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PRESENTATION ON NEW PENSION SCHEME BY WREU

Presented By:

Vinod ManjrawalaSecretary PRTN Workshop, Divisional Jt. Secy.-BRC & CSBF Member

Contact No. 091-44034 (M) 09724091762 ; 09427534295 Email-vinodmanjrawala@yahoo.co.in

Motivation By: Com. Umraomal Purohit ; Com. J. R. Bhosale

Santosh Pawar, Vikash Gupte, Sadhana Trivedi

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Objective & ReferenceTo be made aware about various features of the New Pension System including the facilities available to becoming IRA or non-IRA compliant.

Ref: WR HQ L.No.E(NPS)774/0 dated 09.12.2010 (PS-172/2010).

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New Pension Scheme-Orders New pension scheme introduced in Central

Government services including Railway service vide Finance Ministry (Department of Economic Affairs) Gazette notification No. 5/7/2003-ECB&PR dated 22.12.2003 (Sr.No.5 in section 1).

Existing Railway Service (Pension) Rules, 1993 including Commutation of Pension Rules & Extraordinary Pension Rules and State Railway Provident Fund Rules contained in IREC, Vol.I(1985 Ed)(1995 reprint) shall not be applicable to new recruits entering in railway from 01.01.2004.(Ref: R.B.L.No.F(E)III/2003/PN1/24 dated 31.12.2003 (RBO 225/2003)

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NPS Type & EffectiveIt is called contributory

pension system.Effective from 01.01.2004 & onwards recruited employees

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Salient Feature of New Pension System-1 Based on defined contribution – which will use the existing network

of branches and post office etc., to collect contributions and interact with participants allowing transfer of the benefits in case of change of employment and offer a basket of pension choices.

System is mandatory for all Govt. employees who join on after 01.01.04.

It has two Tiers i.e. Tier-I & Tier-II In Tier-I, Govt. employee shall make compulsory Contribution @

10% of salary (Basic pay ) + DA & matching contribution will be made by Govt

(investment) for other then running & doctors. (Basic pay + 30% Running Allowance) + DA & matching

contribution will be made by Govt (investment) for running staff. (Basic pay) + DA +NDA & matching contribution will be made by

Govt (investment) for Doctors. From 01.04.2004 to 31.12.2005 contribution @ 10% of salary

(Basic pay) + DP + DA +NDA5

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Salient Feature of New Pension System-2From 01.01.2006 contribution @ Band Pay + grade pay +

DA + NPA (if admissible). The contribution + investment deposited in non-

withdrawal pension Tier-I account.Existing benefit of pension/SRPF/GPF not available to

new recruits on or after 01.01.2004.Tax benefit allowed on Tier-I only for contribution,

accruals but terminal benefits will be taxed at applicable rate of financial year.

Tier-II is withdrawal account on option of Govt. employee & no any contribution in this account from Govt. In Tier-II, Govt employee is free to withdraw part or whole of the money any time. Tax benefit not allowed.

A govt. employee covered under new system can exist at or after attaining the age of 60 yrs from Tier-I.

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Salient Feature of New Pension System-3At exist from Tier –I :

At the age of 60 years: it is mandatory for individual to invest 40% of the pension wealth to purchase an annuity from IRDA (Insurance Regulatory & development Authority) Which will provide for pension for the life time of the employee and his dependent parents/spouse at the time of retirement.

Before attaining the age of 60 years: the mandatory annuitisation would be 80% of the pension wealth.

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Salient Feature of New Pension System-4On death cases: own contribution + Government

investment + interest @ 8% p.a. on both (i.e. own contribution + Government investment) to be paid to the legal heirs.

If employee die or become permanently disabled during service then he is eligible for Additional Relief on death/disability of Government servants covered by the NPS(New Pension Scheme) recruited on or after 1.1.2004 for provisional pension; gratuity etc.,(No. 38/41/06/ P&PW(A) dtd 5th May, 2009)(PS-RBA-31/2009 No. 2008/AC/II/21 /19 dtd 29.05.2009).

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Salient Feature of NPS-5An independent Pension Fund Regulatory and

Development Authority (PFRDA) will regulate & develop the pension market.

Contribution deduction shall be effected from 1st of the following month of recruitment. No deduction in recruitment month.

