Important message for employees retiring within the next six months

The Department of Pension and Pensioners Welfare is organizing a Pre-retirement counselling workshop on 25th August, 2015 from 2.00 PM to 5.00 PM in the Lecture Room-I, India International Centre (Annexe) 40, Max Muller Marg, New Delhi-110003.

The employees of Government of India retiring within the next six months and who have not attended the workshop yet are hereby informed that they may attend the workshop. Confirmation with Name, Ministry & Phone No. may be sent at the email address mkumar.mol@nic.in.

The persons desirous of attending the workshop are also requested to bring their PAN and Aadhar No. A write-up on the Commendable works done by the retiring employee during his entire service is also required to upload the same on ‘ANUBHAV’ on website persmin.nic.in/pension.asp

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US (Sankalp)

Department of Pension & Pensioners’ Welfare

Phone No.24641627

Authority: http://pensionersportal.gov.in/

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Maximum limit of Death-cum-retirement Gratuity increased to Rs.7 lakhs for all the pensioners/Family pensioners who retired/died on or after 1st January, 2006.

Recently, Maharashtra Government has pass a resolution to increase maximum limit of Death-cum-retirement Gratuity increased to Rs.7 lakhs for all the pensioners/Family pensioners who retired/died on or after 1st January, 2006 on 04th Feb., 2015 which is as under:

Government of Maharashtra

Finance Department

Government Resolution No.: Senive-2015/ CR 01/SER-4

Hutatma Rajguru Chowk, Madam Cama Road,

Mantralaya, Mumbai-400 032.

Date: 4th February, 2015.

Read -
1. Government Resolution No.: Senive-1009/CR.31/SER-4, dated 05th May, 2009.
2. Government Resolution No.: Senive-1009/CR.69/SER-4, dated 21st August, 2009.

Resolution:

The Government is pleased to increase the maximum limit of Death cum retirement gratuity to Rs. 7 lakhs to all the eligible State Government pensioners/ family pensioners who retired /died on or after 1st January, 2006, pursuant to the decision of the Hon. Supreme Court dt. 30.01.2013 in Civil Appeal 908/2013 arising out of S.L.P.3700/2012. The Government Resolution dated 21st August, 2009 referred to above is hereby cancelled.

2. Accordingly, all the eligible pensioners/ family pensioners who retired/died on or after 1st January, 2006 will be paid at one go, all the amounts due to them.

3. As per Rule 129-A(5)(b) of Maharashtra Civil Services (Pension) Rules, 1982, prepared in exercise with the powers conferred by the proviso to Article 309 of the Constitution of India, interest on the arrears of gratuity is not admissible.

4. Government is also pleased to direct that above decision shall mutatis mutandis, apply to all those eligible pensioners / family pensioners of Recognized and Aided Educational Institutions, Non-Agricultural Universities and Affiliated Non-Government Colleges and Agricultural Universities to whom the Pension scheme is made applicable.

5. In exercise of the powers conferred by the proviso to Section 248 of the Maharashtra Zilla Parishads and Panchayat Samities Act, 1961 (Mah. V of 1962) and of all the other powers enabling it in that behalf, Government is further pleased to decide that the above decision shall apply to the pensioners including family pensioners of Zilla Parishads.

This Government resolution of Maharashtra Government is available at the website www.maharashtra.gov.in. Reference no. for this is 201502031504518105. This order has been signed digitally.

By order and in the name of the Governor of Maharashtra.

Radhika Rastogi

Secretary (Accounts and Treasuries)

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Central Government invites suggestions from pensioners, Pensioners Associations, Ministries Departments, Banks etc.

Central Government has issued a notice to invite suggestions for promoting welfare of Pensioners’/Family Pensioners drawing pension / family pension, stakeholders, pensioners, Pensioners Associations/Ministries/ Departments/Banks etc. from Central Government.  The Office Notice issued by the Department of Pension and Pensioners Welfare on 18th Nov., 2014, specially for improving the functioning of the Department and welfare of pensioners and also simplifying rules and procedures which is as under :

No.A/5/2014-P&PW(D)
Government of India
Ministry of Personnel, Public Grievances & Pensions
(Department of Pension & Pensioners’ Welfare)

3rd Floor, Lok Nayak Bhawan
New Delhi-110 003.
Dated the 18th November, 2014

NOTICE

Subject: Suggestion for promoting welfare of Pensioners’/Family Pensioners drawing pension / family pension from Central Government.

