Conference on Implementation of NPS by Central Government
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
PRESS RELEASE
Conference on Implementation of National Pension System by Central Government
A conference on implementation of National Pension System by Central
Government Ministries/Departments and CABs was organized by PFRDA on
21st December, 2017 at New Delhi. The prime objective was to provide a
forum to all Central Government Ministries/Departments and Central
Autonomous Bodies (CABs), where the progress in the implementation of
NPS with respect to compliance of timelines in various NPS related
activities could be brought to the fore and a way forward could be
provided. Officials from most of the Ministries/Departments and CABs
attended the conference.
Dr. Badri Singh Bhandari, Whole Time Member (Economics) in his opening
remarks emphasised the need for discipline in submission of subscriber
registration forms and remittance of the subscriber contribution. He
stressed on maintaining discipline of timely remittance of subscriber
contribution and reiterated about the OM issued by Department of
Expenditure in September, 2008 regarding timelines to be followed by
Civil Ministries/departments for registration of new employees, upload
of SCFs and remittance of the NPS contributions and the OM issued in
July, 2011 on oversight and monitoring mechanism. He also touched upon
the need of resolving pending grievances and withdrawals on priority by
the nodal officers. He also highlighted the responsibility of nodal
officers handling NPS and advised that they should be aware of the
product & process in detail which shall reduce grievances.
Chairman, PFRDA, Sh. Hemant Contractor, emphasized the fact that NPS,
being a Contrbutory scheme, was different from the earlier pension
system in the government, which was a formula based PAYG (Pay As You Go)
scheme. In NPS, pension was dependent on various factors, such as
period of stay in the scheme, contribution level, returns on investments
etc. Govt. offices, subscribers and
PFRDA all had to work in tandem to ensure that NPS works efficiently and
pensions are served effectively. PFRDA devotes considerable endeavour
in educating subscribers in handling their pension accounts, through a
dedicated website, Pension Sanchay, trainings arranged etc.
Ms. Soma Roy Burman, Additional Comptroller General of Accounts, Govt.
of India in her address advised participating Central
Ministries/Departments and CABs to monitor performance of the NPS
implementation with respect to timely completion of NPS related
activities so that fresh lodgement of grievances can be reduced. She
also suggested for revisiting the role and responsibilities of various
stake holders especially of FAs and NPS implementation Committee in
current context of challenges in implementing NPS.
Dr. Madanesh Mishra, Joint Secretary, Department of Financial Services
stressed to all participants on the need of becoming sensitive and
responsible towards employees currently covered under NPS in order to
protect their interest, while monitoring various NPS related activities.
He also stressed upon the role which can be played by the PrAOs, CCAs
and FAs of the respective Ministries in
streamlining NPS operations.
Quite a few presentations were made by various stakeholders under NPS
for the benefit of the participants. While presenting the Vote of Thanks
Shri Ashish Kumar, GM mentioned that PFRDA is periodically holding
Review meetings/ Video conferences also with the PrAOs and expects
significant improvement from the present state of affairs.
Place: New Delhi
Date: 21.12.2017
Authority: http://www.pfrda.org.in/