Immediately on joining service, bill preparing officer will prepare service sheet & fill up PPAN / PRAN (Permanent Pension/Retirement Account Number) form (S1) & submit to Associate Account for allotment of PPAN / PRAN number within month time. PRAN allotting authority is PFRDA / NSDL. PRAN (S1) form is to be attach with Service Sheet/book which comprise of nomination also.

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Salient Feature of NPS-6PRAN is unique number allotted to each employees

remain same for change of employment also. All details of your contribution & govt. share &

investment details, latest balance etc can be seen on web site with the help of PRAN (With I-Pin & Pass word).

FA&CAO i.e. nodal officer of zone & Dy.CAO i.e. nodal officer of HQ office is made responsible for issue suitable instruction at local levels.

16 digit PPAN is to be allotted for contribution of employee & government share by associated account.

Associate account officer will maintain Index register which indicates name of employee, DOB, designation, name of office, pay band, grade pay, and nominee of pension fund & PRAN/PPAN at the time of recruitment.

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Salient Feature of NPS-7Bill Unit will advise PRAN(12 digits number)/PPAN

(16 digits number ) to concern employee first time.Separate pay bills for Old & NPS as per today’s

system.Interest rate of GPF time to time is applicable to NPS

till set up of system & then based on options/returns.On transfer & change of job: balance transferred to

new unit/employer, PRAN number & up to which month contribution made is to be advised only.

Tier-I can leave in case of resignation/left government service only. Now can be continue in others services.

Tier-I contribution can be continue after age of 60 yrs but government investment will be ceased on reaching at age of 60 yrs.

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Salient Feature of NPS-8RPF staff also governs under NPS from 01.01.2004.Compassionate ground appointment is also available

to NPS govern staff as it is govern by other rules.From date of regularization in service, Contribution

started.Contribution on Arrear of DA & Pay is also

permissible in new NPS.PRRDA will decide about nominee & beneficiaries of

NPS for pension to spouse & dependent parents. (Ref: RBE-05/2004 L.No. E(NG)II/2004/CL/16/Policy dated 17.09.2004 ; RBE-21/2004 L.No. 2004/AC-II/21/1 dated 22.06.2004 & RBA-39/2006 L.No. 2004/AC-II/21/1 dated 01.08.2006).

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Salient Feature of NPS-9Leave encashment is admissible similar as existing

rules as this is govern under leave rules (RBE-21/2004 & RBA-19/2004 Bd’s No. 2004/AS-II/21/1 dated 22.06.2004).

Retirement gratuity is admissible to NPS (RBA-39/2006 Bd’s No. 2004/AC-II/21/1 dated 01.08.2006)

Counting of half period/length of qualifying service for the purpose of retirement in case of substitute & temporary is no more useful due to NPS. (RBE-205/2004 & Bd’s No. E(NG)II/2004CL/16/Policy dated 17.09.2004).

NPS not applicable to substitute & monthly rated casual labour unless they are regularised. (RBA-43/2004 Bd’s No. 2004/AC-II/21/1 dated 19.11.2004).

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Salient Feature of NPS-10Employee recruited prior to 01.01.2004 as Apprentice

& absorbed or accepted new appointment by giving technical resignation as on or after 01.01.2004 is governed under old pension system. (RBE-163/2005 Bd’s No. F(E)III/2005/PN1/35 dated 26.09.2005 & F(E)III/84/PN1/4 dated 08.04.1985).

A military personnel who have been re-employed in civil or railway service on after 01.01.2004 as fresh appointees will be governed under NPS (RBA-40/2006 Bd’s No. 2004/AC-II/21/1Pt.II dated 04.08.2006).

CENTRAL GOVERNMENT EMPLOYEES WELFARE HOUSING ORGANISATION (CGEWHO) –NPS employee is also eligible Para 4 (vii) of Greater Noida Housing Scheme Rules/Brochure.

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NPS & Instructions related websiteInstructions is also uploaded on the Railway website at www.indianrailways.gov.in Railway Board Directorates Accounts NPS.

www.npscra.nsdl.co.in

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PPAN allotment systemAllotment of Permanent Pension Account Number to

Railway Employee appointed as on 1.1.2004 & onwards (16 digit number issued by Associated Account)

(From left to Right)1st to 04th digits - Calendar Year of allotment05th digit - Ministry code by CGA - 5 for Railway6th to 8th digits - Zone / PUs code-0 + existing Rly code9th to 11th digits - Associate account code by FA&CAO12th to 16th digits - Employee code starting from 00001 running from January to December

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IRA Complaint Subscriber A subscriber who has registered by duty filling up the Subscriber Registration Form (S1) and whose address, photograph and signature are maintained in Central Recordkeeping Agency (CRA) system is termed as IRA Complaint subscriber. These subscribers have a PRAN Card issued by CRA.