In accordance with Government of India “Allocation of Business” Rules, Department of Pension & Pensioners’ Welfare is responsible for policy and coordination including those relating to welfare of Central Government pensioners.

2. Government continues to take various measures for welfare of pensioners and for simplifying rules and procedures. With a view to involve various stakeholders viz pensioners, Pensioners Associations/ Ministries/ Departments/ Banks etc. in the process, it has been decided to invite suggestions in this regard from all stakeholders.

3. It is requested that suitable suggestions, specially for improving the functioning of the Department may be sent to Ms. Deepa Anand, Under Secretary, DOP &PW, Lok Nayak Bhawan, Khan Market, New Delhi-110003 ( e-mail: deepa.anand@nic.in/011-24644636 ) by 15.12.2014.

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(Harjit Singh)
Deputy Secretary

Download notice regarding Suggestion for promoting welfare of Pensioners’/Family Pensioners drawing pension / family pension from Central Government (Click Here)

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80 Years and above Pensioners Pension increased by 10% w.e.f. 01.04.2014

Maharashtra Government, Finance Department has passed a new resolution regarding to get pension benefit to 80 years or above pensioners. By this new resolutions now 10% increase in pension/family pension to pensioners and family pensioners of 80 years of age and above, from 1st April, 2014.  The new resolutions is as follows:

Government of Maharashtra 

Finance Department 

Government Resolution No. PEN 1014/CR.26/SER-4, 

Hutatma Rajguru Chowk, Madam Cama Road, 

Mantralaya, Mumbai- 400 032 

Date: 09th June, 2014. 

Resolution 

Government is pleased to decide that the pensioners /family pensioners of the age of 80 years and above shall receive a 10 % increase in the pension and family pension fixed as per Sixth pay w.e.f. 01.04.2014. 

2. It will be the responsibility of the Pension Disbursing Authority, i.e. Pay and Accounts Officer, Mumbai/Treasury Officers, as the case may be, to calculate the quantum of increase in the pension payable in each individual case. 

3. Government is also pleased to direct that above decision shall apply to all those pensioners and family pensioners of the age of 80 years and above, of Recognised and Aided Educational Institutions, Non-Agricultural Universities and Affiliated Non-Government Colleges and Agricultural Universities. 

4. In exercise of the powers conferred by the proviso to Section 248 of the Maharashtra Zilla Parishads and Panchayat Samities Act, 1961 (Mah. V of 1962) and of all the other powers enabling it in that behalf, the Government is further pleased to direct that the above decision shall apply to the pensioners and family pensioners of the age of 80 years and above of Zilla Parishads. 

5. State Government Employees who opted for lumpsum payment on absorption in a PSU/Autonomous bodies/Local Bodies and are entitled to restoration of 1/3rd commuted portion of pension as well as revision of the restored amount in terms of Government Resolution, Finance Department, No. COP1099/306/SER-4, dated 15th Novermber 1999 & are also eligible for revised pension as per Sixth pay commission vide Government Resolution Finance Department No. COP 1010/CR58/SER-4 dated 26th July, 2010, shall also be entitled to the payment of 10% increase on full pension w.e.f. 01.04.2014. 

6. The expenditure on this account should be debited to the Budget Heads to which the retirement benefits of the employees mentioned in the above paras are debited and should be met from the grants sanctioned thereunder. 

This Government resolution of Maharashtra Government is available at the website www.maharashtra.gov.in. Reference no. for this is 201406091444294605. This order has been signed digitally. 

By order and in the name of the Governor of Maharashtra

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S. H. Bhosale 

Under Secretary, Government of Maharashtra

Download New Increased Pension Resolution w.e.f. 01.04.2014

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General Pension Rules for Central Civil Pensioners by Pensioners Portal

Frequently Asked Questions (FAQs) 

(Central Civil Pensioners) 

(Last updated/Reviewed: 04.11.2013)

GENERAL 

D.5 Whether any Identity Card is issued to Pensioners?

Identity Card to Pensioners is issued by the respective Ministry/Department/Office. The format of Identity Card has been revised vide OM No 41/21/2000-P&PW(D) dated 25.7.2013. 

