Proposal for alternative pension scheme in lieu of the existing CPF Scheme

Proposal for alternative pension scheme in lieu of the existing CPF Scheme

F.No.3-1/2018-NVS(Admn.)/4528

Dated : 06.12.2018

The Deputy Commissioner
Navodaya Vidyalaya Samiti
All Regional Offices

Sub: Proposal for alternative pension scheme in lieu of the existing CPF Scheme

Sir,

Proposal for alternative pension scheme in lieu of existing CPF scheme is under consideration of the Ministry. It has been intimated by the Ministry that in the context of the feasibility of extending the benefits of the GPF-cum-Pension Scheme, 1972 not being there, one of the options would be to explore the possibility of having an annuity based alternative pension scheme in lieu of the existing CPF scheme. It has been desired that a comprehensive proposal based on willingness of the eligible employee to opt for the alternative scheme i.e. annuity based pensionary benefits in lieu of existing scheme may be submitted.

Accordingly, you are requested to submit the consent of employees on shifting form existing scheme to annuity based pensionary scheme.

In this regard, you are, therefore, requested to kindly obtain willingness of the eligible employees who have joined the services before 1.1.2004 (including those who have retired) to opt for the alternative scheme in lieu of the existing CPF scheme.

The consolidated data in respect of RC and J NVs may be submitted to this office latest by 30.12.2018.

This may kindly be treated as most urgent.

This has the approval of Commissioner, NVS.

Yours faithfully,
S/d,
(Dr. Honnareddy N.)
Joint Commissioner (Admn.)

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