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Subscriber who is not having any PRAN Card is termed as Non-IRA Compliant subscriber.

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Non-IRA Complaint Subscriber

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PRAN CARD To IRA Complaint Subscriber CRA issues a PRAN Card to all IRA compliant

Subscribers which contain PRAN, subscriber's name, father's name, photograph and signature / thumb impression.

Copy of PRAN Card eliminates the requirement of proof of identity, proof of address and proof of age during Tier II activation.

Copy of PRAN card is mandatory for withdrawals from Tier II account

in case of internal transfers within different departments, PRAN card allows the nodal office to start monthly contribution upload before receipt of Last Pay Certificate (LPC).

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SMS and E-mail Alerts To IRA Complaint Subscriber IRA compliant subscribers can register their mobile

number and email id in CRA system and avail the facility of SMS and E-mail alert.

Whenever a contribution is credited in the NPS account SMS and email alerts are sent to the subscriber.

The facility is a available for both Tier-I and Tier-II account

Alerts corresponding to contribution in Tier-I help subscribers to keep a track of monthly contributions.

CRA does not charge anything for the SMS and E-mail alert. This value added service is absolutely free.

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I-PIN To IRA Complaint Subscriber CRA issues I-PIN to all IRA compliant subscribers which

can be used by them for the following. Access the CRA system and check the account details like

address, bank account details and nomination details for both Tier -I and Tier-II .

Subscribers can generate statement of holding for both Tier -I and Tier -II which given them the latest valuation of their total investment.

Subscribers can generate Statement of Transaction for the last three financial years including the current financial year for both Tier -I and Tier -II accounts.

Subscribers can track the credit of monthly contribution into their Tier -I account.

Subscribers can register a complaint is raised, system generates a token number which can be used later on to track status of the complaint.

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T-PIN To IRA Complaint Subscriber CRA also issues T-PIN to all IRA compliant subscribers

which can be used by them to speak to out customer service executives at our Toll-free helpline 1800 222 080 for any query or complaint. They can also use the same T-PIN to access the Interactive Voice Response (IVR) system and avail the services listed below:

Change of T-PIN Check holding details Check the status of any scheme preference or account

details change request Check details of last contribution credit Check details of last withdrawal request (for Tier II

only) Request for Statement of transaction for last 3

financial years 22

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Yearly Statement of Transaction To IRA Complaint Subscriber For IRA compliant subscribers, Annual

Account Statements are sent directly to the subscriber's registered address.

But for non-IRA compliant subscribers, the statement is sent to the concerned PAO.

The Annual Account Statement also contains the details all the changes such as change in nomination etc., happened in the account during that period.

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How to become an IRA Compliant Subscriber If you are still not an IRA Compliant subscriber,

please submit a duly filled S1 from to your DDO. The form will be forwarded to a CRA –

Facilitation Centres after authorisation by the concerned PAO. PRAN will be generated and the PRAN card will be printed and despatched to the concerned PAO within 20 days from the date of receipt of duly filled registration form at the CRA – Facilitation Centre.

It is expected in the next 15 days the PAOs will ensure that the PRAN cards are provided to the DDOs for onward distribution to the subscribers.

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NEW PENSION SYSTEMGovernment of India has started the New

Pension System (NPS) in 2004. As a subscriber of NPS, you enjoy various

facilities and rights including online access to you account, annual statement of transaction, portability across jobs and locations, platform to raise grievance etc.

Under NPS two types of accounts are available

(a) Tier - I account (b) Tier – II account Tier I account for employees joined

service on or after January 1, 200425

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NPS ConditionsAll who have joined service in Railways on or after

January 1, 2004, are mandatorily covered under NPS.Your monthly contribution towards pension is

deducted from your salary. Monthly deduction along with your employer's contribution is being invested in schemes of three PFMs as decided by PFRDA.