D.6 Is a Pensioners’ Identity Card (PIC) required to be issued to those who have been permanently absorbed in PSU/Autonomous Bodies? 

No. Instructions issued by this Department cover only the retired/retiring Central Government employees. On permanent absorption in a PSU , the employee severe their connections with the Government and are treated as employees of the PSU in which they are absorbed. 

D.7 Who will issue Pensioners’ Identity Cacenrd to Retired All India Service Officers? 

The pensioners’ Identity Card is issued by the Department in which the employee last worked. Therefore, in the case of IAS officer retiring while on Central deputation, the Identity Card may be issued by concerned Ministry / Department. In case of officer retiring from State Government, the Identity Card may be issued by the concerned State Government. 

D.8 Whether Pensioners’ Identity Card can be issued to retired employees covered under NPS 

The concerned Ministries / Departments may issue Pensioners’ Identity Card (PIC) to retired NPS employees in the format prescribed under OM No 41/21/2000-P&PW(D) dated 25.7.2013 .

Source: www.pensionersportal.gov.in

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New plan for the pension of State Govt. employees through Banks.

Maharashtra Government has been issued a resolution No.NIVEYO 1007/Pra.Kra.120/Bhag-1/Kosha Pra.5 dated 06.09.2013 regarding New Pension Plan for State Government Employees through banks. 

Now a days, many Family Pensioners of State Government of Maharashtra Employees face the problem to withdrawal pension amount.  Due to this inconvenience Maharashtra Government takes a good decision, desire to withdrawal family pension problem very smoothly.  By this resolutions Pensioner's withdrawal pension amount from any where, anytime etc.  Now, State Government merge "The Gadchiroli District Central Co-op. Bank Ltd." in Annexure "A".

To Download Government Resolution (Click Here)

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Pension to Retired Employees Covered Under PF Scheme

The Employees’ Pension Scheme, 1995 came into effect from 16th November, 1995 replacing the erstwhile Employees Family Pension Scheme, 1971, which inter-alia provides superannuation/retirement and family pension. 

In order to secure a minimum pension of Rs. 1,000/- per month under Employees’ Pension Scheme (EPS), 1995 to the member pensioners, the present Government contribution to EPS, 1995 is required to be raised from the existing 1.16% to 1.79% of wages thereby increasing the Government’s present contribution from approximate Rs.990 crore per annum to Rs.1533 crore per annum in the first year. An analysis of the trend in the contribution made by the Central Government suggests that the contribution of the Central Government has been increasing at an average of 10-15% per annum over the last five years. 

This information was given by Minister of State for Labour & Employment Shri Kodikunnil Suresh in the Lok Sabha today in reply to a written question.

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Grant of Family Pension and Gratuity to the eligible member of the family of any employee/pensioner

Press Information Bureau 

Government of India

Ministry of Personnel, Public Grievances & Pensions

23-July, 2013 16:55 IST

Grant of Family Pension and Gratuity to the eligible member of the family of any employee/pensioner 

Family pension is payable to the family of a Government employee or pensioner after his death. Difficulties in payment arise when a Government Servant or pensioner goes missing. Clarificatory instructions have recently been issued by the Central Government for payment of benefits in such cases. 

According to these instructions, the family must lodge a report with the concerned police station and obtain a report from the police, that the employee or pensioner or family pensioner has not been traced despite all efforts made by them. 

The report may be a First Information Report or any other report such as a Daily Diary or General Diary Entry. 

The family can apply for the grant of family pension, amount of salary due, leave encashment due and the amount of GPF and gratuity (whatever has not already been received) to the Head of Office of the organisation where the employee or pensioner had last served, six months after lodging of police report. 

The amount of salary due, leave encashment due and the amount of GPF will be paid to the family in the first instance as per the nominations made by the employee or pensioner on filling of a police report and submission of an indemnity bond. 

Detailed instructions are available at Department of Pension & Pensioners’ Welfare’s website www.persmin.nic.in. 

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Permission to pensioners to open a joint account in the bank for pension.

