Pension Scheme  – Appointment of Director  of  Treasuries  and  Accounts,    Telangana State,  Hyderabad   as   “Nodal  Officer”  for all the  issues  relating  to the New Pension Scheme  –Orders – Issued

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FINANCE  (HRM-V) DEPARTMENT

TS: G.O.MS.No. 28. Dated:23.08.2014 TS: Contributory  Pension Scheme  – Appointment of Director  of  Treasuries  and  Accounts,    Telangana State,  Hyderabad   as   “Nodal  Officer”  for all the  issues  relating  to the New Pension Scheme  –Orders 

Read  the following:-

1.  G.O.Ms.No.653, Finance &  Plg. (FW:Pen.I)  Department, dated 22.04.2004.

2.  G.O.Ms.No.654, Finance  &  Plg. (FW:Pen.I)  Department, dated 22.04.2004.

3.  G.O.Ms.No.655 Finance &  Plg. (FW:Pen.I)  Department, dated 22.04.2004

O R D  E  R:

             Government  of  India introduced  a New  Pension Scheme  (NPS) (i.e.,)  Contributory  Pension  Scheme  in the year  2003.  The composite State Government of Andhra  Pradesh adopted the  New Pension System  (NPS)  i.e.,  CPS  replacing  the  existing  Pension Scheme to its  employees who joined  on  or  after 01.09.2004 with effect  from  01.09.2004  FN  in  the references  1st  to  3rd   (G.O.Ms.No. 653,  654 and  655  OF  Finance  Department  Govt.  of  AP  dt. 22.09.2004.) read  above.

      ⏩ 2. The  scheme  of  Contributory Pension  Scheme  provides  for deduction of  10%  of  pay  and  DA  of  each  employees  from  his monthly  salary  and  the  Government  contributes  equal amount.  Both the amounts, put  together  are transferred  to  CPS accounts of the employees  (PRAN), which are  managed  by  Pension Fund  Managers nominated by  the Fund  Regulatory and  Development Authority (PFRDA).  On retirement  of  the Government  Employee, 60%  fund  is paid  to  individual  and the  rest  of  40%  is  converted into  annuity fund facilitating  the retired  employee to  get  regular monthly pension.

3. The  Deputy  General  Manager,  PFRDA,  Ministry  of  Finance, Delhi have  suggested that  since Telangana  state has come  into existence  from  02nd  of  June  2014,  it  should  be  required  to  issue  a fresh gazette  notification  with  retrospective  effect  (based  on  earlier notification  as  issued  by  Andhra  Pradesh)  and  approach  NPS Trust and  CRA for  agreements.

       ⏩ 4. The Director  of  Treasuries  and Accounts  Telangana  State  has stated that the PFRDA has  been  informed  by his  office vide  letter dt.19.06.2014,  the state Government  of  Telangana have  not made any  changes  relating  to  the  Contributory  pension Scheme  and  it  is  a part  and parcel of  Gazette notification  issued by  composite  state, DTA,  AP, Hyderabad  and the situation  of issuing a  fresh  Gazette notification  specially  for  adopting  the  NPS  to  its  employees  may  not arise.

      ⏩ 5. The  PFDRA has  also  advised  the Government  of  Telangana State to initiate dialogue  with  NSDL  and NPS Trust for  completion  of formalities  on  priority  basis, so that  NPS  implementation  can  be smoothly  effected.

         ⏩ 6. Government of Telangana State  have  not  made  any  changes relating  to  the  Contributory  pension Scheme  to  their employees  and it  is  a part  and  parcel  of  Gazette  notification  issued  by  composite state. However  the agreement  was entered in  the  composite  state.   Hence, a fresh  agreement  may have  to  be  entered  by  the Government  of  Telangana  State  as  requested  by  the  DTA.   In  the composite State  of A.P,  the  DTA, A.P,  Hyderabad  acted  as  a  nodal officer for  all the  issues  relating  to  NPS. 

      ⏩ 7. Government,  therefore,  after careful  examination  of  the matter,  hereby  appoint the Director  of Treasuries  and  Accounts Telangana State,  Hyderabad  as the nodal officer  for  all  the  issues relating  to the  NPS and  permit  him to  enter into  an agreement in that regard  with NSDL  and  NPS Trust.

(BY ORDER  AND IN  THE  NAME  OF  GOVERNER  OF  TELANGANA) 

   N.SIVA  SANKAR

SECRETARY TO GOVERNMENT

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