NPS to OPS (Old Pension Scheme) switch option for Central Government Employees (Latest News): The Department of Pension and Pensioner’s Welfare (DoPPW) has given a one-time option to some Central Government Employees to get their pension as per the CCS (Pension) Rules 1972 (now 2021). This will be applicable to only those employees who were appointed against a post or vacancy, which was notified/advertised before the date of the notification of the National Pension System (NPS)
The NPS was notified on 22nd December 2003. Eligible employees can exercise the one-time option by 31st August 2023, according to DoPPW.
“It has now been decided that, in all cases where the Central Government civil employee has been appointed against a post of vacancy which was advertised/notified for recruitment/appointment, prior to the date of notification for National pension System i.e.e 22.12.2003 and is covered under the National Pension System on joining service on or after 01.01.20224, may be given a one-time option to be covered under the CCS (Pension) Rules, 1972 (now 2021). This option may be exercised by the concerned Government servants latest by 31.08.2023,” the DoPPW said in an Office Memorandum dated 3rd March 2023.
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Eligible Central Government civil employees, who do not exercise the one-time option by 31st August, will continue to be covered by NPS. The DoPPW said that the option once exercised will be final.
The DoPPW further said that the matter regarding coverage under the CCS Pension Rules, based on the option exercised by the Government servant, will be placed before the Appointing Authority of the posts for which such option is being exercised for consideration, in accordance with the above instructions.
“In case the Government servant fulfills the conditions for coverage under the CCS (Pension) Rules, 1972 (now 2021), in accordance with these instructions, necessary order in this regard shall be issued latest by 31st October 2023. The NPS account of such Government servants shall, consequently, be closed w.e. 31st December 2023,” the DoPPW said
Key points
- The option once exercised will be final
- Eligible employees will have to exercise the one-time option by 31st August 2023.
- Upon exercising the option to switch to the old pension scheme, employees will be required to subscribe to the general Provident Fund (GPF).