Permission to pensioners to open a joint account in the Bank for Pension by Government Resolution No. Sankirn 10.05/Pra.Kra.196/Kosha Pra.5 Dated 12 Dec. 2007 and G.R. No. Sankirn 10.05/Pra.Kra.196/Kosha Pra.5 Dated 04 Jul. 2008 directed for Affidavit as per Government Service Law to all pensioner but in both the resolution it is not mentioned how much revenue stamp and thus there is more difficult to clarify all difficulties.  Therefore by this resolution is cleared that when the pensioners open new pension account jointly in bank pensioners must affidavit on Revenue Stamp of Rs. 100/-.

Read Clarification Click Here

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Revision of pension of pre-2009 pensioners.

The Government of India, Ministry of Personal, PG and Pensions Department of Pension & Pensioner's Welfare, New Delhi has issued a circular regarding Revision of Pension of Pre-2006 pensioners vide Office Memorandum No. F.No. 38/37/08-P & PW(A) dated 28.01.2013.  The detailed Circular as under:
 

The undersigned is directed to say that in pursuance of Government's decision on the recommendations of Sixth Central Pay Commission, orders were issued for revision of pension/family pensioners vide this Department's OM No. 38/37/08-P&PW(A) dated 01.09.2008, as amended from time to time.
 

2.  It has been decided that the pension of pre-2006 pensioners as revised w.e.f. 01.01.2006 in terms of para 4.1 or para 4.2 of the aforesaid OM dated 01.09.2008, as amended from time to time, would be further stepped up to 50% of the sum of minimum of pay in the pay band and the grade pay corresponding to the per-revised pay scale from which the pensioner had retired, as arrived at with reference to the fitment tables annexed to the Ministry of Finance, Department of Expenditure OM No. 1/1/2008-IC dated 30th August, 2008.  In the case of HAG and above scales, this will be 50% of the minimum of the pay in the revised pay scale arrived at with reference to the fitment table annexed to the above-referred OM dated 30.08.2008 of Ministry of Finance, Department of Expenditure.
 

3. The normal family pension in respect of pre-2006 pensioners/family pensioners as revised w.e.f. 1.1.2006 in terms of para 4.1 or para 4.2 of the aforesaid OM dated 01.09.2008 would also be further stepped upto 30% of the sum of minimum of pay in the pay band and the grade pay corresponding to the per-revised pay scale in which the Government servant had retired, as arrived at with reference to the fitment tables annexed to the Ministry of Finance, Department of Expenditure OM No. 1/1/2008-IC dated 30th August, 2008.  In the case of HAG and above scales, this will be 30% of the minimum of the pay in the revised pay scale arrived at with reference to the fitment tables annexed to the above OM dated 30.08.2008 of Ministry of Fiance (Department of Expenditure).
 

4.   A revised concordance table (Annexure of the pre-1996, Pre-2006 and post 2006 pay scalses/pay bands indicating the pension/family pension (at ordinary rates) payable under the above provisions is enclosed to facilitate payment of revised pension/family pension.
 

5.  The pension so arrived at the accordance with para 2 above and indicated in Col. 9 of Annexure will be reduced pro-rata, which the pensioner had less than the maximum required service for full pension as per rule 49 of the CCS (Pension) Rules, 1972 as applicable before 01.01.2006 and in no case it will be less than Rs. 3,500/- per month.

Download this Circular Click Here

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Tax Liability on Pension Payment u/s 17(I)(ii).

After end of period of service whose joining on or before 01.04.2004 Pension Plan is applicable by the Employer to Employee as reward for past service.

Pension is normally paid as a periodical payment on monthly basis but certain employers may also allow an employee to forgo a portion of the pension and receive a lump sum amount by surrendering such portion of pension.  This is known as commutation of pension.   The pension may be fully or partly commuted i.e. in lieu of pension, a lump sum payment is made to the employee.   The treatment of these two kinds of pension is as under :-

Un-commuted pension i.e. the periodical pension :

It is fully taxable in the hands of all employees whether government or non-government. 

Commuted pension: 

Exemption in the case of Government employees or employees of local authorities or statutory corporation [Section 10(10A)(i)]; Commuted pension received by these employees under the Civil Pensions (Commutation) rules of the Central government or under any similar scheme applicable, is wholly exempt under section 10(10A)(i).   Hence nothing is included in the gross salary under section 17(1).   Normally, as per government rules full pension cannot be commuted.  Exemption shall be to the extent it is allowed to the commuted and the balance uncommuted pension received periodically will be fully taxable.

