PFRDA Workshop benefits of National Pension System & Pension Funds under NPA architecture

PFRDA Workshop benefits of National Pension System & Pension Funds under NPA architecture

PFRDA conducts the Workshop with Corporates to create an awareness about the features, benefits and the process of joining National Pension System (NPS); Also to create awareness about the role of Pension Funds under NPA architecture;

More than 1.80 crore subscribers join under NPS-Private sector

Pension Fund Regulatory Development Agency (PFRDA) in its endeavor to promote NPS among the corporates have embarked upon conducting NPS Workshops at various locations across the country. In continuation of that exercise, a Corporate Meet was held today in Pune in association with FICCI, Maharashtra State Council and Mahratta Chambers of Commerce, Industry and Agriculture.


More than 100 participants from around 55 corporates attended the workshop. PFRDA officials gave a detailed presentation on NPS and informed the participants about the features, benefits and the process of joining NPS to the employees as well as to the employer. The role of the Pension Funds under NPS architecture and the benefits of long term investment and the optimal return being generated by the Pension Fund following the investment guidelines issued by PFRDA was highlighted.

PFRDA officials also clarified the queries regarding joining of NPS, tax benefits, POPs details, timelines, transfer of superannuation fund to NPS, annuity etc. to the participants.

 The recent developments under NPS - Private Sector (All citizen and Corporate) are listed below:

• Process of Transfer of Superannuation / Recognized Provident Fund to National Pension System.
•  Allowing option to change the investment choice or asset allocation ratio twice in a financial year
• Dispensing of requirement of submission of physical application form in case of subscriber opening account online and e-Signing the document.
• Introduction of Alternative Investment Fund-a separate class of Asset “A”
• Introduction of two new life cycle funds (LC 75 and LC 25)
• Under Tier-I account, minimum contribution requirement in a financial year is reduced from Rs 6,000/- to Rs 1,000/-

 As on 25th November 2017, more than 1.84 crores subscribers have joined under NPS- Private sector (Corporate and All Citizen model) . More than 6.58 lacs employees of 4,027 registered Corporates have joined NPS under NPS Corporate Model, and more than 5.46 lacs subscribers have joined NPS under NPS-All Citizen Model. The overall number of NPS and APY subscribers have crossed 1.80 crore with overall Asset under Management (AUM) of more than 2,15,461 crore. PFRDA's endeavour is to significantly scale-up these segments during the ongoing months.

PIB

Controller General of Accounts launches the upgraded version of Central Pension Accounting Office (CPAO) website www.cpao.nic.in

Controller General of Accounts launches the upgraded version of Central Pension Accounting Office (CPAO) website www.cpao.nic.in.

The Controller General of Accounts, Department of Expenditure, M/o Finance, GOI has launched the upgraded version of Central Pension Accounting Office (CPAO) website www.cpao.nic.in primarily to cater to the needs of central civil pensioners and other stakeholders in the Ministries/Departments and Banks.

The website has been developed in-house by the NIC Wing of CPAO. The CPAO website is now web responsive and can be accessed by the pensioners on the mobile, tablet and other digital devices in a more responsive manner. The website provides a single window for both accessing pension related information and facilitating grievance Redressal of pensioners. By registering on the CPAO website, the pensioners can get the detailed information of their pension processing status and the last 12 payment details. They can also view and download all PPOs (Pension Payment orders) and SSAs (Special seal authorities) issued by CPAO. Apart from this, pensioners can register their grievances on CPAO website and track the status thereon.

The Ministries/Departments and banks have also been provided MIS Reports under their respective logins and their users can access various reports designed as per their needs. This would help them in better pension delivery and faster grievance redressal of pensioners.

PIB

Statement to be made by the Minister in every six months regarding status of implementation of recommendations contained in the Reports of the Department Related Parliamentary Standing Committee on Personnel, Public Grievances and Pensions on Demands for Grants

Statement to be made by the Minister in every six months regarding status of implementation of recommendations contained in the Reports of the Department Related Parliamentary Standing Committee on Personnel, Public Grievances and Pensions on Demands for Grants

REMINDER
IMMEDIATE
PARLIAMENT MATTER

No. 41034/7/2015-Estt.(Res.)
Government of India
Ministry of Personnel, Public Grievances and Pensions
Department of Personnel and Training
Establishment Reservation - I Section

North Block, New Delhi-110 001
Dated November 23, 2017

OFFICE MEMORANDUM

Subject: Statement to be made by the Minister in every six months regarding status of implementation of recommendations contained in the Reports of the Department Related Parliamentary Standing Committee on Personnel, Public Grievances and Pensions on Demands for Grants

The undersigned is directed to refer to this Department's OM of even number dated 23.10.2017 (copy enclosed) on the subject noted above and to say that the requisite information has been received only from the Ministries/Departments listed at Annexure.

