Minutes of the meeting of the Sub - Committee-III to suggest measures for streamlining implementation of the National Pension System (NPS) held on 10.02.2017

Minutes of the meeting of the Sub - Committee-III to suggest measures for streamlining implementation of the National Pension System (NPS) held on 10.02.2017

Airfindia has published the Minutes of the meeting of the Sub - Committee-III

No. 57/1/2016-P&PW(B)
Government of India
Ministry of Personnel, P.G. and Pensions
Department of Pension & Pensioners' Welfare

3rd Floor, Lok Nayak Bhavan
New Delhi, dated the 16th February, 2017

OFFICE MEMORANDUM

Subject: Minutes of the meeting of the Sub - Committee-III to suggest measures for streamlining implementation of the National Pension System (NPS) held on 10.02.2017 -reg.

The minutes of the meeting of the Sub- Committee-III to suggest measures for streamlining implementation of the National Pension System (NPS) held under the Chairmanship of Additional Secretary (Pension) with Staff side of JCM on 10.02.2017 at Lok Nayak Bhawan, New Delhi is hereby forwarded for information and further necessary action.

(S. Chakrabarti)
Under Secretary to the Government of India

Minutes of the meeting of the Sub-Committee-III to suggest measures for streamlining implementation of the National Pension System with employees

Associations held on 10.02.2017 at Lok Nayak Bhawan, New Delhi

A meeting of the Sub-Committee-III to suggest measures for streamlining the implementation of the National Pension System (NPS) was held under the Chairmanship of Ms. Vandana Sharma, Additional Secretary (Pension) with Staff Side of JCM on 10.02.2017 at 3.00 p.m.,at Lok Nayak Bhawan, New Delhi. The following were present:

Official Side

1. Shri Harjit Singh, Director, Deptt. Of Pension & Pensioners Welfare.

2. Shri Sanjiv Kumar, Deputy Secretary, Department of Personnel & Training,

3. Shri Vivek Ashish, Under Secretary, Department of Expenditure,JCM (Staff Side)

4. Shri Shiva Gopal Mishra, Secretary, Staff Side (JCM),

5. Shri M.S. Raja, Member, National Council (JCM), All India Audit & Accounts Association

6. Shri C. Srikumar, General Secretary/HIDEF, Member National Council, JCM

7. Shri Guinan Singh, President, NFIR

8. Shri M. Raghavaiah, Leader(JCM Staff Side) & General Secretary, NFIR

9. Shri K.K. N. Kutty, President, Confederation of CG employees & Workers.

2. Additional Secretary (Pension) welcomed all the participants and briefed the Staff Side of JCM about the various issues allocated to the Sub-Committee-III. She invited suggestions from the participants on these issues.

3. The Staff Side handed over a communication dated 10.2.2017 containing their views on the various issues allocated to the Sub Committees. The Staff Side agreed that there is an urgent need to frame rules on the service matters of the NPS employees. Additional Secretary (Pension) assured the staff side that their views would be duly considered while framing rules in this regard.

4. Staff Side of the JCM emphasized that the Government employees should be excluded from the purview of NPS. In case, it was not possible to exempt the Government employees from the NPS, a minimum pension @ 50% of the last pay drawn or average emoluments of the last 10 months, whichever is more beneficial to the employees (along with dearness relief) may be ensured to all NPS employees on their retirement.

5. The Staff side was informed that in the event of invalidation / disability or death of the NPS employee, Pension / Family Pension as per the rates applicable under CCS (Pension) Rules is available to the NPS employees / their families. As regards the minimum guaranteed pension on retirement of the NPS employees, the views of the Staff Side of JCM would be conveyed to the Committee set up for streamlining implementation of the National Pension System.

6. The meeting ended with a vote of thanks to the chair.

Dispensing with the requirement of submission of physical application form in case of NPS account being opened on Aadhaar verification followed by e-Signature

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

B-14/A, Chhatrapati Shivaji Bhawan Qutab Institutional Area,
Katwaria Sarai, New Delhi-110016
Phone : 011-26517503
Fax: 011-26517507
Website : www.pfrda.org.in

Dispensing with the requirement of submission of physical application form in case of NPS account being opened on Aadhaar verification followed by e-Signature

CIRCULAR

PFRDA/2016/25/PD/1

15 December 2016

To,
All Stakeholders in the National Pension System

Subject: Dispensing with the requirement of submission of physical application form in case of NPS account being opened on Aadhaar verification followed by e-Signature

1. PFRDA vide circular no. PFRDA/2013/18/PDEX/11 dated 24th October 2013 has allowed acceptance of e-KYC as a valid process for KYC verification in addition to the other allowed valid documents of Identity and address for KYC verification.

