GO.28 CPS The DTA Telangana State Appointed as Nodal Officer for NPS

CPS The DTA Telangana State Appointed as Nodal Officer, Contributory Pension Scheme. The DTA Telangana State Appointed as Nodal Officer for New Pension Scheme.  Director of Treasuries and Accounts, Telangana State, Hyderabad appointed as  “Nodal Officer” for all the issues relating to the New Pension Scheme.

As per GO.No.28, Government of Telangana State has appointed 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.

GOVERNMENT OF TELANGANA STATE
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. CPS The DTA Telangana State Appointed as Nodal Officer

FINANCE (HRM-V) DEPARTMENT
G.O.MS.No. 28. Dated:23.08.2014

Reference:

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

ORDER:
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.

1. 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).
2. 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.
7. 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.
8. 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.

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