1. PRESENTATION ON NEW PENSION SCHEME BY WREU
Presented By:
Vinod Manjrawala
Secretary PRTN Workshop, Divisional Jt. Secy.-BRC & CSBF Member
Contact No (M) ;
Motivation By:
Com. Umraomal Purohit ; Com. J. R. Bhosale
Santosh Pawar, Vikash Gupte, Sadhana Trivedi 1

2. Objective & Reference
To be made aware about various features of the New Pension System including the facilities available to becoming IRA or non-IRA compliant.
Ref: WR HQ L.No.E(NPS)774/0 dated (PS-172/2010). 2

3. New Pension Scheme-Orders
New pension scheme introduced in Central Government services including Railway service vide Finance Ministry (Department of Economic Affairs) Gazette notification No. 5/7/2003-ECB&PR dated (Sr.No.5 in section 1).
Existing Railway Service (Pension) Rules, 1993 including Commutation of Pension Rules & Extraordinary Pension Rules and State Railway Provident Fund Rules contained in IREC, Vol.I(1985 Ed)(1995 reprint) shall not be applicable to new recruits entering in railway from (Ref: R.B.L.No.F(E)III/2003/PN1/24 dated (RBO 225/2003) 3

4. It is called contributory pension system. Effective from
NPS Type & Effective
It is called contributory
pension system.
Effective from
& onwards
recruited employees 4

5. Salient Feature of New Pension System-1
Based on defined contribution – which will use the existing network of branches and post office etc., to collect contributions and interact with participants allowing transfer of the benefits in case of change of employment and offer a basket of pension choices.
System is mandatory for all Govt. employees who join on after
It has two Tiers i.e. Tier-I & Tier-II
In Tier-I, Govt. employee shall make compulsory 10% of salary
(Basic pay ) + DA & matching contribution will be made by Govt (investment) for other then running & doctors.
(Basic pay + 30% Running Allowance) + DA & matching contribution will be made by Govt (investment) for running staff.
(Basic pay) + DA +NDA & matching contribution will be made by Govt (investment) for Doctors.
From to % of salary (Basic pay) + DP + DA +NDA 5

6. Salient Feature of New Pension System-2
From Band Pay + grade pay + DA + NPA (if admissible).
The contribution + investment deposited in non-withdrawal pension Tier-I account.
Existing benefit of pension/SRPF/GPF not available to new recruits on or after
Tax benefit allowed on Tier-I only for contribution, accruals but terminal benefits will be taxed at applicable rate of financial year.
Tier-II is withdrawal account on option of Govt. employee & no any contribution in this account from Govt. In Tier-II, Govt employee is free to withdraw part or whole of the money any time. Tax benefit not allowed.
A govt. employee covered under new system can exist at or after attaining the age of 60 yrs from Tier-I. 6

7. Salient Feature of New Pension System-3
At exist from Tier –I :
At the age of 60 years: it is mandatory for individual to invest 40% of the pension wealth to purchase an annuity from IRDA (Insurance Regulatory & development Authority) Which will provide for pension for the life time of the employee and his dependent parents/spouse at the time of retirement.
Before attaining the age of 60 years: the mandatory annuitisation would be 80% of the pension wealth. 7

8. Salient Feature of New Pension System-4
On death cases: own contribution + Government investment + 8% p.a. on both (i.e. own contribution + Government investment) to be paid to the legal heirs.
If employee die or become permanently disabled during service then he is eligible for Additional Relief on death/disability of Government servants covered by the NPS(New Pension Scheme) recruited on or after for provisional pension; gratuity etc.,(No. 38/41/06/ P&PW(A) dtd 5th May, 2009)(PS-RBA-31/2009 No. 2008/AC/II/21 /19 dtd ). 8

9. Salient Feature of NPS-5
An independent Pension Fund Regulatory and Development Authority (PFRDA) will regulate & develop the pension market.
Contribution deduction shall be effected from 1st of the following month of recruitment. No deduction in recruitment month.
Immediately on joining service, bill preparing officer will prepare service sheet & fill up PPAN / PRAN (Permanent Pension/Retirement Account Number) form (S1) & submit to Associate Account for allotment of PPAN / PRAN number within month time. PRAN allotting authority is PFRDA / NSDL. PRAN (S1) form is to be attach with Service Sheet/book which comprise of nomination also. 9

