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Pension Rules: Big announcement for central government employees on new year, improvement in pension rules

Pension New Rules: The central government has given a big relief to the employees in the new year.




The year 2021 is expected to bring gifts full of allowances for Central Government employees and pensioners. The pension rules have been amended under the new order, which will benefit lakhs of employees in the country. Under the 7th CPC, the central government has reportedly decided to provide ‘disability compensation’ to all its employees. Those who become disabled in the line of duty, but still remain in service, will be eligible to get the benefit of the scheme.

On 1 January, Union Minister Jitendra Singh had said that this change would lead to Central Reserve Police Force (CRPF), Central Industrial Security Force (CISF), Young Central Armed Police Forces (CAPF) personnel including Border Security Force will get a big relief. An earlier provision for disability benefits under the Central Civil Service (CCS) (EOP) rules did not compensate employees who were appointed on 1 January 2004 and were covered under the National Pension System (NPS).

Also Read: Get pension every month to invest in this annuity plan of LIC, know the terms

After the new order was issued by the Department of Pensions in the Ministry of Personnel, now the government employees under NPS will get benefits under Rule (9) of Extraordinary Pension (EOP). The move will provide great relief to the soldiers like CRPF, BSF, CISF, especially the ‘Youth Central Armed Police Forces (CAPF), as it is usually reported in their case due to disability in the performance of duties. This new order will remove a discrepancy in service rules.

Given the difficulty faced by employees, Because the earlier provisions of disability benefits under the Central Civil Service (CCS) (EOP) rules did not provide such compensation to those people. Government employees who were appointed on or after January 1, 2004 and were covered under the National Pension System (NPS). However, with the new order issued by the Department of Pensions in the Ministry of Personnel, employees falling under the NPS will also get benefits under Rule (9) of Extraordinary Pension (EOP).

7th CPC Rules: It is attached to

A 2009 order of the government did not provide such compensation to those government employees who were appointed on or after January 1, 2004 and covered under the National Pension System (NPS), according to a statement issued by the Ministry of Personnel. Had gone. This new move will provide great relief to the Central Armed Police Forces (CAPF) personnel of CRPF, BSF, CISF, etc., as the disability in the performance of duties is usually stated in their case.

7th CPC rule: will remove discrepancy

State government minister Singh said, “To mention that this new order will remove a discrepancy in the service rules, will remove the hardship faced by the employees. Modi government to ease the rules and remove the discriminatory clauses Trying. ” For the personnel.

7th CPC Rule: This is the purpose of making this change

“The ultimate aim of all these new initiatives is to facilitate the survival of government employees, whether they have become superannuation or become pensioners or family pensioners or elder citizens,” the statement said.

According to the new rule, if a government employee becomes incapacitated while performing his duties and this disability is attributed to government service, in that case if he is still retained in service despite the disability, Then he will be given a lump sum compensation. The statement stated that from time to time in the context of the commutation table, arriving at the capitalized value of the disability element.




7th CPC Rule: This rule will work like this

According to the new rule, if a government employee becomes incapacitated while performing his duties and this disability is attributed to government service, in that case if he is still retained in service despite the disability, Then he will be given a lump sum compensation. The statement stated that from time to time in the context of the commutation table, arriving at the capitalized value of the disability element.

4 percent increase in dearness allowance expected

The center expects a 4 percent increase in dearness allowance from this month, meaning more money will be deposited in employees’ salary accounts. Based on the recommendations of the Seventh Central Pay Commission, the increase in DA is likely to be as per the accepted formula.

In March 2020, the Union Cabinet chaired by Prime Minister Narendra Modi approved the issuance of an additional installment of DA of Central Government Employees and Dearness Relief (DR) to pensioners from 1 January 2020. The Finance Ministry had then informed that the basic pay / pension would be increased by 4 percent at the current rate of 17 percent to make up for the price increase. The value of increase in DA and DR will be Rs 12,510.04 crore and Rs 14,595.04 crore respectively for the financial year 2020-21 (for a period of 14 months from January 2020 to February 2021). With this decision, 48.34 lakh central government employees and 65. 26 lakh pensioners will benefit.

The central government is making all efforts to simplify the rules and remove discriminatory clauses. The ultimate aim of all these new initiatives is to provide ease of living for government employees, whether they have become pensioners or family pensioners or elder citizens.

Atal Pension Yojana Atal Pension Yojana: Pension Scheme Providing Secure Future Benefits

The Atal Pension Yojana is administered by the Pension Fund Regulatory and Development Authority. Under this scheme, you can get a pension of Rs 1,000 to Rs 5,000 every month. The premium of this scheme depends on how much pension you need at the time of retirement and how old you are at the time of joining the scheme. Members of this scheme can deposit their premium monthly, quarterly or in six months.

If you join this scheme at the age of 18, then at the age of 60 you will have to contribute Rs 42 for a pension of Rs 1,000 per month. Also, to get a pension of Rs 5,000 per month, you have to deposit only Rs 210 per month till the completion of 60 years. If you are 40 years old, then you have to deposit Rs 291 for a pension of Rs 1,000 and Rs 1,454 for a pension of Rs 5 thousand every month. In FY 2020-21, More than 52 lakh new shareholders are associated with Atal Pension Yojana (APY).




This increased the number of people associated with this social security scheme to 2.75 crore by the end of December. APY is a government guaranteed pension. Under this, three benefits are given to shareholders from the age of 60 years. Under this scheme, pension is guaranteed to the shareholders, equal pension is guaranteed to the wife or husband after the death of the shareholder. Also, there is a provision to return the accumulated amount to the nominee.

 

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