Payment of Pension to NPS Subscribers under CCS (Implementation of National Pension System) Rules 2021

CPAO has issued OM regrading Payment of Pension to NPS Subscribers to be made under CCS (Implementation of National Pension System) Rules 2021

Payment of Pension to NPS Subscribers

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF EXPENDITURE
CENTRAL PENSION ACCOUNTING OFFICE
TRIKOOT-II, BHIKAJI CAMA PLACE,
NEW DELHI-110066

CPAO/IT&Tech/NPS to OPS/22 Vol-V/2023-24/12612/147

28.11.2023

OFFICE MEMORANDUM

Sub:- Payment of Pension/Family Pension in respect of NPS subscribers as per Department of Pension and Pensioners’ Welfare Notification dated 30th March 2021 – reg.

Attention is invited to Department of Pension and Pensioner’s Welfare (DoP&PW) Gazette Notification dated 30th March, 2021 wherein the Central Civil Services (Implementation of National Pension System) Rules, 2021 came into force. The payment of pension/family pension to the pensioners/family pensioners covered under the National Pension System has been regularized through this notification. Therefore, the payment of pension in these cases will be made through the concerned CPPCs of Authorized Banks as OPS.

2.In this regard, CPAO has upgraded its system and completed all the technical formalities and stands ready to process NPS pension/family pension cases as OPS and allot PPO Number without N series.

3.All the Pr. CCAs/CCAs/CAs (with independent charge)/AGs are requested to direct PAOs under their control to go through the above-mentioned Gazette Notification and subsequent orders in this regard issued by DoP&PW, O/o CGA and CPAO and act accordingly.

4. This issues with the approval of Chief Controller (Pensions) (Lez

(Ajay Chaudhary)
Sr. Accounts Officer (IT & Tech)

View the Order pdf

Provisions of CCS (Implementation of National Pension System) Rules 2021

The pension to be paid to NPS subscribers under the CCS (Implementation of National Pension System) Rules 2021 depends on several factors, including:

Options exercised by the subscriber:

• Option 1: Avail benefits under the National Pension System (NPS)
• Option 2: Avail benefits under the Central Civil Service (Pension) Rules, 1972 (CCS(P) Rules) or the Central Civil Service (Extraordinary Pension) Rules (CCS(EOP) Rules)

Type of exit from service:

1. Retirement on superannuation
2. Retirement on completion of twenty years’ regular service
3. Retirement under rule 56 of fundamental rules or under the special voluntary retirement scheme
4. Resignation from Government service
5. Absorption in or under a corporation, company, or body
6. Retirement on invalidation
7. Boarding out from service on account of disablement
8. Compulsory retirement or dismissal or removal from Government service
9. Death

Amount of accumulated pension corpus (APC):

• This is the total amount accumulated in the subscriber’s NPS account during his or her service period.
• It depends on the contributions made by the subscriber and the government, as well as the investment returns earned on those contributions.

Choice of annuity option:

• The subscriber can choose to receive the APC in the form of a monthly annuity, a lump sum payment, or a combination of both.