Con­fer­ence on NPS for Cen­tral Pub­lic Sec­tor En­ter­prises or­gan­ised in the na­tional cap­i­tal by PFRDA to fa­cil­i­tate the CPSEs to im­ple­ment NPS for their em­ploy­ees; To ex­pand NPS across all the sec­tors in the coun­try in af­ford­able and sus­tain­able man­ner

Business Sphere - - MINISTRY OF FINANCE - By Our Cor­re­spon­dent

Pen­sion Fund Reg­u­la­tory and De­vel­op­ment Author­ity (PFRDA) or­gan­ised a con­fer­ence on Na­tional Pen­sion Sys­tem (NPS) for Cen­tral Pub­lic Sec­tor En­ter­prises (CPSEs) at the In­dia Habi­tat Cen­tre (IHC), New Delhi with the ob­jec­tive of in­form­ing CPSEs ben­e­fits and fea­tures of NPS and of ad­dress­ing their queries on NPS. Based on the rec­om­men­da­tion of the 3rd Pay Re­vi­sion Com­mit­tee, the Depart­ment of PSE no­ti­fied dis­pens­ing with the con­di­tion of min­i­mum 15 years of ser­vice and su­per­an­nu­a­tion from CPSEs to avail the pen­sion ben­e­fit im­ple­mented by CPSEs. Sep­a­rately, the Gov­ern­ment has also amended the In­come Tax Act pro­vid­ing for tax free mi­gra­tion of su­per­an­nu­a­tion funds to NPS. This pro­vi­sion will fa­cil­i­tate the CPSEs to im­ple­ment NPS for their em­ploy­ees. The to­tal em­ployee strength in CPSEs stood at 12.91 lakh (ex­clud­ing con­tract work­ers) in 201415. The Con­fer­ence saw an ac­tive par­tic­i­pa­tion of more than 55 CPSEs with around 150 par­tic­i­pants. In his In­au­gu­ral Ad­dress, Dr. Badri S. Bhan­dari, Whole Time Member, PFRDA wel­comed the par­tic­i­pants and ex­pressed the en­deavor of PFRDA to ex­pand NPS across all the sec­tors in the coun­try in af­ford­able and sus­tain­able man­ner. He ex­plained the ben­e­fits of NPS and com­mu­ni­cated the re­turns gen­er­ated by Pen­sion

He­mant G. Con­trac­tor, Chair­man, PFRDA

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