The Central Government had introduced the National Pension System (NPS) with effect from January 1, 2004 (except for armed forces i.e. Army, Navy & Air Force). All the employees of Central Autonomous Bodies who have joined on or after the above mentioned date are also mandatorily covered under NPS.
Ministry of Finance, vide Office Memorandum No 1 (2)/E.V./2007 dated June 30, 2009 has stated that these organisations may also be permitted to shift to a defined contribution pension scheme i.e. NPS in respect of employees who have joined before January 01, 2004