The Indian Ministry of Railways has issued a notification (RBE No. 41/2023) informing all zonal railways and production units that railway employees who were recruited before December 22, 2003, can opt for the Railway Services (Pension) Rules, 1993 instead of the National Pension System. The Department of Pension & Pensioners’ Welfare’s instructions dated March 3, 2023, apply to the railways as well. Railway employees who exercise this option will be required to subscribe to the State Railway Provident Fund (SRPF). The notification also directs compliance with instructions issued by the Railway Board’s letter dated September 18, 2020, regarding the accountal of the corpus in the NPS account of the Railway servant.
Railway Employees Recruited Before 2003 Now Eligible for Pension Benefits
RBE No 41/2023
GOVERNMENT OF INDIA (BHARAT SARKAR)
MINISTRY OF RAILWAYS (RAIL MANTRALAY)
(RAILWAY BOARD)
No. D-43/12/2018-F(E)III
New Delhi, dated: 10-03.2023.
The General Managers/Principal Financial Advisers,
All Zonal Railways/Production Units etc.,
DGs of RDSO and NAIR.
Subject: Coverage under Railway Services (Pension) Rules, 1993, in place of National Pension System, of those Railway employees who were recruited against the posts/vacancies advertised/notified for recruitment, on or before 22.12.2003.
A copy of Department of Pension & Pensioners’ Welfare (DoP&PW’s) O.M. No. 57/05/2021-P&PW(B) dated 03rd March, 2023 is enclosed herewith for compliance and guidance. These instructions shall apply mutatis mutandis on the Railways also. Central Civil services (Pension) Rules, 1972 correspond to the Railway Services (Pension) Rules, 1993. The Department of Economic Affairs, Ministry of Finance Notification No. 5/7/2003-ECB & PR, dated 22.12.2003, mentioned in DoP&PW’s O.M. dated 03.03.2023 has been circulated vide this office letter No. F(E)III/2003/PN1/24, dated 31.12.2003.
- Similar to the amendments made in the Central Civil Services (Pension) Rules, 1972, and other connected rules, as mentioned in para 1 of the DoP&PW’s O.M. dated 03.03.2023, the Railway Services (Pension) Rules, 1993 and other connected rules were also amended vide Notification No. F(E)IN/2003/PN1/38 dated 30.12.2003. Further, DoP&PW’s O.M. No. 57/04/2019-P&PVW/(B) dated 17.02.2020 was circulated to all Zonal Railways/PUs vide letter of even number dated 03.03.2020.
- The Railway servants who exercise option in terms of DoP&PW’s O.M. dated 03.03.2023 to switch over to the pension scheme under Railway Services (Pension) Rules 1993, shall be required to subscribe to the State Railway Provident Fund (SRPF). As regards accountal of the corpus in the NPS account of the Railway servant, the instructions issued vide Board’s letter No. 2020/AC-II/21/7, dated 18.09.2020, may be followed.
D.A.: as above
(Sanjay Prashar)
Deputy Director, Finance(Estt.)-III
Railway Board
Source: https://indianrailways.gov.in