2. It is requested that the information sought by the Department Related Parliamentary Standing Committee on Personnel, Public Grievances, Law and Justice on Demands for Grants may be forwarded to this Department by 01.12.2017 positively for onward submission to the Hon'ble Committee.

(G. Srinivasan)
Deputy Secretary

Source: DoPT

Highlights of the Monthly Account of the Government of India upto October 2017

Highlights of the Monthly Account of the Government of India upto October 2017

The Monthly Account of the Government of India upto October 2017 has been consolidated and reports published. Highlights of the same are given below:

The Government of India has received Rs.7,67327 crore (47.9% of corresponding BE 17-18 of Total Receipts) upto October 2017 comprising Rs. 6,33,617 crore Tax Revenues (Net to Centre), Rs. 95,151 crore of Non-Tax Revenues and Rs.38,559 crore of Non-Debt Capital Receipts. Non-Debt Capital Receipts consists of Recovery of Loans (Rs. 8,394 crore) and Disinvestment of PSUs (Rs. 30,165 crore).

Rs.3,37,280 crore has been transferred to the State Governments as Devolution of Share of Taxes by Government of India in this period.

Total Expenditure incurred by Government of India is Rs.12,92,648 crore (60.2% of corresponding BE 17-18), out of which Rs.11,29,853 crore is on Revenue Account and Rs.1,62,795 crore is on Capital Account. Out of the total Revenue Expenditure, Rs.2,57,909 crore is on account of Interest Payments and Rs.1,91,336 crore is on account of Major Subsidies.

PIB

Implementation of Government's decision on the recommendations of the 7th CPC - Fixation of pension of medical officers retired during 01.01.2016 to 30.06.2017

Implementation of Government's decision on the recommendations of the 7th CPC - Fixation of pension of medical officers retired during 01.01.2016 to 30.06.2017

R.B.E. No: 171/2017

GOVERNMENT OF INDIA (BHARAT SARKAR)
MINISTRY OF RAILWAYS (RAIL MANTRALAYA)
(RAILWAY BOARD)

No.2016/F(E)III/1(1)/8

New Delhi, Dated: 20.11.2017

The GM/Principal Financial Advisers,
All Zonal Railways/Production Units,
(As per mailing list)

Sub: Implementation of Government's decision on the recommendations of the 7th CPC - Fixation of pension of medical officers retired during 01.01.2016 to 30.06.2017.

A copy of Department of Pension and Pensioners' welfare (DOP&PW)'s O.M. No. 38/37/16-P&PW (A)(iv) dated 8th November, 2017 on the above subject is enclosed for information and compliance. These instructions shall apply mutatis mutandis on the  Railways also. The Rule 33 of the Central Civil Services (Pension) Rules, 1972 corresponds to Rule 49 of the Railway Services (Pension) Rules, 1993. The Ministry of Finance, Department of Expenditure's O.M. No. 12-2/2016-EIII. A dated 7th July, 2017 reffered to in the enclosed O.M. dated 08.11.2017, has been adopted on Railways vide this office's letter No. PC-V/2017/A/NPA/1 dated 4th August,2017.

(G.Priya Sudarsani)
Joint Director, Finance (Estt),
Railway Board

Copy to Deputy Comptroller and Auditor General of India (Railways), Room No.222, Rail Bhawan, New Delhi (20 spares).

Source: NFIR

7th CPC: Minimum Pay and Fitment Factor Stories suddenly ended in anticlimax

7th CPC: Minimum Pay and Fitment Factor Stories suddenly ended in anticlimax

"There is no scope for them anymore to continue this story and decided to end this up with the note of 'there is no scope for change in Minimum Pay'.

There is a strong reason to come up with the title for this article as 'Minimum Pay and Fitment Factor Stories suddenly ended in anticlimax'. Because many websites kept writing that Minimum Pay will be increased to Rs.21000 in January 2018. As we didn't find any truth in that stories we haven't said anything about this as it may lead the people to have false hope. Instead, we published 4 articles which claimed firmly that there was no such proposal under consideration of Government.
Finally those who cooked up a story entitled 'Govt to Announce Minimum Pay Increase to Rs.21000' and writing about it on day to day basis, have come forward to end this story with a note of No Scope for change in Minimum Pay. Because they clearly know it was a fake news. But some news websites who believed that this cooked up story might be true, started writing numerous article about increasing of minimum pay from Rs.18000 to Rs. 21000 and said "Good news would come after January 2018"

As January 2018 is nearing, people started asking the Leaders of Unions and Associations the following questions. is it true? Is there any proposal as such under consideration of Central government? The NC JCM Staff Side Leaders hesitated to answer this question because they were afraid of that any negative reply will backfire them.