Judges of the Supreme Court and High Court will be entitled to the exemption of the commuted portion u/s 10(10A)(i) of the Act. [Circular No. 623 dated 6.1.1992]

Circular : No. 623, dated 6-1-1992.
Commutation of pension received by Judges of the Supreme Court and High Courts

1. Under section 10(10A)(i) of the Income-tax Act, 1961 any payment in commutation of pension received, inter alia, under the Civil Pension (Commutation) Rules of the Central Government, shall not be included while computing the total income of the recipient.

2. The issue regarding the applicability of section 10(10A)(i) to the computation of pension received by Judges of the Supreme Court and the High Courts has been considered by the Board.  The Board have been advised that under section 19 of the High Court Judges (Conditions of Services) Act, 1954 and the corresponding provisions in the Supreme Court Judges (Conditions of Service) Act, 1958, the Civil Pension (Commutation) Rules for the time being in force shall, with necessary modifications, apply to Judges.  The Board are further advised that the Judges would be governed by Rule 3 of the Civil Pension (Commutation) Rules, which provide for commutation for a lump sum portion not exceeding one-half of the pension.  Since the commutation is under the aforesaid Rules, Judges of the Supreme Court and High Courts will be entitled to the exemption of the commuted portion under section 10(10A)(i) of the Act.

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Dearness Relief to Pensioner / Family Pensioner 72% form 1st November, 2012

Maharashtra Government declared Dearness Allowance to Pensioner or Family Pensioner from 1st July 2012, from 65% to 72% vide Resolution No.NIMAVA-2012/Pra.Kra.90/Seva-4 dated 09.11.2012. The increase Dearness Allowance 72% will effect from November-12 as Cash and balance D.A. arrears from July-2012 to October-12 will release soon to Pension/Family Pension Employee of Maharashtra State.

 Click Here to See Government Resolution

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TDS on Income from Pension and New Pension Scheme in Asstt. Year 2013-14

TDS on Income from Pension:

In the case of pensioners who receive their pension from a nationalized bank, the instructions contained in this circular shall apply in the same manner as they apply to salary-income. The deductions from the amount of pension under section 80C on account of contribution to Life Insurance, Provident Fund, NSC etc., if the pensioner furnishes the relevant details to the banks, may be allowed. Necessary instructions in this regard were issued by the Reserve Bank of India to the State Bank of India and other nationalized Banks vide RBI's Pension Circular(Central Series) No.7/C.D.R./1992 (Ref. CO: DGBA: GA (NBS) No.60/GA.64(11 CVL)-/92), dated the 27th April, 1992, and, these instructions should be followed by all the branches of the Banks, which have been entrusted with the task of payment of pensions. Further all branches of the banks are bound u/s 203 to issue certificate of tax deducted in Form 16 to the pensioners also vide CBDT circular no. 761, dated 13-1-1998.

New Pension Scheme:

The New Pension Scheme(NPS) has become operational since 1st Jan. 2004 and is mandatory for all new recruits to the Central Government Services from 1st January, 2004. Since then it has been opened to employees of State Governments, Private Sector and Self Employed. The income received by the NPS trust is exempt. The NPS trust is exempted from the Dividend Distribution Tax and is also exempted from the Securities Transaction Tax on all purchases and sales of equities and derivatives. The NPS trust will also receive income without tax deduction at source. The above amendments are retrospectively effective from 1-4-2009 (AY 2009-10) onwards.

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Arrears of Dearness Relief on Pension or Family Pension w.e.f. 01.01.2012 to 31.03.2012

Good news for Pensioner or Family Pensioner Ex-Employee of Maharashtra State that they should enjoying Dearness relief 7% from 01st January 2012 to 31st March 2012 as arrears. The Maharashtra State Government declared the Dearness allowance from 01.01.2012 as Central Government to Pension/Family Pension Employee but the cash paid from April-2012 and said that till declaration of arrears could not be pay to employee. Thus the all department enjoying the Dearness Allowance by 65% from April 2012 and by this resolution the State Government announced to pay Balance arrears from the above period i.e. 01.01.2012 to 31.03.2012 to the employee.

Government Resolution of Balance Dearness is here.

