Defined Pension for NPS covered Employees – Staff Side JCM seeks relief
Guaranteed Pension / Family Pension for NPS Employees – Staff Side JCM seeks relief to be given to the staff covered under NPS
Shiva Gopal Mishra
National Council (Staff Side)
Joint Consultative Machinery
Dated: May 17, 2018
The Cabinet Seretary,
(Government of India),
Sub: New Pension System (NPS)
As had been discussed with you previously, I met the Secretary (Pension), Government of India, who told me that, he had sent the recommendations to the Secretary (Financial Institution), Government of India, and henceforth whatever is required would be done by his department only.
Since this issue is of utmost importance, particularly to younger blood recruited after 01.01.2004 and they are in quite anguish, we hope, the staff covered under NPS must be given some relief, and as has been discussed many a times, the Government of India must provide Guaranteed Pension/Family Pension Scheme where at least they should be able to draw 50% of their wages at the last pay drawn.
It has been observed that in all the countries where such scheme is in prevalent, the government is paying much more contribution, and in case of any market failure the same is covered by different government Social Security Schemes. The demand of the NC/JCM has always been to restore the “Defined Pension/Family Pension Scheme”.
We hope that, the government will consider the demand of the NC/JCM (Staff Side) and relief will be given to the staff covered under NPS.