NPS

New Pension System (NPS) for all Citizens was introduced by GOI and managed by the Pension Fund Regulatory and Development Authority (PFRDA), the regulator of pension fund in our country, to secure the old age income by way of giving an annuity i.e. pension, once the subscriber(s) attains the age of 60.

Facility of Changing Pension Fund Manager/ Asset-Equity Ratio

Extension of facility to the NPS subscribers of the State to change the Pension Fund Manager and also the Asset-Equity ratio (Investment Pattern) of the subscriptions from the Default combination

Change in Monthly Contribution towards New Pension Scheme

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.

NPS for State Govt. Employees on Deputation

Implementation of the New Pension Scheme for the Central Govt. employees (other than AIS Officers) and State Govt. employees of other States working on deputation to this Govt.

Implementation of New Pension Scheme in West Bengal

NPS shall be mandatory for all new recruits of the All India Services [AIS], who have joined on or after 01.01.2004 and have been borne on West Bengal cadre.