Haryana to introduce new pension scheme

Written by:
Subscribe to Oneindia News

Chandigarh, Aug 18 (UNI) The Haryana government today decided to introduce a new pension scheme for all its employees who have joined service on or after January 1, 2006.

A decision to this effect was taken in a meeting of the state cabinet which met under the chairmanship of Chief Minister Bhupinder Singh Hooda here today.

An official spokesman said the new pension scheme would be implemented on the pattern of thr Central government and known as the Haryana New Pension Scheme, 2008. It will work on defined contribution basis and would have two tiers-- Tier-I and Tier-II.

Contribution to Tier-I is mandatory for all government servants who have joined service on January 1, 2006 or afterwards. Under Tier-I, a government servant would have to make a contribution of ten per cent of his basic pay plus dearness pay and dearness allowance, which would be deducted from his salary bill every month by the Drawing and Disbursing Officer.

A matching contribution would be made by the state government for each government servant who contributes to the scheme.

The Tier-II of the new pension scheme would not be operational at present and no recoveries would be made from the salaries of the government servants on this account. No deduction would be made towards General Provident Fund contribution from the Government servants joining the service on or after January 1, 2006 as the General Provident Fund scheme is not applicable to them.

The account of new pension scheme would not be mixed up with General Provident Fund accounts and their records or ledger accounts would be independent of General Provident Fund accounts.

No withdrawal of any amount would be allowed from the deposits under Tier-I. The Accountant General (Accounts and Entitlement) maintain the accounts for the Contributory Pension Scheme.


Please Wait while comments are loading...