But there was no sign of announcing Minimum Pay increase. The rumour mongers smelled the frustration of Government servants on Minimum Pay increase as it is not going to happen in January 2018 . So they started writing again that Minimum Pay will be increased after April 2018 as Anomaly Committee is going to submit its report to the Government on Minimum Pay issue after January 2018.

Now all the bridges to Minimum wage issue are burnt for them after DoPT has clearly said in its Letter to NCJCM Staff Side that the issue of Minimum Pay Increase and Revising Fitment Factor and Allowances effect date are not anomalies. According to the DOPT Letter No. F.No.11/2/2016-JCA-1(Pt.) dated 30th October, 2017, it is stated that these three important issues are not in accord with the three postulates which, as described in DoPT's 0M. No. 11/2/2016-JCA dated 16th August, 2016 and 20th February, 2017 for treating them as Anomaly.

So Minimum pay and Fitment Factor issue will not be treated as a case of anomaly and it will not be taken up in national Anomaly Committee for discussion.

So there is no scope for them anymore to continue this story and decided to end this up with the note of 'there is no scope for change in Minimum Pay'.

But the Committee which is constituted to Examine the Demand of revising Minimum Pay has not held any meeting to discuss this important issue. And also, it was stated in the DoPT's Letter that Effect date of Allowances should be decided by the Central Government and hence the NC JCM Staff Side should take up this issue to the Government.

So the ways and means for settling these issues are not ruled out yet. Now it is up to the Federations, to what extent they are serious to pursue this issue to get this done either through negotiated settlement or protest.

Pradhan Mantri Awaas Yojana - Gramin Government on course to achieve targets under Rural Housing Programme (PMAY-G)

Pradhan Mantri Awaas Yojana - Gramin Government on course to achieve targets under Rural Housing Programme (PMAY-G)

A record of 10 lakh houses built in a year

Hon'ble Prime Minister launched Pradhan Mantri Awas Yojana (Gramin) on 20th November, 2016 from Agra. A target of completing one crore new houses by 31st March, 2019 was set. Of these, 51 lakh houses are to be completed by 31st March, 2018.

To meet the challenge of assisting 51 lakh Pradhan Mantri Awaas Yojana (Gramin) beneficiaries in construction of their homes by March, 2018, the Ministry of Rural Development, in partnership with the State Governments, has taken many steps, including setting month-wise target for completion of houses. The target for completion of 10 lakh houses by November, 2017 has been achieved on 29th November, 2017, i.e. before the appointed date for completion of 10 lakh houses. It is expected that 15 lakh houses will be completed by 31st December 2017; 25 lakh houses by 31st January, 2018; 35 lakh houses by 28th February, 2018 and 51 lakh houses by 31st March, 2018.

Towards meeting the target of construction of 51 lakh houses by March, 2018, while 56.90 lakh beneficiaries have been sanctioned houses, 51.39 lakh beneficiaries have received 1st instalment, 31.03 lakh beneficiaries have nearly reached roof-cast levels and for 16.05 lakh beneficiaries the house construction is nearing completion. States like Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra, Orissa, Rajasthan, Uttar Pradesh and West Bengal, who have highest number of PMAY-G beneficiaries, are on course for completion of PMAY-G houses within the prescribed time-frame.

The faster completion of quality houses has been assisted by payment of assistance directly into the beneficiary account through IT-DBT platform. To ensure good quality of house construction, Rural Mason Trainings have been organized to facilitate availability of trained masons in the rural areas. Space technology and IT platforms are being used to monitor complete cycle of house construction, right from identification of beneficiary to construction stages of houses to completion and each stage is being geo-tagged. States have taken adequate steps to ensure continuous availability of construction material at reasonable prices so that the pace and quality of construction is not adversely affected.

PMAY-G houses with facilities like toilet, LPG connection, electricity connection, drinking water etc., are changing the countryside at a faster pace. While in some states houses under PMAY-G are coming up in clusters / colonies (generally for landless beneficiaries), at other places they are being constructed on the beneficiary's land. House designs prepared by UNDP-IIT, Delhi or by the concerned states have been made available to beneficiaries to choose the house designs that they like. Bouquet of house designs has resulted in technically sound houses of different designs coming up in rural areas which are a treat to watch.

The progress of PMAY(G) is in public domain and can be seen by any one on awaassoft.nic.in with geo-tagged photographs and complete details of beneficiaries and payments made to them.

