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| Circular number | No. 2024/F(E)II/NPS1/10 |
|---|---|
| Date | 2024-12-24 |
| Type | Commercial Circular |
| Topic | general |
| Currency | Currency not verified |
Entitlement on resignation from railway service in respect of railway servant covered under the National Pension System -reg The New Pension Scheme (now called as National Pension System(NPS)) was
RBE NoJi3/2024
GOVERNMENT OF INDIA (BHARAT SARKAR)
MINISTRY OF RAILWAYS (RAIL MANTRALAY)
(RAILWAY BOARD)
No. 2024/F(E)II/NPS1/10 New Delhi, dated:24.12.2024.
The General Managers/Principal Financial Advisers,
All Zonal Railways/Production Units etc.,
0095 of RDSO and NAIR.
Subject: Entitlement on resignation from railway service in respect of railway
servant covered under the National Pension System -reg.
The New Pension Scheme (now called as National Pension System(NPS)) was
introduced vide Ministry of Finance, Department of Economic Affairs’ notification No. 5/7/2003-
ECB & PR dated 22.12.2003 ॥ was provided that the NPS would be mandatory for all new
recruits to the Central Government service from 1" of January, 2004 except Armed Forces. The
same was adopted on Railways vide Board's letter No. F(E)III/2003/PN1/24 dated 31.12.2003
2 On resignation from a service or a post, unless it is allowed to be withdrawn in the public
interest by the appointing authority, the lump sum and the annuity out of the Subscriber's
accumulated pension corpus shall be paid to him in accordance with the regulations notified by
the Authority as admissible in the case of exit of a Subscriber from the National Pension System
before superannuation
3 Such payment of lump sum withdrawal and annuity shall not be made before the expiry
of a period of ninety days from the date on which the resignation becomes effective and the
Subscriber is relieved of his duty
4 However, if the Subscriber dies before the expiry of a period of ninety days from the date
‘on which the resignation becomes effective, the payment shall be made to the person eligible to
receive such payment immediately in accordance with the regulations notified by the Pension
Fund Regulatory and Development Authority (PFRDA) as admissible in the case of exit of a
Subscriber from the National Pension System before superannuation
5 The railway servant on his resignation from service, at his option, may continue to
subscribe to the National Pension System with the same Permanent Retirement Account
Number, as a non-Government subscriber in accordance with the regulations notified by
PFRDA.
G hi { dase
(G. Priya
Director, Finance (Estt.)
Railway Board
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