2. The Electronic Signature or Electronic Authentication Technique and Procedure Rules, 2015 has been notified on 27th January 2015. As per the rule the Electronic Signatures facilitated through eSign -Online Electronic Signature Service is legally valid provided the eSign signature framework is operated under the provisions of Second Schedule of the Information Technology Act and Guidelines issued by the Controller of Certifying Authorities. E-authentication technique using Aadhhar e-KYC services is legally valid authentication.

3. It has now been decided by PFRDA that in case the POPs integrate the eSign-online electronic signature service, within their applications for online account opening for NPS, the requirement of sending the physical application form to the Central Record keeping Agency by the subscribers/Points-of Presence shall be dispensed with.

4. The Points-of-Presence shall be allowed to charge a maximum of Rs.5/- plus service tax and cess thereon per application for the e-Signature service being provided to the subscribers.

5. In case of account opened through eKYC, the Points of presence will send the soft copy of the application form (along with the supporting documents, if any) to the Central Record keeping Agency.

6. The Points-of-Presence shall adhere to the requirement of submission of KYC details of the subscribers to CERSAI.

7. With the application of the eSign facility, a large number of the subscribers having Aadhaar number will be able to open NPS account without any physical document requirement.
This is being issued in the interest of the subscribers under National Pension System.

Yours faithfully,
(Akhilesk Kumar)
Deputy General Manager

Download PFRDA Circular PFRDA/2016/25/PD/1 dated 15.12.2016

NPS – Comparing pension amount (Family Pension or NPS annuity) by Government Nodal Office before processing Family Pension cases on Death/disability of subscriber

NPS – Comparing pension amount (Family Pension or NPS annuity) by Government Nodal Office before processing Family Pension cases on Death/disability of subscriber

CIRCULAR

 PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

8-14/A, Chhatrapati Shivaji Bhawan

Qutab Institutional Area,

Katwaria Sarai, New Delhi-110016

Phone :   011-26517503

Fax: 011-26517507

Website :   www.pfrda.org.in

PFRDA/2016/13/Exit/05

June 22, 2016

To,
NPS Trust, CRA, Pension Funds, Trustee Bank, Govt. Nodal Offices, Annuity Service Providers and other stakeholders

Sub: Comparing pension amount(Family Pension or NPS annuity) by Government Nodal Office before processing Family Pension cases on Death/disability of subscriber

This is with reference to Regulation 6 (e) of the Pension Fund Regulatory and Development Authority (Exits and Withdrawal from National Pension System) Regulation 2015, providing for the treatment of additional benefits provided by the government like Family Pension.   In this regard, the Authority has provided guidelines for adjustment/transfer of· accumulated pension wealth in the subscribers’ account to the government nodal office in the event of the government providing an additional benefit in the nature of family pension to the family members/subscriber upon their request.

However, in order to ensure that such claimants take an informed decision on availing such family pension vis-a-vis the benefits available to them under National Pension System (NPS), it has been decided that the concerned nodal office shall obtain from CRA registered under NPS the information about the likely monthly annuity amount with the accumulated pension wealth in the subscribers account and inform the claimants along with the family pension they are eligible to get.   This is to ensure that the claimants/ family members of the subscriber/subscriber takes an informed decision in the matter of availing the benefits available to him.
The Authority is undertaking steps to provide for an annuity quote calculator on the website of CRA registered under NPS for facilitating the same and, in the interim, such nodal offices can write to CRA atnpsclaimassist@nsdl.co.in to provide the approximate pension per month that can be derived from the purchase of an annuity for the accumulated pension wealth in the subscribers account by  giving  the  PRA  number  and  other  details.    Upon  receipt  of the information   from  CRA  the  nodal  office  can  guide  the claimants appropriately based  on  the annuity  available  under NPS and the monthly  pension  that is available  under  the additional relief by way of family  pension  being  offered  to them.

Regulation  6(e) is to be read in conjunction with Regulation  3  (b) and 3  (c) of the Pension Fund Regulatory and Development  Authority   (Exits  and Withdrawal  from National Pension System) Regulation  201 Sand is applicable  only  if the concerned Central  or State  Government is offering such  additional relief  by way  of family pension  to  its employee.   It may also  be noted  that  the grant  of additional  relief  by way  of family  pension etc.,    is the sole prerogative   of the concerned Central  or State Government  entity and the Authority  has no role to play in this regard.

The clarificatory  guidelines  for  removal  of difficulty  are being  issued  by the Authority  in exercise of its powers  under  Section  14 of the  Pension  Fund Regulatory and Development  Authority  Act, 2013  read  with  Regulation 39 of  the  PFRDA (Exits and Withdrawals from National Pension System) Regulations, 2015.

(Venkateswarlu Peri)

General Manager

Download PFRDA Circular PFRDA/2016/13/Exit/05 dated 22.06.2016