These PFMs in return allot units which are credited in your Permanent Retirement account (PRAN) referred to as Tier I account.

At present, at least 85% of your pension wealth is invested in debt instruments and up to 15% in equity and equity linked mutual funds.

Any subscriber in NPS having an active Tier-I account has the option to open an investment and trading account referred to as 'Tier-II account'

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TIER II Account Tier II is a Pension Savings Account, with a facility for

withdrawal to meet financial contingencies.Interfacing entity for Tier II accountPFRDA has appointed various banks and financial

institutes as Point of Presence – POP (similar to a PAO for your Tier I account). The registered branches of the POP are termed as Point of Presence Service Provider – POPSP (similar to a DDO for your Tier I account). The list of POPSPs and ktheir contact details are available in CRA website www.npscra.nsdl.co.in.

Once you submit your Tier II activation request to a POP-SP, it becomes your associated POP-SP. For any request related to Tier II account, you need to contact your associated POPSP. However, you can submit your request for contribution to any POPSP of any POP.

At present there are more than 4000 POP-SPs located across the country. 27

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Opening a Tier II account Tier II account is a voluntary saving facility wherein the withdrawal is as per subscriber's choice. Any government employee who is mandatorily covered under NPS can activate the Tier II account by submitting duly filled from UOS-S10 along with the copy of PRAN Card and initial contribution of Rs.1000/- to any POP-SP.

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Key features of Tier II account You can enjoy unlimited number of withdrawals depending

upon your requirements. The only criteria is that you have to maintain a minimum balance of Rs.2000 at the end of Financial Year i.e., as on March 31st

Minimum amount for contribution is Rs.250/- and minimum 04 contributions to be made in a financial year.

Separate nomination details and scheme preference at possible for Tier II

Contributions can be made through any POP/POP-SP You can access your account details through internet and

telephone using the same I-PIN and T-PIN received for Tier I account

You can have a consolidated account statement for Tier -I and Tier-II

For Tier -II account, no additional CRA charges for annual account maintenance

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Choice of fund managersNPS offers you a choice of six fund managers as well as two approaches to invest in your account

Scheme Preference : NPS allows you to choose from any one of the following

six entities to manage your pension fund :-(1) ICICI Prudential Pension Funds Management Company Ltd(2) IDFC Pension Fund Management Company Limited(3) Kotak Mahindra Pension Fund Limited(4) Reliance Capital Pension Fund Limited(5) SBI Pension Funds Private Limited(6) UTI Retirement Solutions Limited

The NPS offers you two approaches to invest in your account :-(a) Active choice – Individual Funds(b) Auto choice – Lifecycle Fund

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Active choice–Individual Funds

You will have the option to actively decide as to how your NPS pension wealth is to be invested in the following three options :

E- "High return, medium risk " – investments in predominantly equity market instrumentsC -"Medium return, medium risk“ –investments in predominantly fixed income bearing

instrumentsG -"Low return, Low risk" – investments in purely fixed

income instruments.You can choose to invest your entire pension wealth in C or G asset

classes and up to a maximum of 50% in equity (Asset class E). You can also distribute your pension wealth across E, C and G asset classes, subject to such conditions as may be prescribed by PFRDA.

In case you decide to actively exercise your chose about investment options, you shall be required to mandatorily indicate your choice of Pension Fund from among the six Pension Funds appointed by PFRDA.

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Auto choice – Lifecycle Fund NPS offers an easy option for those participants who do not

with a specify the allocation for their NPS investments. In case you are unwilling to exercise any choice, your funds will be invested in accordance with the Auto Choice option. You will, however, be required to indicate your choice of PFM. In case you do not do so, your form shall not be accepted by the POP-SP.

In this option, the investments will be made in a life-cycle fund. Here, the percentage of funds invested across three asset classes will be determined by a pre-defined portfolio. At the lowest age of entry (18 years), the auto choice will entail investment of 50% of pension wealth in "E" Class, 30% in "C" Class and 20% in "G" Class. These ratios of investment will remain fixed for all contributions until the participant reaches the age of 36. From age 36 onwards, the weight in "E" and "C" asset class will decrease annual and the weight in "G" class will increase annually till it reaches 10% in "E", 10% in "C" and 80% in "G" class at age 55. The details of the asset allocation with respect to age is given in table in next slide.

