Government updates contribution rules for National Pension Scheme for central employees
timesnownews.com — October 11, 2024, 09:01 AM UTC
The Ministry of Personnel, Public Grievances, and Pensions announced new rules on October 7, 2024, for central government employees' contributions to the National Pension Scheme (NPS). Employees must contribute 10% of their monthly salary, rounded to the nearest rupee. Contributions will begin during the probation period, and employees can continue contributing while suspended. Any delays in crediting contributions will include interest, and discrepancies will be added to the pension account. The Department of Pensions and Pensioners’ Welfare urged ministries to ensure compliance with the new guidelines. Monthly deductions will be managed by designated officers, with specific timelines set for March.