GO62-CPS - Exit Policy - Withdrawal procedures for Subscribers from New Pension System

GOVERNMENT OF ANDHRA PRADESH

ABSTRACT

PUBLIC SERVICES - New Pension System - Exit Policy - Withdrawal procedures  for  Subscribers  from  New  Pension  System   -Orders   - Issued.

FINANCE (PENSION-I) DEPARTMENT

G.O.Ms.No. 62                                              Dated:   07.03.2014

Read the following:-

1 G.O.Ms.No.653, Finance(Pen.I) Department,  dt. 22.09.2004.
2   G.O.Ms.No.655, Finance (Pen-I) Department, dt. 22.09.2004.
3   F.No.8/97/2010-PFRDA, Dt.17.04.2012 of PFRDA, New Delhi.

4   Govt         Circular         Memo         No.30857/422/Pen.I/A2/2010,

Dt.08.03.2010.

5   Lr.No.D(II)1/3058/2013, Dt.04.02.2014 of the DTA, AP, Hyd.

*

O R D E R:

In  the  G.O.  1^st  read  above,  Government  have  introduced  New Pension  Scheme  (CPS)  to  the  AP  Government  employees  who  were appointed  on  or  after 01.09.2004.  In  the  G.O. 2^nd  read  above,Government  have  issued  operational  guidelines.  In  the  New  Pension scheme each employee shall pay a monthly contribution of 10% basic Pay + DA from his salary and the Government will contribute an equal amount as its share.

2.      In  the  reference  3^rd read above the Provident Fund Regulatory Development  Authority  (PFRDA)  has  proposed  an  interim  procedure and accordingly the Government in the reference 4^th read above, have issued  instructions  of  interim  procedure  pending  finalization  of  the Guidelines.

3.      In  the  reference  5^th  read  above  the  Director  of  Treasuries and Accounts  (DTA) has requested to consider the guidelines as proposed by the PFRDA and requested to issue orders on withdrawal procedures consequent to instructions issued vide reference 4^th read above.

4.      Government,  after  careful  consideration  of  the  matter,  hereby prescribe the Exit guidelines and the procedures to be followed by the stake   holders   for   submitting   and   forwarding   exit /   withdrawal

proposals  as  per  the  guidelines  contained  in  Annexure-I  and  II enclosed  herewith.    Accordingly  Government  hereby  withdraw  the instructions  issued  in  the  Circular  Memo  4^th read  above. However,  if any payments are made in the past, they have to be adjusted against the accumulated funds in CPS.

5.      All the Drawing and Disbursing Officers and Treasury Officers are requested to take necessary action immediately.

6. The Government Order is available on internet and can be accessed at the address http://goir.ap.gov.in.

[BY ORDER AND IN THE NAME OF THE GOVERNOR OF ANDRHA PRADESH]

DR. P.V. RAMESH

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