No official Railway Board PDF has been traced for this entry yet. The text below was read from the document held in the library.
| Circular number | No. 2025/F(E)II/NPS1/1 |
|---|---|
| Date | 2003-12-22 |
| Type | Commercial Circular |
| Topic | general |
| Currency | Historical — likely superseded |
Effect of compulsory retirement or dismissal or removal from railway service on the accumulated pension corpus under NPS in respect of railway servant covered under the National Pension System -reg of his accumulated pension corpus shall be paid to him in accordance with the regulations
RBE No. /5/2025 GOVERNMENT OF INDIA (BHARAT SARKAR) MINISTRY OF RAILWAYS (RAIL MANTRALAY) (RAILWAY BOARD) No. 2025/F(E)II/NPS1/1 New Delhi, dated: | 3.02.2025. The General Managers/Principal Financial Advisers, All Zonal Railways/Production Units etc., DGs of RDSO and NAIR. Subject: Effect of compulsory retirement or dismissal or removal from railway service on the accumulated pension corpus under NPS 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. It 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. In cases where a railway servant covered under NPS is compulsorily retired from service as a penalty or is dismissed or removed from railway service, the lump sum and the annuity out of his accumulated pension corpus shall be paid to him in accordance with the regulations notified by Pension Fund Regulatory and Development Authority (PFRDA) payable to the Subscriber as admissible in the case of exit of a Subscriber from National Pension System before superannuation. 3. However, the railway servant, at his option, may continue to subscribe to the NPS with the same Permanent Retirement Account Number as a non-Government subscriber, in accordance with the regulations notified by the PFRDA. 4. The above provisions shall, however, be without prejudice to any action being taken in respect of gratuity and other retirement benefits admissible to such railway servants and those benefits shall be regulated in accordance: with the rules as applicable to such benefits. (Ramesh Chandra Pandey) Dy. Director Finance (Estt.)-ll Railway Board
Open this circular in the search app · Search all 4,233 documents