WBXPress

Change in Monthly Contribution towards New Pension Scheme

Finance

Government of West Bengal
Finance Department
Audit Branch

Memo No. 2522-F(Y) Dated, 26th April, 2019

Memorandum

Recently, the Ministry of Finance, Government of India has notified the change of monthly contribution on the part of the Central Govt. towards NPS from the existing 10% to 14% of the Basic Pay plus DA w.e.f. 01.04.2019 vide a Gazette Notification No. 1/3/3016-PR dated 31.01.2019 while the employees’ own contribution would be 10% of the Basic Pay plus DA.

The State Government in the Finance Department earlier issued guidelines for implementing NPS in respect of AIS Officers borne in the State cadre vide FD’s Notification No. 1069-F(Y), dt. 03.02.2012 and in terms of Para 1(e) of the Notification ibid, the rate of monthly contribution towards NPS was 10% of the Basic Pay plus DA to be paid by the employee and the State Government’s contribution was the same quantum in line with the Ministry of Finance’s previous OM No. 5/7/2003-ECB-PR dated 22.12.2003.

Now in partial modification of Para 1(e) of the FD’s Notification No. 1069-F(Y) dated 03.02.2012, it has been decided that the State Government will make a monthly contribution of 14% of the Basic Pay plus DA. However, the employees’ contribution would remain unchanged i.e. 10% of the Basic Pay plus DA.

It has also been decided that the Director of Treasuries & Accounts, West Bengal being the State Nodal Officer for implementing the NPS will henceforth issue necessary instruction to the DDOs/Treasuries concerned in regard to necessary change in line of GoI Notification on NPS related matter issued from time to time.

Sd/- H.K. Dwivedi
Additional Chief Secretary to the
Government of West Bengal

No. 2522-F dated 26.04.2019, Source

# #