Top Stories

New Pension Scheme for Karnataka Govt’s 65,000 employees


New Pension Scheme for Karnataka Govt’s 65,000 employees
From Our Special Correspondent
Daijiworld Media Network

Bangalore, Jan 20: As many as 65,000 employees of Karnataka government would be covered by the new pension scheme, which had been introduced by the state government under the Defined Contribution Pension Scheme, who had joined service from April 1, 2006.

The state government signed two agreements with the New Pension System Trust (NPST) and National Securities Depository Ltd, thereby becoming the 14th state in the country to join the NPS Trust on Wednesday.

Apart from the 65,000 government employees, who will be covered initially, another 15,000 to 20,000 freshly recruited employees would be joining the scheme every year.

Karnataka Chief Minister B S Yeddyurappa, who briefed reporters after the agreements were signed, explained that the government decided to join the NPST following the recommendations of the State's 5th Pay Commission and expressed confidence that employees would immensely benefit from it.

The state government has adopted the NPC architecture set and regulated by Pension Fund Regulatory and Development Authority  (PFRDA) and the supervision of the scheme functioning and performance of all intermediates was done by the NPS Trust under the overall guidance and supervision of PFRDA.

The Managing Trustee and CEO of the NPS Trust, N R Rayulu, who spoke on the occasion, said 23 states have agreed to join the scheme and already another 13 states have brought their employees under its ambit.

He explained that more than 6.50 lakh employees of the Government of India and other State Governments have joined the scheme including Union Territories.

Rayulu said the trust is operating fund worth over Rs 3,750 crore. ``The
total strength of the members would reach one million within a few months,’’ he said.

The National Securities Depository Ltd (NSDL) has been  appointed as the Central Record Keeping Agency (CRA) and update the entire records of the NPS, including the contributions, investments, balances and annuity for each employee.

Funds would be invested in Government Bonds, Securities and selected Equities through Government of India approved three Pension Fund Managers (PFM), SBI  Pension Fund, UTI Retirement SOlutions and LIC Pension Fund.

In the first year of its introduction, he said the Pension Fund had recorded a growth of 14.5 % followed by 12.8 % in 2009. ``There is also proposal to widen the other asset
classes including Gold and a decision would be taken shortly on the matter,’’ he said.

Karnataka’s  Additional Chief Secretary, Finance Department, M R Sreenivasa Murthy, and Gagan Rai for NSDL and Rayulu for NPS Trust signed the agreements in the presence of the chief minister.


Comment on this article

  • Gurumurtayya, Kalabugi

    Tue, Nov 28 2017

    I have joined police constable in 2011 October and given resignation in June 2012. In 2017 I have oppointed as a high school teacher post, I had forgotten my recent pran number, that is existed in police, ,,can I make new nps or how to know my old pran no plz

    DisAgree Agree Reply Report Abuse

  • How to calculate NPS lumsum amount when i will be retired, Gadag working at Karwar

    Mon, Sep 4 2017

    I am Yomkeshappa working as a village accountant in Karwar i was joined on 17 Apr 2017 and my date of birth is 01 Nov 1981 how to calculate my NPS amount i will be held at the time of retirement

    DisAgree Agree [1] Reply Report Abuse

  • D Prasanna kumar, bellary

    Sat, Sep 24 2016

    i have been worked in the O/o kuidfc
    divisional office Bellary as accounts superintendent here there is no nps deduction pls give me solutions

    DisAgree Agree Reply Report Abuse

  • nagaraja.k.s , y.n.hosakote

    Fri, Feb 13 2015

    At least send a xerox copy of an employee NPS number to the perticular employe address OK

    DisAgree [6] Agree [6] Reply Report Abuse

  • dattatari, bidar

    Tue, Feb 10 2015

    this is agood plan almost all old age people feature plan good

    DisAgree [3] Agree [2] Reply Report Abuse

  • vijaykumar g r, gundalahalli

    Thu, Jan 29 2015

    how we pay monthly premium ariyars by cash and where

    DisAgree [3] Agree [3] Reply Report Abuse

  • Shrikanth Rama Patgar, Kumta Uttara kannada Karnataka

    Tue, Jan 13 2015

    Plz give me Karnataka Nps office adress.Hai sir i am shrikanth rama patgar
    working at govt high school konanduru thirthahalli Shimoga My NPS pran no. 110080867038 . I have invested in NPS scheme since 2009 but I want to inform you that I have not received any acknowledgment letter , NPS kit , user id or any proof that I have invested in NPS Scheme. But every month the amount is been detected from my salry so please try to solve my problem .I hope that I will get feedback soon
    Thank u

    DisAgree [2] Agree [6] Reply Report Abuse

  • manjunath tummaramatti, bangalore

    Tue, Jan 6 2015

    first work in high court of karnataka from5-6-2009,to 30-03-2011,now bwssb working from11-04-2011 til date.butI AM CONFUSED. PLEASE HELP.or cuntin or laps

    DisAgree [2] Agree [2] Reply Report Abuse

  • Niranjan Wali, Laxmeshwar

    Fri, Nov 21 2014

    Plz. Awerness Programme NGO

    DisAgree [1] Agree [2] Reply Report Abuse

  • M.Mallesha, Ramanagar

    Thu, Oct 30 2014

    Dear sir please send me a NPS Office Bangalore Address and with phone no`s.I have so many Problem in this Scheme.Please send me. Thank you.