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Table for Lifecycle Fund Neither the Active Choice nor the Auto Choice provides assured

returns. While exercising an Active Choice, remember that your investment

allocation is one of the most important factors affecting the growth of your pension wealth. Please refer to the offer document for details on the risk involved.

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Age AssetClass -

E

AssetClass -

C

AssetClass -

G

Age AssetClass -

E

AssetClass -

C

AssetClass -

G

up to 35 years

50 % 30 % 20 % 46 years 28 % 19 % 53 %

36 years 48% 29% 23% 47 years 26 % 18 % 56 %

37 years 46 % 28 % 26 % 48 years 24 % 17 % 59 %

38 years 44 % 27 % 29 % 49 years 22 % 16 % 62 %

39 years 42 % 26 % 32 % 50 years 20 % 15 % 65 %

40 years 40 % 25 % 35 % 51 years 18 % 14 % 68 %

41 years 38 % 24 % 38 % 52 years 16 % 13 % 71 %

42 years 36 % 23 % 41 % 53 years 14 % 12 % 74 %

43 years 34 % 22 % 44 % 54 years 12 % 11 % 77 %

44 years 32 % 21 % 47 % 55 years & Above

10 % 10 % 80 %

45 years 30 % 20 % 50 %

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Transactions in Tier II Account

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Transactions

Description

Contribution

You can contribute a minimum amount of Rs.250/- and the contribution request in NPS Contribution Instruction Slip can be deposited to any POP-SP.Minimum number of contributions in a year is 04; however minimum of only 01 contribution is mandatory in case a subscriber joins in the last quarter of a financial year.There will be a time lag between the time you deposit Cash/ Cheque / Demand Draft with the POP-SP and the time of credit of units to your Tier II account which may rang up to 7 working days contribution.

Withdrawal

At any given point of time you can avail withdrawal facility. The accumulated units in your account can be withdrawn as per your requirement. The steps for withdrawal from Tier II account is given below :You are requested to submit a written request (Form-UOS-S12, available at the CRA website www.npscra.nsdl.co.in) to the POP-SP with whom you are associated.The correct details and the type of withdrawal (partial/complete) needs to be mentioned in the request form (Form-UOS-S12)Redemption (units withdrawal) will happen on T or T+1 depending on authorization of request before or after 1.30 pm. T being the date of execution of your request by the POP-SP.Latest available NAV will be considered for units' redemption. On T+3, funds will transferred to the bank account of Trustee.Bank which will transfer the funds to your registered banks account provided by you during Tier-II activation.

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Transactions in Tier II Account

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Change of Subscriber details

You can change nomination details and bank details by submitting a duly filled UoS-S2 form to the associated POP-SP

Change of POP / POP-SP

You can change the associated POP-SP by either submitting a request to the POP-SP to whom the account is mapped or by submitting a request to the new POP-SP to whom you want the account to be associated with.

Change of Scheme Preference

You can switch from one option (PFMs, Investment approach and asset allocation) to another, but such transaction can be made only once a financial year.

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Charges for Tier IIThe transaction charges of CRA as well as the

POP charges are same as of Tier I Account as given below :

* plus applicable taxes

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Intermediary Charge head Charges(Rs.)

Mode of recovery

CRA A/C Opening Charge & AMC

Nil Through cancellation of units on a quarterly basis.

CRA Charge Per transaction

6* Through cancellation of units on a quarterly basis.

POP (Maximum Permissible Charge for each Subscriber)

Charges for Tier II activation

20* To be collected upfront

POP (Maximum Permissible Charge for each Subscriber)

Charge Per transaction

20* To be collected upfront

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Employees joined before January 1, 2004 – Option of NPS If you have joined service in Railways before January 1,

2004, you are not mandatorily covered under NPS. Nevertheless you can join NPS on your own under "All Citizens of India" through any ; Point of Presence Service Provider (POP-SP). At the time of joining, you can open only Tier I a/c or both Tier I & Tier II account together. The feature for your Tier I account will differ from those who joined service on or after January 1, 2004. However, all the features as mentioned above for Tier II account will be available to you. For details of the features of your Tier I account, please refer to the Offer Document for "All Citizens of India" on website http://www.npscra.nsdl.co.in. The forms, list of POP-SPs and their contact details are also available in website.

