Central Civil Services (Implementation of National Pension System) Rules 2021
MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES AND PENSIONS
(Department of Pension and Pensioners’ Welfare)
NOTIFICATION
New Delhi, the 30th March, 2021
G.S.R. 227(E). – In exercise of the powers conferred by the proviso to article 309 and clause (5) of article 148 of the Constitution and after consultation with the Comptroller and Auditor-General of India in relation to persons serving in the Indian Audit and Accounts Department, the President hereby makes the following rules regulating the methods of implementation of National Pension System, namely:-
1. Short title and commencement. –
(1) These rules may be called the Central Civil Services (Implementation of National Pension System) Rules, 2021.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. Application. – Save as otherwise provided in these rules, these rules shall apply to the Government servants, including civilian Government servants in the Defence Services, appointed substantively to civil services and posts in connection with the affairs of the Union on or after 1st day of January, 2004, but shall not apply to,-
(a) Railway servants;
(b) persons in casual and daily rated employment;
(c) persons paid from contingencies;
(d) members of the All India Services;
(e) persons locally recruited for services in diplomatic, consular or other Indian establishments in
foreign countries;
(f) persons employed on contract;
(g) persons whose terms and conditions of service are regulated by or under the provisions of the Constitution or any other law for the time being in force; and
(h) persons to whom the Central Civil Services (Pension) Rules, 1972 apply in accordance with any special or general order issued by the Government.
3. Definitions. – In these rules, unless the context otherwise requires,-
(1)
(a)“Accredited Bank” in relation to a Ministry or Department or Union territory means the Reserve Bank or any bank which is appointed to transact business of the Government pertaining to that Ministry or Department or Union territory and is officially recognised for transfer of funds to the Trustee Bank;
(b) “Accumulated Pension Corpus” means the monetary value of the pension investments accumulated in the Individual Pension Account of a subscriber under the National Pension System;
(c) “Annuity” means periodic payment by the Annuity Service Provider to the subscriber on purchase of annuity plan out of the Accumulated Pension Corpus;
(d) “Annuity Service Provider” means a life insurance company registered and regulated by the Insurance Regulatory and Development Authority and empanelled by the Authority for providing Annuity services to the subscribers of the National Pension System;
(e) “Authority” means the Pension Fund Regulatory and Development Authority established under sub-section
(1) of section 3 of the Pension Fund Regulatory and Development Authority Act, 2013 (23 of 2013) and include interim Pension Fund Regulatory and Development Authority set up by the Central Government through Resolutions;
(f) “Central Recordkeeping Agency” means an agency registered under section 27 of Pension Fund Regulatory and Development Authority Act, 2013 to perform the functions of record keeping, accounting, administration and customer service for subscribers to schemes;
(g) “Drawing and Disbursing Officer” means a Head of Office and also any other Gazetted Officer so designated by a Department of the Central Government, a Head of Department or an Administrator, to draw bills and make payments on behalf of the Central Government. The term shall also include a Head of Department or an Administrator where he himself discharges such function;
(h) “Cheque Drawing and Disbursing Officer” means a drawing and disbursing officer functioning under a Ministry or Department (including Central Public Works Department, Forest Department and Departments in which the provisions of Central Public Works Account Code are authorised to be followed) or a Union territory, who is authorised to withdraw money for specified types of payments against an assignment account opened in his favour in a specified branch of an accredited bank; Continue read…
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