Settlement of accumulation under Contributory Pension Scheme in respect of CPS subscribers

Tamilnadu Govt Abstract for Settlement of accumulation
under Contributory Pension Scheme in respect of CPS subscribers retired/resigned, died and terminated from service.

TN Govt has issued an abstract for Contributory Pension Scheme in case of Settlement of accumulation
under Contributory Pension Scheme in respect of CPS subscribers retired/resigned, died and terminated from service

Government of Tamil Nadu

MANUSCRIPT SERIES

FINANCE [PGC] DEPARTMENT

G.O.No.59, Dated 22nd February 2016.

(Manmatha, Maasi-10, Thiruvalluvar Aandu-2047)

ABSTRACT

PENSION – Contributory Pension Scheme – Settlement of accumulation
under Contributory Pension Scheme in respect of CPS subscribers retired/resigned, died and terminated from service – Orders – Issued.

Read :

1. G.O.Ms.No.259, Finance (Pension) Department, dated: 06-08-2003.

2. G.O.Ms.No.430, Finance (Pension) Department, dated: 06-08-2004.

3. Government Letter No.54950, Finance (Pension) Department, dated.
29-09-2005.

-oOo-

ORDER :

In the Government Order first read above, Government introduced the Contributory Pension Scheme to Tamil Nadu Government employees who were recruited on or after 1-4-2003.

2. In the Government Order second read above, Government ordered that it is mandatory for all employees who were recruited on or after
1-4-2003 to become member of the Contributory Pension Scheme and each
employee would pay a monthly contribution of 10% of Basic Pay and Dearness Allowance from his/her salary to the Contributory Pension scheme and a matching contribution will be made by the State Government for each employee, who contribute to the Scheme.

3. The Hon’ble Chief Minister of Tamil Nadu has made an announcement under Rule 110 of Tamil Nadu Legislative Assembly Rules on
19-02-2016 on the floor of the Legislative Assembly that the accumulation under Contributory Pension Scheme in respect of subscribers retired / died will be settled immediately to retired employees and legal heirs of deceased employees.

4. Accordingly, the Government direct that the Contributory Pension Scheme accumulation i.e. the employee’s contribution along with Government contribution and interest thereon upto the date of final authorisation in respect of those retired, resigned, died and whose services are terminated due to various reasons be settled immediately, subject to obtaining an undertaking from the retired/resigned employees and legal heirs of deceased employees that they would not make any further claims under Contributory Pension Scheme.

5. The retired/resigned employee and legal heirs of deceased employee shall submit an application in the format prescribed in Annexure-I to this order for final settlement of the Contributory Pension Scheme accumulation.

6. The Head of the Department in the case of self-drawing officers and the Head of Office in the case of non-self drawing officers, shall be the competent authority to sanction final settlement of Contributory Pension Scheme accumulation in the CPS account of those retired, resigned, died and whose services are terminated due to various reasons. The Administrative Department of Secretariat or the Head of the Department or the Head of Office, as the case may be, shall send the application for final settlement of CPS Account to the Director of Treasuries and Accounts straightaway for authorisation. On receipt of the application for final settlement of CPS Account, the Director of Treasuries and Accounts shall apply the requisite checks and assess the amount of final settlement within a period of one month from the date of receipt of application and send authorisation for final settlement of CPS Account in the format prescribed in Annexure-II to this order to the Government Data Centre, Chennai to issue of CPS Final Account Slip.

7. The Government Data Centre, Chennai shall issue Contributory Pension Scheme Final Account Slip in respect of CPS subscribers retired/resigned, died and terminated from service based on the authorization of the Director of Treasuries and Accounts, Chennai. Based on the authorization issued by the Director of Treasuries and Accounts and the CPS Final Account Slip issued by the Government Data Centre, the Head of the Department in the case of self-drawing officers and the Head of Office in the case of non-self drawing officers, shall issue sanction order for the final settlement of CPS account.

8. On receipt of sanction order issued by the sanctioning authority, the Drawing and Disbursing Officer concerned shall draw and disburse the amount by ECS mode.

9. In respect of local body employees, the Head of the Department concerned shall sanction, draw and disburse the amount by ECS mode based on the authorisation issued by the Director of Treasuries and Accounts.

10. The amount accrued at the credit of Contributory Pension Scheme Account in respect of CPS subscribers retired/resigned, died and terminated from service shall be debited to the respective head of account as detailed below:-

(BY ORDER OF THE GOVERNOR)

K.SHANMUGAM
ADDITIONAL CHIEF SECRETARY TO GOVERNMENT.

Download TN Govt G.O.No.59 dated 22.02.2016