OLD PENSION SCHEME VS NEW PENSION SCHEME

OLD PENSION VS NPS

COMPARISION OF NEW & OLD PENSION SCHEME

SN	DETAILS	OLD PENSION SCHME	NEW PENSION SCHEME
01	Contribution of Employee	Nil	10% of Basic + DA+RA-NPA
02	Pension Guarantee	Yes by Govt.	No
03	Amount of Pension	50% of last pay	As per share price
04	Pension decided by	Government	Annuity Provider
05	On Price rise	Dearness Relief given	Fixed Pension
06	Amount of Commutation	Up to 40% of Pension allowed	No Facility
07	PF Eligibility	Yes	No PF scheme applicable
08	PF Withdrawal	PF Temp: within 15 years PF Final: After 15 years	Tier-I-Conditional Tier-II-Withdrawable
09	On death of Pensioners	Family pension givens	Annuity will be pay on 80% of pension wealth
10	For Running staff	55% added to Basic Pay	As per pension wealth amount
11	Fees and Charges	Nil	Fees will be deducted for CRA (NSDL) & Pension wealth amount.
12	Gratuity	Yes, On death it is doubled	Earlier not allowed Now allowed same as old Pension.
13	Applicable from	16.11.1957	01.01.2004

NPS IMPRORTANT FORMS  

1.S1-Subscriber registration from CSRF-1.

2.S2-Requested for Change/Correction in subscriber master detail and/ or Reissue of I-Pin/T-Pin/PRAN card.

3.S3-Request for scheme preference change for Tier-II.

4.S7-Request for change in signature and/or change in photograph.

5.S10- Request for Activation of Tier-II account under NPS.

6.G1- Subscriber Grievances Registration Form.

7.S12 – Withdrawal Form Tier-II account under NPS.

8.ISS-1 Subscriber Shifting form.