NATIONAL PENSION SYSTEM(CPS)-Stoppage of deductions of the last three (03) months prior to the date of superannuation/ retirement, Deductions Under NPS-Stoppage of deductions of the last three (03) months prior to his / her date of superannuation, NPS Instructions to all Treasury Officers / PAOs under their jurisdiction to stop to deduct monthly NPS deductions from the salary of employee
Stop to deduct monthly NPS deductions
All the Treasury Officers / PAOs in the State are informed that Pension Fund Regulatory and Development Authority (Exits and Withdrawals under NPS) Regulations, 2015, laid down clear guidelines with respect to stoppage of last three (03) months NPS deductions by Employer (ODO).
As per the provision of regulation No.37 of the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under NPS) Regulations, 2015, contributions deductions under the National Pension System made by the employers from the salary of a subscriber shall be stopped at least three months prior to his/her date of superannuation, as may be applicable, to ensure that the exit withdrawal of the subscriber is smooth and effective.
The employer shall settle directly the said last three months contributions at their end with the employee concerned.
Therefore, they have directed to advice all the Drawing and Disbursing Officers under their jurisdiction to stop to deduct monthly NPS deductions from the salary of the employee, who comes under NPS. three months prior to the date of superannuation/ retirement.
Further, they are also directed to reject such type of claims, if any received from the Drawing and Disbursing Officers. The Treasury Officer has held responsible for the negligence in this regard.
All the Treasury Officers / PAOs are requested to disseminate this information to all the underlying Drawing and Disbursing Officers by prominently displaying the information in their notice boards as well as by way of any other possible communication.