    DisAgree [2] Agree [3] Reply Report Abuse

  • ameerbaba village acountant, chincholi tq gulbarga dt

    Thu, Aug 7 2014

    I am appointment asper dlrc every month deducted nps in my salary whats benefits help me

    DisAgree [1] Agree [1] Reply Report Abuse

  • gangubai m kalagi, bilagi karnataka

    Thu, May 22 2014

    I sent s1 form to get my pran number but still i did not get it. pleas tell me what happen to it.

    DisAgree [1] Agree [4] Reply Report Abuse

  • SHIVAKUMAR NAIK, GOVT ITI PAVAGADA ROAD CHALLAKERE

    Sat, Apr 19 2014

    I am joined to my job may2010 up to till date iam not receiving any type of statement, but every month deduction in my salary my address also given please inform

    DisAgree [1] Agree [5] Reply Report Abuse

  • Likhita, Dharwad

    Wed, Dec 18 2013

    I am working in 24 Kar Bn NCC Dharwad ,I join 11 Sep 2013 upto till date my salary not come please action on the yous institution.

    DisAgree [3] Agree [3] Reply Report Abuse

  • umesh s totad, chikkodi

    Mon, Dec 16 2013

    respected sr,what about nps refound circular?

    DisAgree [2] Agree [2] Reply Report Abuse

  • RANJINI H V, HIRIMARALI

    Sat, Aug 31 2013

    It is fine.

    DisAgree [3] Agree [1] Reply Report Abuse

  • vijaykumar G Tile, Hassan

    Wed, Jan 30 2013

    I have joined as Lecturer(Bascklog post) in MCE Hassan at october 2006 in NPS but our management they did not deduct pension amount nor Provident Fund kindly consider my request and do needful.
    THanking you

    DisAgree [4] Agree [5] Reply Report Abuse

  • balagouda, hubli

    Wed, Jan 2 2013

    how to settle death claims if employee died in service.

    DisAgree [2] Agree [7] Reply Report Abuse

  • Ranganatha, bangalore

    Sat, Jan 25 2014

    Iam working in karnataka education dept as teacher I got nps card and pass word but due to wrong entry its got struck, regarding this I consulted NPS-cell and also our drawing officer they are not helping to get my new I-pin pass word please help me in this regard

    DisAgree [2] Agree [4] Reply Report Abuse

  • shilpa K, Bangalore

    Tue, Jan 24 2012

    Sir, i joined PWD on 2007 September, But on deptation working in BBMP (Corporation), as we are not drawing salary from treasury they are not deducting PF from my salary. they say that they require saperate Govt order for deducting PF AMOUNT for people working in BBMP. I AM CONFUSED. PLEASE HELP.

    DisAgree [4] Agree [15] Reply Report Abuse

  • Satish.v.khamitkar, Sector no-3 Navanagaar BAGALKOT

    Fri, Dec 30 2016

    I have worked in water resources department of Karnataka in KBJNL almatti where they are not deducting NPS in our salary why but in other departments are deducting NPS what we do for deduction Nps

    DisAgree [1] Agree Reply Report Abuse

  • gururaj choukimath , bagalkot

    Fri, Aug 19 2011

    PLEASE TELL ME THE WAYS TO KNOW ABOUT MY POLICY NUMBER THROUGH INTERNET

    DisAgree [2] Agree [9] Reply Report Abuse

  • manoj kumar .km, chitradurga

    Tue, Aug 9 2011

    sir, i am manoj working in irrigation dept karnataka, sir how to download the application form(s1) and how to register for this nps...

    DisAgree [4] Agree [2] Reply Report Abuse

  • prashant kumar , Dubalgundi

    Sat, Mar 26 2011

    I am prashant kumar working as teachear i would like to know more and more about the pensin plan under karnataka govt regulation

    DisAgree [3] Agree [9] Reply Report Abuse

  • G, Hubli/US

    Thu, Jan 21 2010

    It is actually reduction in benefits for new employees. It is new trend for governments all around the world to reduce their employee cost by moving to "defined contribution plan" from "defined benefit plan".

    DisAgree [1] Agree [9] Reply Report Abuse

  • Maxim Menezes, Attavara/Mangalore

    Wed, Jan 20 2010

    Very good Initiative from the government to start it but it also important to make sure the funds are safe with minimum risk exposure to market. Further this will not be the Govt Scheme which starts and ends in politicians lockers!!!

    DisAgree [2] Agree [3] Reply Report Abuse

Leave a Comment

Title : New Pension Scheme for Karnataka Govt’s 65,000 employees


 
 
 
 

 
You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.


Security Validation

Enter the characters in the image