New Delhi, July 31 (UNI) The government today announced a pension scheme for the regular employees of the Navodaya Vidyalaya Samiti (NVS).
A meeting of the Union Cabinet, chaired by Prime Minister Manmohan Singh, gave its approval for the introduction of a new pension scheme to all regular NVS employees joining NVS after the date of notification.
It also gave its approval for giving an option to the regular employees of NVS as on the date of notification of the new pension scheme to either continue with the existing Central Provident Fund (CPF) Scheme or join the new pension scheme, Information and Broadcasting Minister Priyaranjan Dasmunsi told mediapersons.
In the case of those who were already working with NVS, the amount accumulated in the CPF account of the employee would be transferred to the pension fund under the new pension scheme.
''The service of all new NVS employees will become pensionable.
The existing employees will have the option to switch over to the new pension scheme,'' Mr Dasmunsi said.
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