No. E(NPS) 774/0 dated 29.11.2010 P.S.No.172/2010 Railway Board's letter No. 2009/AC-II/21/6 dt.25.10.2010 (RBA No.31/2010).

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:Subscriber Login

User ID

Pass word

Submit Reset Forget password ?Check Grievance StatusCheck Status using Receipt Number Help/ Instruction for login

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Pleas enter your 12 digit PRAN Number

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Change pass word First time / ExpiredYour Password has expired. Please change your password.

* Mandatory Fields

Current Password *

New Password *

Confirm New Password *

Submit Reset

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Welcome to Subsciber

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Security Change Password Change Secret Q/A

Account Details Personal Details Statement of Transaction - T2

Grievance Log Grievance Request Grievance Status View

Views Scheme NAV Details Request Status - View Subscriber Tier-2 Details Statement of Transaction Pre Unitization SOT

User Maintenance Request Status View

Welcome subscriber 110020924603 XX-YYY-ZZZZ Home / Logout

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Details of Drop box issues Security ----.1. Change pass word 2. Change Secret Q/A Account details (click) 1. Personal details 2. Statement of transaction Subscriber Details: PRAN 110020924603 [Status: Active ] PAN ACIPY0936F Name SHRI RITESH RAJENDRAPRASAD YADAV Father's Name RAJENDRAPRASAD SUKHURAM

YADAV Gender Male Date of Birth 21-Jun-1986 Correspondence Address B-21 , JANPATH NAGAR , Permanent Address B-21 , JANPATH NAGAR ,

(Communication Address) DANTESHWAR DANTESHWAR, PRATAPNAGAR ,

PRATAPNAGAR, VADODARA VADODARA, Gujarat, India - 390004

Gujarat, India - 390004 Phone No. Fax No. Mobile No. 09825790143 Email Id SMS Subscription Flag No  Current Status of Subscriber Remarks Nominee 1 Name SMITHEERAVANTHI DHEVI  RAJENDRAPRASAD  YADAV  Date of Birth Relationship MOTHER Percentage Share 100% Major/Minor Major Guardian Name Nominee Invalid Condition UPON MARRIAGE Account No. 01960100018328 Bank Name BANK OF BARODA Bank Branch PRATAPNAGAR BRANCH Bank Address PRATAPNAGAR BRANCH VADODARA MICR Code 390012010 Pin Code 390004 Bank Account Type SAVINGS

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Scheme Preference TypeScheme Preference Type: DEFAULT SCHEME SET-UP

PFM Name PFM ID Scheme Name Scheme ID Percentage Contribution

SBI PENSION PFM001 SBI PENSION FUND SM001001 34.0000

FUNDS PRIVATE SCHEME – LIMITED CENTRAL GOVT LIC PENSION PFM003 LIC PENSION FUND SM003001

34.0000 FUND LIMITED SCHEME – CENTRAL GOVT UTI RETIREMENT PFM002 UTI RETIREMENT SM002001

32.0000 SOLUTIONS PENSION FUND SCHEME- LIMITED CENTRAL GOVT

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Web detailsGrievances ----1. Log grievances request 2. Grievances status viewViews-------1. Scheme NAV (Net Asset Value)

details 2. Request status view 3. Subscriber tier -2 details 4. Statement of transaction 5. pre utilization SOTUser Maintenance ----1. Request status

view

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Statement sample

Transaction Statement for the period of April 1, 2008 to July 13, 2012

PRAN: 110020924603 Name: RITESH RAJENDRAPRASAD YADAV

Status: IRA compliant B-21 JANPATH NAGAR DANTESHWAR, PRATAPNAGAR, VADODARA, Gujarat – 390004, India

Statement Date: Jul 14, 2012 01:47 PMFrom 01-Apr-2008 To 13-Jul-2012 Change in Subscriber Details - No Records Found in Selected PeriodTier-1 DetailsChange in Tier details - No Records Found in Selected Period A) Accumulated Contribution up to March 31, 2008 (Legacy

Amount) : Rs. 0.00 -No Records Found in Selected Period

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Monthly transaction details-1B) Transaction details - Regular (Monthly Contribution)

Date Contribution month Contribution Total (Rs.) SBI Pension Fund Pvt Ltd UTI Retirement Solution Ltd LIC Pension Fund Pvt Ltd

and year Emp (Rs.)Govt(Rs.) Amount(Rs.)NAV(Rs.)Units Amount(Rs.)NAV (Rs.)Units Amount(Rs.)NAV(Rs.)Units