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Dearness Relif on Pension / Family Pension 65% form 1st January, 2012

Maharashtra Government declared Dearness Allowance to Pensioner or Family Pensioner from 1st January 2012, 65% vide Resolution No.NIMAVA-2012/Pra.Kra.41/Seva-4 dated 17.04.2012. This Dearness Allowance of 65% will effect from April-12 as Cash and the arrears of D.A. from January-2012 to March-12 will release soon to Pension/Family Pension Employee of Maharashtra State.

Click Here to See Government Resolution

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Important Information about Family Pension and Income Tax.

I would like to share with you an important information regarding Family pension and Income Tax because near about 25% employee who earned Family pension income between or over taxable Limit and thus they are in confusion whether they pay tax or not. In this matter, look the following explanation:

1. Family pension is not totally exempted. It is taxable under "Income from other Sources" head along with below deduction .
2. Deduction under section 57 (iia) is allowed

• 1/3 of the Family Pension.
• Rs. 15,000.00

1. No TDS Deductions u/s 192 because Family Pension is not a Salary

As per income tax act, detail is given as under:

10[(iia) in the case of income in the nature of family pension, a deduction of a sum equal to thirty-three and one-third per cent of such income or 11[fifteen] thousand rupees, whichever is less.
Explanation.For the purposes of this clause, family pension means a regular monthly amount payable by the employer to a person belonging to the family of an employee in the event of his death ;]

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Free Download Revised Pension Excel Base Software as per 6th Pay Commission

Dear Employee, as per Government Rules of 6th Pay Commission we develops Excel Base Software to calculate revised pension. it is very useful demand that how to calculate and make Revised Pension with latest dearness rates. In this revised pension plan (Calculator), we will try to solve all the difficulties as per rule of Pension. Maharashtra Civil Serves (Revised Pay) Rules-2009 are not applicable to Government Servant who retired on or before 31st December 2005 and who were re-employment on that day including those whose period of re-employment extended after the date vide Rule 2 (ii) (g) thereof. The question of extension of benefit of the revised pay scales to such pension and the manner in which their pay should be fixed in the revised pay scale has been under consideration of Government.

Keeping in view this problem, a updated Revised Family Pension calculator has been prepared which calculates Revised Pension, Gratuity etc.

Don't Download any thing before Free Registration on this site.
Download Now

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Latest updated Revised Family Pension Calculator as per 6th pay Commission.

Friends, by the demand of visitors and it is very useful demand that how to calculator with latest dearness rates your revised pension plan (Calculator). Now a days, this is genuen and legal demand. The Maharashtra Civil Serves (Revised Pay) Rules-2009 are not applicable to Government Servant who retired on or before 31st December 2005 and who were re-employment on that day including those whose period of re-employment extended after the date vide Rule 2 (ii) (g) thereof. The question of extension of benefit of the revised pay scales to such pension and the manner in which their pay should be fixed in the revised pay scale has been under consideration of Government.

Keeping in view this problem, a updated Revised Family Pension calculator has been prepared which calculates Revised Pension, Gratuity etc.

How to Install :

Simply download zip file and run.

How to use :

* Enter base data in only Yellow cell.
* Enter Basic Information of Employee.
* Enter Empolyee Designation.
* Date of Joining and Retirement.
* Other Related Information for Revised Pension Case.

Free Download link will be provided through email to only registered and activated email at www.gsoftnet.blogspot.com
Request can be done by email at gsoftnet@rediffmail.com

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Superannuation, Re-employment, Pension, Provident Fund and Gratuity

Existing Scenario: Once a teacher, always a teacher is a very popular saying. However, issues relating to the age of superannuation of teachers, post-retirement benefit of Pension and terminal benefits like Provident Fund and Gratuity have always been matters of concern for them since these relate to social security available to them once they have finished their teaching careers. The Pay Review Committee during its interaction with teachers and also after scrutinizing the data made available to it through responses to its questionnaires and also through the written representations made to it noted with grave concern that there was no uniformity in the availability of such benefits to university and college teachers across the country. Even with respect to a significant issue like the age of superannuation, the span is from fifty five to sixty five with fifty eight, sixty, sixty two as terminal stages in between. Similarly, there are teachers who enjoy the benefits of post-retirement pension while others have no such support. In some institutions the provision of general provident fund is available for a section of in-service teachers while others even in the same institution are governed by the Contributory Provident Fund Scheme.

