Review of the New Pension Scheme and examining demand for continuing Old Pension Scheme

Expert Committee for review of the Contributory Pension Scheme (CPS/NPS) and examining demand for continuing Old Pension Scheme – Orders Issued

GOVERNMENT OF ANDHRA PRADESH
ABSTRACT

Contributory Pension Scheme (CPS/NPS)- An Expert Committee for review of the Contributory Pension Scheme and examining demand for continuing Old Pension Scheme – Constituted – Orders – Issued.

FINANCE (HR.3-PENSION-I) DEPARTMENT

G.O.R .RT.No. 2052

Dated: 28-11-2018

Read the following : –

1. G.O.Ms.No.653 Finance(Pen-1) Department, dated: 22.09.2004.
2. G.O.Ms.No.654 Finance(Pen-1) Department, dated: 22.09.2004.
3. G.O.Ms.No.655 Finance(Pen-1) Department, dated: 22.09.2004.
4. Representations from various Service Associations, public representatives for restoration of Old Pension Scheme.

ORDER:

In G.O. 1st to 3rd read above, Government of Andhra Pradesh adopted the Government of India’s New Pension Scheme based on Defined Contributions for the employees of the State, who are newly recruited on or after 01.09.2004.

2. Several representations and requests have been received from various service associations and people representatives for de-adoption of Contributory Pension Scheme and restoration of Old Pension Scheme for the State Government employees.

3. Keeping in view of the representations from the service associations and people representatives, the Government hereby constitute an Expert committee with the following composition.

4. Terms of reference for the committee:

i. To submit a detailed report analysing the repercussions, both legal and financial of reviewing the Contributory Pension Scheme now in force.

ii. To submit a detailed report analysing the impact of Contributory Pension Scheme on the State Finances.

iii. To suggest propositions regarding the liabilities and risks that may arise out of the agreements entered into with NPS trust and NSDL.

iv. In case it is to withdraw the Contributory Pension Scheme and in lieu of it to implement the Statutory Pension Scheme, suggest propositions for refund of the contributions made by the employees & employer so far?

v. In case it is to withdraw the Contributory Pension Scheme and in lieu of it to implement the Statutory Pension Scheme, what will be the legality of such a decision with respect to those who have already retired from service after serving under the Contributory Pension Scheme? or expired while in service?.

vi. To analyse the status of the scheme in detail and the experiences and current scenarios of other states that have implemented the Contributory Pension Scheme.

vii. In case if the scheme is continued, what are the various steps that can be taken to make it more attractive/beneficial?

viii. To make suggestions in other matters that the committee finds relevant with regard to the review of the Contributory Pension Scheme.

5. The term of the committee shall be 3 months from the date of issue of orders.

(BY ORDER AND IN THE NAME OF THE GOVERNOR OF ANDHRA PRADESH)

ANIL CHANDRA PUNETHA
CHIEF SECRETARY TO GOVERNMENT

To,

The Chairperson and Members of the Committee
The Principal Secretary to Government(FAC), Finance Department The Secretary to Government(FP), Finance Department
The Special Secretary to Government, Finance Department The Registrar, S.P.Mahila University, Tirupathi
The Director, CESS, Hyderabad
Copy to:
The Chief Secretary to Government,
All Service Associations in Andhra Pradesh SF/SCs

//FORWARDED BY ORDER//

SECTION OFFICER

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