17/9/10 August-2010 1044.00 1044.00 2088.00 689.04 13.4104 51.3810 668.16 12.9338 51.6599 730.80 12.9902 56.2577

14/10/10 September-2010 1044.00 1044.00 2088.00 689.04 13.5783 50.7456 668.16 13.1246 50.9089 730.80 13.1492 55.5775

16/11/10 October-2010 1121.00 1121.00 2242.00 739.86 13.6107 54.3587 717.44 13.1569 54.5295 784.70 13.1476 59.6838

09/12/10 November-2010 1121.00 1121.00 2242.00 739.86 13.5031 54.7918 717.44 13.2164 54.2840 784.70 13.0361 60.1943

TOTAL

C) Transaction details - Arrears Contribution

Date Contribution month Contribution Total (Rs.) SBI Pension Fund Pvt Ltd UTI Retirement Solution Ltd LIC Pension Fund Pvt Ltd

and year Emp (Rs.)Govt(Rs.) Amount(Rs.)NAV(Rs.)Units Amount(Rs.)NAV (Rs.)Units Amount(Rs.)NAV(Rs.)Units

17/09/10 JULY CONTRIBUTION 1044.00 1044.00 2088.00 689.04 13.4104 51.3810 668.16 12.9338 51.6599 730.80 12.9902 56.2577

09/12/10 D.A 155.00 155.00 310.00 102.30 13.5031 7.5760 99.20 13.2164 7.5058 108.50 13.0361 8.3230

12/09/11 PAY ARREAR 1317.00 1317.00 2634.00 856.05 14.0040 61.1289 895.56 13.5361 66.1608 882.39 13.5857 64.9499

14/11/11 D.A Arrear 183.00 183.00 366.00 118.95 13.7889 8.6265 124.44 13.4054 9.2828 122.61 13.4327 9.1277

TOTAL

D) Withdrawal details summary - No Records Found in Selected Period

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Monthly transaction details-2(E) Present Value of Total ContributionParticulars Total (Rs.) SBI Pension Fund Pvt Ltd UTI Retirement Solution Ltd LIC Pension

Fund Pvt Ltd Amount(Rs.)NAV(Rs.)Units Amount(Rs.)NAV (Rs.)Units

Amount(Rs.)NAV(Rs.)UnitsTotal Accumulated 0 0 0 0 0 0

0

Balance as

on March

31, 2008 (Block A)

Total Regular

Contribution (Block B) 60936.00 20066.52 1428.7296 20028.72 1472.3447 20840.76 1531.6019

Total Arrears

Contribution (Block C) 9574.00 3144.42 231.4744 3123.68 237.9291 3305.90 251.1737

Total Contribution as on 13/07/2012 70510.00 23210.94 1660.2040 23152.40 1710.2738

24146.66 1782.7756 NAV as on 13/07/2012 15.1575 14.6210

14.6940

Total value as on 13/07/2012 76366.55 25164.54 25005.91 26196.10

 The Date appearing against the credit is the NAV date i.e., date of Investment. The units shown against the credits are calculated based on the NAV (as mentioned) as on that date.  

This is a computer generated statement and does not require any signature.

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Monthly transaction Note On May 1, 2009, PFRDA had revised the allocation ratio of funds (contribution

remitted by the PAOs/CDDOs) from 55:40:05 to 40:31:29 for the three PFMs - SBI, UTI and LIC respectively.

On July 19, 2010, PFRDA has revised the allocation ratio of funds (contribution remitted by the PAOs/CDDOs) from 40:31:29 to 33:32:35 for the three PFMs - SBI, UTI and LIC respectively.

On July 01, 2011, PFRDA has revised the allocation ratio of funds (contribution remitted by the PAOs/CDDOs) from 33:32:35 to 32.5:34:33.5 for the three PFMs - SBI, UTI and LIC respectively.

The balances reflecting in your account are based on the contribution amount uploaded by your uploading office (PAO/CDDO). In case there is no/less/excess contribution for any month, please contact your uploading office (PAO/CDDO).

The narration appearing in the Arrear contributions is as mentioned by your office at the time of giving/uploading information to CRA. In case you do not find clarity in the narration provided, you may kindly contact your PrAO/PAO/CDDO.

