Thursday, February 23, 2017

NPS New Pension Deduction Stoppage of last 3 months Guidelines.

NPS New Contributory Pension Scheme Deduction Stoppage of last three(03) months Guidelines, AP TS NPS CPS Stoppage of deductions of the last three months, National Pension System (NPS) Contributory Pension Scheme (CPS) Deductions under NPS Stoppage of deductions of the last three months certain Guidelines Instructions issued as per Memo.No:3058.

NPS New Pension Deduction Stoppage of last 3 months Guidelines.


AP National Pension System Contributory Pension Scheme Deductions under NPS Stoppage of deductions of the last three months instructions to all Treasury Office/PAOs.



Cir.Memo.No: D4/3058/2013.


All the Treasury Officers /PAOs in the State are informed that, Pension Fund Regulatory and Development Authority (Exits and Withdrawals under NPS) Regulations 2015,laid down clear guidelines with respect to stoppage of last three (03) months NPS deductions by Employer (DDO). As per the provision of regulation No.37 of the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under( NPS) Regulations, 2015, contributions deductions under the National Pension System made by the employers from the salary of a subscriber shall be stopped at least three months prior to his / her date of superannuation, as may be applicable, to ensure that the exit withdrawal of the subscriber is smooth and effective. The employer shall settle directly the said last three months contributions at their end with the employee concerned.


Therefore, they are directed to advice all the Drawing and Disbursing Officers under their jurisdiction to stop to deduct monthly NPS deductions from the salary of employe whoes under N PS. three months ior to the date of superannuation / retirement. Further, they are also directed to reject such type of claims, if any received from the Drawing and Disbursing Officers. The Treasury Officer All the Treasury Officers / PAOs are requested to disseminate this information to all the underlying Drawing and Disbursing Officers by prominently displaying the information in their notice boards as well as by way of any other possible
communication.





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