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| Draconian New Recruitment Policy gone, but New pension scheme stays | | |
Srinagar, May 21, Facing sharp censure from the educated youth, the government Wednesday scrapped the New Recruitment Policy, however, the appointees recruited in Jammu and Kashmir on or after January 1, 2010 would not be entitled to pensionary benefits, including pension, family pension and death-cum-retirement gratuity, under the New Pension Scheme (NPS). Chief Secretary of the State Muhammad Iqbal Khandey told that the provisions of 'New Pension Scheme' (NPS) would be applicable on all the appointees rather employees. "The government replaced 'Old Pension Scheme' (OPS) with NPS from January 1, 2010 and this NPS will be applicable on all the employees who got recruited or will get recruited from January 2010," he said. The employees appointed or brought on regular establishment on or after January 1, 2010, are governed by Defined Contributory Pension Scheme (DCPS) according to which provisions regarding grant of gratuity and death-cum-retirement gratuity won't be applicable to them and no family pension/death cum-retirement-gratuity services would be available to the family members of the employees. NPS was implemented after State's pension bill witnessed a quantum jump in past two decades. The NPS is regulated by Central Record keeping Agency (CRA) of the National Securities Depository Limited (NSDL) with its headquarters centred at Mumbai. |
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