NPS Monitoring Rule: The Department of Pension and Pensioners’ Welfare (DoPPW) has informed that an NPS oversight mechanism would be set up in each ministry and department to ensure proper monitoring of contributions made by central government employees towards the National Pension System (NPS).
The Monitoring Rule for NPS (National Pension System), under the NPS oversight mechanism, requires various ministries to submit six-monthly reports to the DoPPW to ensure that employee contributions are being maintained and managed accurately, according to an Office Memorandum shared by the Ministry of Personnel, Public Grievances and Pensions.
This NPS monitoring mechanism is aimed at ensuring that pension contributions by employees are timely and properly credited to their individual NPS accounts.
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It is advised that “an NPS oversight mechanism would be set up in each ministry/department to ensure proper monitoring of NPS contributions and ensuring that the same are regularly getting credited into the individual accounts of the employees covered under NPS and a six-monthly status report may be sent to the DoPPW,” the memorandum said.
DoPPW develops a portal for further facilitation
The DoPPW has circulated a prescribed format for the said report. Further, the DoPPW developed a portal for further facilitation. “It was requested to furnish details of nodal officers who would be handling the portal to this department and also to submit the six-monthly reports through the said portal. An user manual for handling the portal was also provided.”
The memorandum said that as many as 50 ministries and departments have furnished details of nodal officers who have been registered on the portal by the DoPPW. Further, 34 ministries and departments submitted their report online through the portal during the last six-monthly period. Now, the report for the six-monthly period from April, 2024 to September, 2024 is due for submission.
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