Keeping all this in mind and being aware of the fact that issues of social security will go a long way in attracting fresh talent to teaching in colleges and universities, the Pay Review Committee makes the following recommendations.

The age of Superannuation: Keeping in mind the fact that the field of higher education is currently facing an acute shortage of teachers at all levels and also being aware of the decision of the central government to expand the base of college and university education significantly throughout the country during the XI Five Year Plan which has been declared as the Plan for Education, The Pay Review Committee recommends that the age of superannuation of teachers should be 65 years throughout the country whether working in a State or Central University as also whether in a college or in a university.

The Pay Review Committee also believes that the fears expressed by certain quarters that raising the age of superannuation to sixty five years would have an adverse impact on the recruitment of young teachers at the entry level is both misconstrued and misplaced. According to the understanding of the Pay Review Committee, the demand and supply situation of teachers for higher education is such that even after this provision of sixty five years as the age of superannuation of teachers is put in place, there would still be a significant shortfall in the availability of qualified teachers. Moreover, the academic institutions will continue to derive the benefits of availability of senior academics both in teaching and research. This would indeed be a big factor towards the improvement in quality of teaching and research. The Pay Review Committee is of the considered opinion that while allowing the institutions to continue to derive the benefits of participation by senior academics in both teaching and research; it will also attract talented young academics to the profession.

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Voluntary Retirement Scheme for Railway Employee (Drivers and Gangmen).

Railway has announced very benefited Voluntary Retirement Scheme to their Employee (Drivers and Gangmen) i.e. Safety Related Retirement Scheme (SRRS) was introduced in January 2004 exclusively for two front line safety categories i.e.. Drivers and Gangmen.

The ward of the employee seeking retirement under the scheme is considered for appointment in the respective category subject to fulfillment of eligibility / suitability etc. The existing scheme has been renamed as Liberalized Active Retirement Scheme for Guaranteed Employment for Safety Staff (LARSGESS) and will cover all safety categories including Gangman with grade pay of Rs. 1800/-.

The condition of having minimum 33 years qualifying service has been reduced to minimum 20 years and the eligibility age group from 55-57 years to 50-57 years. However, in the case of Drivers, the condition of qualifying service i.e. 33 years and eligibility age group i.e. 55-57 will remain the same.

The scheme will result in younger workforce and boost morale of staff by way of provision of job to their eligible dependent wards.

This information was given by the Minister of State for Railways, Shri E. Ahamed in a written reply in Rajya Sabha on 12.11.2010.

What are the new Pension Plans?
The New Pension Scheme (NPS) was introduced by the Union Government in 2003. According to the new scheme, employees appointed on or after January 1, 2004 will contribute 10 per cent of their Pay and Dearness Allowance to the Pension Fund Regulatory and Development Authority under the Ministry of Finance. An equal amount will be contributed by the Centre. The scheme is mandatory for Government employees, but optional for other citizens of India. NPS merely declared that tax benefits would be applicable as per the Income Tax Act 1961 as amended from time to time.

How to Revise your Pension?
Subject to the provisions of rule 97 I Pension once authorized after final assessment shall not be revised to the disadvantage of the non-teaching employee, unless such revision becomes necessary on account of detection of the clerical error subsequently.

Provided that, no revision of pension to the disadvantage of the pensioner shall be ordered by the Director of Higher Education without the concurrence of the Finance Department if the clearing error is detected after a period of two years from the date of authorization of pension.

For the purpose of sub-rule (1), the retired non-teaching employee concerned shall be served with a notice by the Director of Higher Education requiring him to refund the excess payment of pension within a period of two months from the date of receipt of notice by him.

In case the non-teaching employee fails to comply with the notice, the Director of Higher Education shall, by order in writing, direct that such excess payment, shall be adjusted in installments by short payments of pension in future, in one or more installments, as the Director of Higher Eduction may direct.

Equity Pension Plans:
Pension regulator, PFRDA, today said that it would like to maintain the 50 per cent limit on investment in equities for the new pension fund, regardless of the recommendation of the Bajpai committee.

These fund managers include LIC Pension Fund Ltd, SBI Pension Funds Ltd, UTI Retirement Solutions, IDFC Pension Fund Management, ICICI Prudential Pension Funds Management, Kotak Mahindra Pension Fund and Reliance Capital Pension Fund.

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