27 | 06 | 2017
National Pension System PDF Print E-mail
       
 State Nodal Officer  0471-2518762   Under Secretary 0471-2305811    NPS Cell 0471-2517488
email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it SNO Reg.No: 3101092 
                                                       LATEST UPDATES                                                                          

  • Government of Kerala is organizing NPS Service Week during 1-6 February 2016 with an objective of awareness building and improved information dissemination.Subscribers can approach treasury office concerned/nodal office in the case of SABs or PSUs/LSGIs for any kind of service with regard to NPS including clearing doubts.All subscribers are requested to make use of the opportunity. For further enquiry please contact Finance (NPS Cell) at 0471-2737901,7902.
 INTRODUCTION
         Government of India  have introduced a new restructured defined contributory pension system, namely ‘New Pension Scheme’ for its employees (except Armed Forces) recruited on or after 01.01.2004 replacing existing system of defined pension scheme vide Notification  F. No.5/7/2003-ECB&PR dated 22/12/20003 Department of  Economic affairs, Ministry of  Finance, Government of India. Accordingly, the scheme was made applicable to All India Service (AIS) officers recruited to Kerala Cadre on or after 01.01.2004. As per GO (P) No.20/2013/Fin dated 07.01.2013, State Government adopted National Pension System (NPS) and implemented for all appointments made on or after 01.04.2013
 WORKING OF THE SYSTEM
          The System is working on a defined contribution basis and has two tiers viz.,Tier- I and Tier - II. Contribution to Tier I is mandatory where as Tier II is optional and at the discretion of the employee. The employee shall make a contribution of 10% of his/her Basic Pay and Dearness Allowance to Tier I. The Government will also make a matching contribution. The entire amount including returns from investment will be kept in Tier I account. The pension funds of employees will be managed by Pension Fund Managers (PFMs) nominated by the Pension Fund Regulatory and Development Authority (PFRDA) and records will be maintained by National Securities Depository Limited (NSDL) that functions as the Central Record Keeping Agency (CRA). At exit, it would be mandatory for the employee to invest 40% of his/her pension wealth to purchase an annuity from Annuity Service Providers (ASPs) which will provide pension for life time of the employee.
MANAGEMENT
         The rules and regulations for the management of NPS implemented in the State will be governed by directions /rules /circulars / orders etc issued by Government of India/State Government/PFRDA/NSDL from time to time. In order to facilitate and monitor all the NPS related activities in the State, Additional Secretary (Pension) has been designated as State Nodal Officer (SNO). The Finance (NPS Cell) Department is the authority dealing with the subject of National Pension System in the State.
 IMPORTANT GOVERNMENT ORDERS
GO(P) No.303/2009/Fin Dated 25/07/2009      
GO(P) No.298/2010/Fin Dated  24/05/2010
GO(P) No.81/2012/Fin Dated  02/02/2012GO(P) No.441/2012/Fin Dated  08/08/2012
GO(P) No.20/2013/Fin Dated  07/01/2013GO(P) No.149/2013/Fin Dated  03/04/2013
GO(P) No.208/2013/Fin Dated  07/05/2013GO(P) No.209/2013/Fin Dated  07/05/2013
GO(P) No.408/2013/Fin Dated  27/08/2013GO(P) No.495/2013/Fin Dated  28/09/2013
GO(P )No.496/2013/Fin Dated  28/09/2013GO(P) No.622/2013/Fin Dated  19/12/2013
GO(P) No 81/2014/Fin Dated   24/02/2014GO(Ms) No 135/2014/Fin Dated 08/04/2014
GO(P) No 152/2014/Fin Dated 29/04/2014GO(P) No 210/2014/Fin Dated 05/06/2014
GO(P) No 279/2014/Fin Dated 14/07/2014GO(P) No 398/2014/Fin Dated 19/09/2014
GO(P)No 440/2014/Fin Dated 13/10/2014GO(P)No 458/2014/Fin Dated 20/10/2014
GO(P)No 465/2014/Fin Dated 27/10/2014GO(P)No 488/2014/Fin Dated 11/11/2014
GO(P)No 516/2014/Fin Dated 24/11/2014  GO(P)No 25/2015/Fin  Dated  14/01/2015

GO(P) No 96/2015/Fin  dated 24/02/2015

GO(P) No 226/2015/Fin Dated 12/06/2015
GO(P) No 126/2016/Fin  dated 31/08/2016
GO(Ms) No 353/2016/Fin  dated 01/09/2016
  IMPORTANT CIRCULARS
Circular No 68/2011/Fin Dated 12/10/2011                 
Circular No 103/2013/Fin Dated 19/12/2013
Circular No 07/2014/Fin  Dated  06/02/2014Circular No 19/2014/Fin Dated 25/02/2014
Circular No 24/2014/Fin  Dated 14/03/2014Circular No 49/2014/Fin  Dated 27/05/2014
Circular No 51/2014/Fin  Dated 29/05/2014Circular No 91/2014/Fin  Dated 13/10/2014
Circular No 106/2014/Fin Dated 16/12/2014