What is the New Pension Policy 2023?

After implementation of National Pension System may changes are made in the NPS to make it beneficial to NPS subscribers.

What is the New Pension Policy 2023 ?

Even after 20 Years of implementation of NPS, many changes and improvements are required to make it more beneficial and reliable system. So the Central Government has set up a committee on 6.4.2023 to review the Pension System for Government Employees.

What are all the new changes made in NPS so far?

Many Benefits at par with CCS (Pension) Rules 1972 have been extended to NPS Employees
1. Gratuity : The benefit of retirement gratuity and death gratuity have been extended to the Central Government employees covered under NPS vide DoPPW O.M. dated 26.08.2016 on the same terms and conditions as are applicable under CCS(Pension) Rules, 1972
2. Family Pension : Benefits under CCS(Pension) Rules, 1972 or CCS(Extraordinary Pension) Rules, 1939 were extended to the Central Government employees covered under NPS vide Department of Pension and Pensioners’ Welfare O.M. dated 05.05.2009 in the event of in-service death of Government servant or his discharge from Government service on account of invalidation or disablement
3. Enhanced Family Pension after death of NPS Employees as per CCS(Pension) Rules 1972
4. CGHS : Ministry of Health and Family Welfare OM No. S.11011/10/2012-CGHS(P)/EHS dated 28.03.2017 – Ministry of Health and Family Welfare issues instruction on extending benefit of CGHS to Government employees covered under NPS,

Is NPS Employee Eligible for Gratuity ?

Yes. NPS employees is now eligible for payment of Gratuity. Provision of Retirement Gratuity and Death Gratuity are extended to NPS Employees under Central Civil Services (Payment of Gratuity under NPS) Rules, 2021

Is NPS to be replaced by OPS?

Now the demand for scrapping New Pension System and restoration of Old Pension Scheme is getting more attention and all state and central government employees are united under the banner of the Joint Forum for Restoration of Old Pension Scheme(NJCA) to fight against NPS. But Govt clarified that there is no proposal to replace NPS by OPS

What is JFROPS ?

JFROPS is a joint forum formed by NJCA to fight for scrapping NPS and restoration of Old Pension Scheme for all State and Central Government Employees. All the Staff Unions and Federations are now united under the banner of the JFROPS to pressurise the Government to scrap NPS

What is the full form of JFROPS ?

The full form of JFROPS is Joint Forum for Restoration of Old Pension Scheme

Is employer contribution to NPS mandatory?

Yes. It is mandatory in Central and State government service, that Govt has to contribute its share to NPS fund for its employees under NPS Rules

What is the rate of Employer Contribution to NPS now ?

With effect from 01.04.2019, NPS Contribution by Government to be made at the rate of 14% of Basic Pay+DA

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