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Thursday, February 20, 2020

Central Government Employee? NPS to Old Pension Scheme switch possible now

Central Government Employee? NPS to Old Pension Scheme switch possible now
There is good news for central government employees whose selection for an appointment was finalized before 1st of January 2004 but who joined service on or after this date. The central government has provided them with a one-time opportunity to get covered under the Central Civil Services (Pension) Rules, 1972 instead of the NPS (National Pension System)
The one time option will only be for those Central Government employees whose selection for the appointment was finalised before 01.01.2004 but who joined Government service on or after 01.01.2004. The OM makes it clear that subject to conditions, the one time option would be available to only those Government employees who were declared successful for recruitment before 01.01.2004, against vacancies pertaining to the period prior to that date.

After the introduction of National Pension System (NPS), all Government employees appointed on or after 01.01.2004 to the posts in the Central Government service (except armed forces) are mandatorily covered under NPS. The Central Civil Services (Pension) Rules, 1972 and other connected rules were also amended and were not applicable to the Government employees appointed to Government service after 31.12.2003.

The Department of Pension & Pensioners' Welfare under the Government of India has issued an Office Memorandum (OM) recently thus giving an option to the impacted central government employees to opt for old pension scheme (OPS) instead of NPS.

Ministry of Personnel, Public Grievances and Pensions said, this order is expected to give relief to several Central Government employees, some of whom were seeking court's intervention to be covered under the old Pension Scheme.

Central Government Employee? NPS to Old Pension Scheme switch possible now
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