PIB

7th CPC : Central Government employees will not get Family Planning Allowances

7th CPC : Central Government employees will not get Family Planning Allowances

GOVERNMENT OF INDIA
MINISTRY OF  FINANCE
RAJYA SABHA
UNSTARRED QUESTION NO-2447
ANSWERED ON-08.08.2017

Doing away with allowances under 7th CPC

2447 .    Shri A. K. Selvaraj

(a) whether the Central Government employees will not get Family Planning Allowances;

(b) whether it is a fact that the diet, haircutting and soap toilet allowances given to select categories of employee have been discontinued; and

c) whether it is also a fact that a raft of grants and allocations made to various sections of Government employees have been done away with or revised as per the recommendations of the Committee on Allowances, if so, the details thereof?

ANSWER

FINANCE MINISTER
(SHRI ARUN JAITLEY)

(a): The 7th Central Pay Commission recommended that Family Planning Allowance should be abolished. The Government has accepted the recommendation with effect from 1st July, 2017.

(b): The 7th Central Pay Commission recommended that Diet Allowance granted to deputationists in Bureau of Immigration should be abolished. The 7th Central Pay Commission (7th CPC) in paras 8.17.22 to 8.17.24 of its report recommended, inter-alia, that Haircutting Allowance and Soap Toilet Allowance admissible to Personnel Below Officer's Rank of Defence Forces, as components of Composite Personal Maintenance Allowance (CPMA), should be increased by 50%. The Government has accepted these recommendations with effect from 1st July, 2017.

(c): The Committee on Allowances was set up in July, 2016, to examine the recommendations of the 7th Central Pay Commission pertaining to allowances.


ENGLISH VERSION  /  HINDI_VERSION

Requesting, for providing the exemption of Rs. 5 lakhs per annum to pension income

Exemption of Pension up to Rs. 5 lakhs per annum from Income Tax: Proposal will be examined - MoS  for Finance.

Shiva Pratap Shukla
D.O. No. 370150/9/2017- TPL
MINISTER OF STATE FOR FINANCE
GOVERNMENT OF INDIA
NEW DELHI-110001

14th November 2017

Dear Dr.Tharoor Ji,

Kindly refer to your D.O. letter No. DO/S1/09/2017/986 dated 26.09.2017 requesting, for providing the exemption of Rs. 5 lakhs per annum to pension income.

I have got the matter examined. Currently, the basic exemption limit for individual taxpayer is Rs, 2, 50,000, However, considering the specific needs of the senior citizens, the basic exemption limit for a senior citizen above 60 year, is fixed at Rs.3,00,000 and for very senior citizen i.e. above 80 years, the same is fixed Rs. 5,00,000. Therefore, a pensioner who is a senior citizen is not required to pay any income-tax if his. total income, including pension., does not exceed Rs. 3 lakhs Similarly, a pensioner who is very senior citizen is not required to pay tax if his total income, including pension, does not exceed Rs. 5, 00.000. However, the suggestions that pension up to Rs. 5 lakhs per annum should be exempt in all cases would require amendment to the existing provisions of the Income-tax Act, 1964.

Accordingly, the proposal would be examined during the exercise for the ensuing Union Budget, 2018 and the outcome would be reflected in the Finance Bill 2018.

With regards
Yours sincerely,
(Shiv Pratap Shukla) 

Source: NFIR

Instructions for processing foreign visits of officers of the Government of India for approval of Screening Committee of Secretaries (SCoS)

Instructions for processing foreign visits of officers of the Government of India for approval of Screening Committee of Secretaries (SCoS)

No. 4(4)/E.Coord/2015

Government of India
Ministry of Finance
Department of Expenditure

 New Delhi, 27th November 2017

Subject: Instructions for processing foreign visits of officers of the Government of India for approval of Screening Committee of Secretaries (SCoS)

Reference is invited to this Department's OM of even number dated 5th January 2016 on the above subject. Para 22 of the ibid OM provides that 'Proposals, complete in all respects, seeking approval of SCoS shall be submitted to Department of Expenditure 15 days prior to departure date of delegation'.

2.It has been observed that Ministries/Departments are not submitting their proposals within the stipulated time, often sending proposals one day prior to the departure of the official (s). While it is understandable that requisite approvals and clearances from different agencies/departments take time, it has been observed that Ministries/Departments have been casual in processing their proposals internally without giving due regard to the time frame stipulated for receiving the proposals in Department of Expenditure and seeking approval of the SCoS. Late receipt of proposals for SCoS approval leads to administrative inconveniences both for the SCoS and Ministries/Departments.

3.Hence, Ministries/Departments are directed to ensure that as far as possible, proposals of foreign visits requiring SCoS approval are received 15 days prior to departure date of the delegation but not later than 5 days before date of departure of the delegation. Proposals not adhering to the time frame are liable to be rejected.

S/d,
(H. Atheli)
Director

Source: DoE