Pension Adalat through video conferencing, objectives of launching NPS? Lok Sabha QA
Government of India
Ministry of Finance
Department of Expenditure
O/o Controller General of Accounts
Central Pension Accounting Office
Bhikaji Cama Place, Trikoot-II,
New Delhi – 110066
UN-STARRED QUESTION No. 1922
TO BE ANSWERED ON MONDAY, 13th MARCH, 2023
PENSION ADALAT ORGANISED BY CPAO
1922 SHRI SUBRAT PATHAK:
SHRI RAVINDRA KUSHWAHA:
SHRI RAVI KISHAN
Will the Minister of Finance be pleased to state:
(a) Whether the Central Pension Accounting Office (CPAO) is going to organize a ‘Pension Adalat’ through video conferencing;
(b) If so, the details thereof along with the aims and the objectives thereof;
(c) the details of issues/matters likely to be sorted out in the said Pension Adalat;
(d) the main objectives of launching National Pension Scheme (NPS) along the number’ of persons enrolled under the scheme its inception, State/UT wise; and
(e) whether the Government achieved the objective of launching NPS and if so, the details thereof and if not, the corrective measures taken/being taken by the Government in this regard?
MINISTER IN THE MINISTRY OF FINANCE
(SMT. NIRMALA SITHARAMAN)
(a) to (e): A statement is placed on the Table of the House
Statement referred to in reply to Lok Sabha Un-Starred Question No. 1922 for answer on 13th March, 2023 raised by Hon’ble Members of Parliament SHRI SUBRAT PATHAK, SHRI RAVINDRA KUSHWAHA, SHRI RAVI KISHAN regarding ‘PENSION ADALAT ORGANISED BY CPAO’
(a) & (b) Central Pension Accounting Office (CPAO) does organize Pension Adalat periodically, last Pension Adalat was organized by CPAO through video conferencing on 16th March, 2022.
The aims and objective of this ‘Pension Adalat’ are to facilitate prompt and quick redressal of the grievances of the pensioners/family pensioners.
(c) The details of issues/matters taken up to resolve in the Pension Adalats relate to payment of commutation value, payment of additional pension due, payment of arrear of pension due to revision & issues related to life certificate submission.
(d) The National Pension System (NPS) was introduced by the Government of lndia to replace the defined benefit pension system by defined contribution pension scheme in order to provide old age income security and to channelize the small savings into productive sectors of the economy through prudential investments. NPS was made mandatory for all new recruits to the Central Government service from 1st January, 2004, (except the armed forces in the first stage) and has also been rolled out for all citizens with effect from 1st May, 2009, on voluntary basis.
The number of persons enrolled under NPS as on 28.02.2023, since its inception, State/UT-wise is at Annexure A.
(e) Government of India has taken a number of steps for streamlining NPS for Central Government employees. These include enhancement of Government’s contribution from the earlier 10% of Pay + DA to 14% of Pay + DA, freedom of choice for selection of Pension Funds and pattern of investment to subscribers, payment of compensation for non-deposit or delayed deposit of NPS contributions for any period during 2004-2012, tax exemption under section 80C of the Income Tax Act, 1961 and increase in tax exemption limit for lump sum withdrawal on exit from earlier 40% to 60% of the amount due, making the entire withdrawal exempt from income tax.