10. Salient Feature of NPS-6
PRAN is unique number allotted to each employees remain same for change of employment also.
All details of your contribution & govt. share & investment details, latest balance etc can be seen on web site with the help of PRAN (With I-Pin & Pass word).
FA&CAO i.e. nodal officer of zone & Dy.CAO i.e. nodal officer of HQ office is made responsible for issue suitable instruction at local levels.
16 digit PPAN is to be allotted for contribution of employee & government share by associated account.
Associate account officer will maintain Index register which indicates name of employee, DOB, designation, name of office, pay band, grade pay, and nominee of pension fund & PRAN/PPAN at the time of recruitment. 10

11. Salient Feature of NPS-7
Bill Unit will advise PRAN(12 digits number)/PPAN (16 digits number ) to concern employee first time.
Separate pay bills for Old & NPS as per today’s system.
Interest rate of GPF time to time is applicable to NPS till set up of system & then based on options/returns.
On transfer & change of job: balance transferred to new unit/employer, PRAN number & up to which month contribution made is to be advised only.
Tier-I can leave in case of resignation/left government service only. Now can be continue in others services.
Tier-I contribution can be continue after age of 60 yrs but government investment will be ceased on reaching at age of 60 yrs. 11

12. Salient Feature of NPS-8
RPF staff also governs under NPS from
Compassionate ground appointment is also available to NPS govern staff as it is govern by other rules.
From date of regularization in service, Contribution started.
Contribution on Arrear of DA & Pay is also permissible in new NPS.
PRRDA will decide about nominee & beneficiaries of NPS for pension to spouse & dependent parents. (Ref: RBE-05/2004 L.No. E(NG)II/2004/CL/16/Policy dated ; RBE-21/2004 L.No. 2004/AC-II/21/1 dated & RBA-39/2006 L.No. 2004/AC-II/21/1 dated ). 12

13. Salient Feature of NPS-9
Leave encashment is admissible similar as existing rules as this is govern under leave rules (RBE-21/2004 & RBA-19/2004 Bd’s No. 2004/AS-II/21/1 dated ).
Retirement gratuity is admissible to NPS (RBA-39/2006 Bd’s No. 2004/AC-II/21/1 dated )
Counting of half period/length of qualifying service for the purpose of retirement in case of substitute & temporary is no more useful due to NPS. (RBE-205/2004 & Bd’s No. E(NG)II/2004CL/16/Policy dated ).
NPS not applicable to substitute & monthly rated casual labour unless they are regularised. (RBA-43/2004 Bd’s No. 2004/AC-II/21/1 dated ). 13

14. Salient Feature of NPS-10
Employee recruited prior to as Apprentice & absorbed or accepted new appointment by giving technical resignation as on or after is governed under old pension system. (RBE-163/2005 Bd’s No. F(E)III/2005/PN1/35 dated & F(E)III/84/PN1/4 dated ).
A military personnel who have been re-employed in civil or railway service on after as fresh appointees will be governed under NPS (RBA-40/2006 Bd’s No. 2004/AC-II/21/1Pt.II dated ).
CENTRAL GOVERNMENT EMPLOYEES WELFARE HOUSING ORGANISATION (CGEWHO) –NPS employee is also eligible Para 4 (vii) of Greater Noida Housing Scheme Rules/Brochure. 14

15. NPS & Instructions related website
Instructions is also uploaded on the Railway website at  Railway Board Directorates  Accounts  NPS. 15

16. PPAN allotment system
Allotment of Permanent Pension Account Number to Railway Employee appointed as on & onwards (16 digit number issued by Associated Account)
(From left to Right)
1st to 04th digits - Calendar Year of allotment
05th digit Ministry code by CGA - 5 for Railway
6th to 8th digits - Zone / PUs code-0 + existing Rly code
9th to 11th digits - Associate account code by FA&CAO
12th to 16th digits - Employee code starting from 00001
running from January to December 16

17. IRA Complaint Subscriber
A subscriber who has registered by duty filling up the Subscriber Registration Form (S1) and whose address, photograph and signature are maintained in Central Recordkeeping Agency (CRA) system is termed as IRA Complaint subscriber. These subscribers have a PRAN Card issued by CRA.