There may be more than one credit appearing against a month. This is due to monthly subscription contribution being sent through multiple fund transfers on different days by the PAO/CDDO.

In case you have not filled up S1 form for registration, please fill up the same and submit to your PAO/CDDO.

In case of any other queries, you may contact CRA toll free. helpline 1800 222 080.

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Legends Term Description Legacy Amount The contributions accumulated up to March 31, 2008 (except for Department of Post) and transferred to NPS by your uploading office (PrAO/PAO).For Department of Post, contributions accumulated up to August 31, 2008 and transferred to NPS by your uploading office (PrAO/PAO). Arrears Contributions transferred to NPS as an arrear for the previous months by your uploading office (PAO/CDDO) on account of pay, pay revision etc. as reflected in the "Particular" column. Residue amount Amount credited in your account for compensating the residue generated amount generated against your contributions. Residue is generated re-credited due to arithmetical limitation of distributing the contributions exactly as per the allocation ratio to the PFMs. PFRDA has re-credited residue amount to PRANs having residue of Re 1.00 and above. NAV Net Asset Value is the underlying value of one unit, it is computed daily based on the closing market prices of the securities in the fund's portfolio. The daily NAV is available at

https://npscra.nsdl.co.in/nav-search.php Current value of Contribution in a Scheme = Current NAV of the scheme x Total Units in the Scheme.

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NPS subscribers of RailwayNumber of employee govern under NPS As on date:

Indian Railways : approximately 2,73,000 employees

Central & states: more than 16 lakhs

Number of employee will likely to govern under NPS :(in next two yrs)

Indian Railways : approximately 4,00,000 employees

Western Railway : approximately 22000 as on 01.08.2011 HQ- 363 ; BCT-6410; BRC-2892; RTM-3617; ADI-3705; RJT-

1375; BVP- 1297; CCG S&C- 43 others : 200 approximatelyWorkshops: PL-782; PRTN-82; SBI-172; BVP-67; DHD-617

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Rate of Returns of NPSReturns of NPS year wise :2004-2008 08.00%

2008 - 2009 14.82 %

2009 - 2010 13.41 %

2010 - 2011 14.82 %

2011 - 2012 09.33 %

2012 - 2013

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Doubts & Quarry Place your doubts one by one.

Place your queries one by one.

Use reference letters & website for more details.

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Comparison of New & Old Pension SchemeS.N.

Details Old Pension Scheme

NPS

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 decide by Government Share Market / PFMs

05 On Price rise Dearness Relief given

Nil

06 Amount of Commutation

Up to 40% allowed Nil

07 PF Eligibility Yes No

08 PF withdrawal PF Temp: within 15 yearsPF Final: After 15 years

Tier -I Nil, Tier-2 withdrawable

Comparison of New & Old Pension SchemeS.N. Details Old Pension

SchemeNew Pension scheme

09 On death of Pensioners

Family pension givens

Nothing, Now Provision subjected to Govt. decision

10 For Running staff

55% added to Basic Pay

No

11 Fees and charges

Nil Fees will be deducted for CRA (NSDL) & Pension Fund Managers

12 Gratuity Yes, On death it is doubled

No. Provisional allowed

13 Applicable from 16.11.1957 01.01.2004

Comparison of New & Old Pension SchemeS.N. Details Old Pension

SchemeNew Pension scheme

14 Tier & Account

Only one account in rly

Tier-I (Non-withdrawal) & II(withdrawal)- With CRA

15 Tax Tax rebate on all deduction

Tax rebate on Tier-I & No Tax rebate on Tier-2

16 Pension Spouse. Unmarried /widow/Divorce daughter, Mentally retarded Son/daughter, mother father

Spouse, mother father

17 Correction Simple & within Rly

Tedious & with NSDLS

18 Regular / Voluntarily retirement

Equal benefit On 60 yrs 60% paidPrior to 60yrs only 20% paid

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Comparison of New & Old Pension SchemeS.N. Details Old Pension

SchemeNew Pension scheme

19 Education Easy even for illiterate

Hardship for illiterate

20 Responsibility Associated Account Transferable

21 Medical facility after RetirementRELHS-97

RELHS-97 applicable & Mandatory

RELHS-97 applicable not applicable- Insurance is under consideration

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The End

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