Advance Loan from GPF – Recovery to be stopped prior to 6 months from Retirement

GPF Advance Loan – While remaining Loan to be treated as unrecovered Advance, recovery for Advance Loan from GPF to be stopped prior to six months from the date of retirement

GOVERNMENT OF WEST BENGAL
FINANCE DEPARTMENT
AUDIT BRANCH

No.2229-F(J)-W.B.

Date:- 20.06.2018

MEMORANDUM

Subject:- Completion of recovery of Temporary Advances from GP Fund before six months prior to retirement on superannuation

In terms of this department Memo No. 2133-F dated 21.03.1981 regarding the sanction of any temporary advance from GP Fund, the competent authority should fix the number of instalments in such a manner that the recovery of the same is completed prior to six months from the date of retirement on superannuation of any subscriber to the fund.

It has been reported by some Head of Offices that recovery of temporary advances are now continuing in some cases even during the last six months prior to the date of retirement on superannuation of the subscriber which is not coherent with the Memo no 2133-F dated 24.03.1981.

After careful consideration the Governor is pleased to decide that the Memo No 2133-F dated 21.03.1981 will remain in force in the matter of recoveries of Temporary advance and the irregularities still continuing shall be rectified by the competent authorities to sanction the Temporary advance immediately in any of the following manners.

1. Monthly instalments for recovery of existing temporary advances from the GP Fund may be re-fixed in such number of instalments so that entire recovery is completed prior to six months from the date of retirement on superannuation.

OR

2. Amount of temporary GP Fund Advance remaining outstanding at the time of six months prior to the date of retirement on superannuation may be converted into Non-refundable advance.

Henceforth, the sanctioning authorities shall at the time of sanctioning Temporary Advance from GP Fund shall fix the number of instalments in such a manner so that the recovery of advance is completed prior to six months from the date of retirement on superannuation and in no case Temporary Advance shall be sanctioned during the period of last six months prior to the date of retirement on superannuation.

In addition to the above it is also clarified that:-

1. Subscription to the GP Fund shall be stopped compulsorily prior to three months before the date of retirement on superannuation for all categories of State Government employees as per the provision contained in this Department Memo No. 620-F(J)/W.B. dated- 27.11.2013.

2. Modified versions of Form- 10A and 10B introduced vide this Department Memo No. 1115-F(J)/W.B. dated- 29.03.2018 shall be applicable only for Group-D State Government employees at present until further order.

S/d,
H.K. Dwivedi
Additional Chief Secretary to the
Government of West Bengal

Read/Download West Bengal Government OM No.2229-F(J)-W.B. dated 20.06.2018