18. Non-IRA Complaint Subscriber
Subscriber who is not having any PRAN Card is termed as Non-IRA Compliant subscriber. 18

19. PRAN CARD To IRA Complaint Subscriber
CRA issues a PRAN Card to all IRA compliant Subscribers which contain PRAN, subscriber's name, father's name, photograph and signature / thumb impression.
Copy of PRAN Card eliminates the requirement of proof of identity, proof of address and proof of age during Tier II activation.
Copy of PRAN card is mandatory for withdrawals from Tier II account
in case of internal transfers within different departments, PRAN card allows the nodal office to start monthly contribution upload before receipt of Last Pay Certificate (LPC). 19

20. SMS and E-mail Alerts To IRA Complaint Subscriber
IRA compliant subscribers can register their mobile number and id in CRA system and avail the facility of SMS and alert.
Whenever a contribution is credited in the NPS account SMS and alerts are sent to the subscriber.
The facility is a available for both Tier-I and Tier-II account
Alerts corresponding to contribution in Tier-I help subscribers to keep a track of monthly contributions.
CRA does not charge anything for the SMS and alert. This value added service is absolutely free. 20

21. I-PIN To IRA Complaint Subscriber
CRA issues I-PIN to all IRA compliant subscribers which can be used by them for the following.
Access the CRA system and check the account details like address, bank account details and nomination details for both Tier -I and Tier-II .
Subscribers can generate statement of holding for both Tier -I and Tier -II which given them the latest valuation of their total investment.
Subscribers can generate Statement of Transaction for the last three financial years including the current financial year for both Tier -I and Tier -II accounts.
Subscribers can track the credit of monthly contribution into their Tier -I account.
Subscribers can register a complaint is raised, system generates a token number which can be used later on to track status of the complaint. 21

22. T-PIN To IRA Complaint Subscriber
CRA also issues T-PIN to all IRA compliant subscribers which can be used by them to speak to out customer service executives at our Toll-free helpline for any query or complaint. They can also use the same T-PIN to access the Interactive Voice Response (IVR) system and avail the services listed below:
Change of T-PIN
Check holding details
Check the status of any scheme preference or account details change request
Check details of last contribution credit
Check details of last withdrawal request (for Tier II only)
Request for Statement of transaction for last 3 financial years 22

23. Yearly Statement of Transaction To IRA Complaint Subscriber
For IRA compliant subscribers, Annual Account Statements are sent directly to the subscriber's registered address.
But for non-IRA compliant subscribers, the statement is sent to the concerned PAO.
The Annual Account Statement also contains the details all the changes such as change in nomination etc., happened in the account during that period. 23

24. How to become an IRA Compliant Subscriber
If you are still not an IRA Compliant subscriber, please submit a duly filled S1 from to your DDO.
The form will be forwarded to a CRA – Facilitation Centres after authorisation by the concerned PAO. PRAN will be generated and the PRAN card will be printed and despatched to the concerned PAO within 20 days from the date of receipt of duly filled registration form at the CRA – Facilitation Centre.
It is expected in the next 15 days the PAOs will ensure that the PRAN cards are provided to the DDOs for onward distribution to the subscribers. 24

25. NEW PENSION SYSTEM
Government of India has started the New Pension System (NPS) in 2004.
As a subscriber of NPS, you enjoy various facilities and rights including online access to you account, annual statement of transaction, portability across jobs and locations, platform to raise grievance etc.
Under NPS two types of accounts are available
(a) Tier - I account
(b) Tier – II account
Tier I account for employees joined service on or after January 1, 2004 25

26. NPS Conditions
All who have joined service in Railways on or after January 1, 2004, are mandatorily covered under NPS.
Your monthly contribution towards pension is deducted from your salary. Monthly deduction along with your employer's contribution is being invested in schemes of three PFMs as decided by PFRDA.
These PFMs in return allot units which are credited in your Permanent Retirement account (PRAN) referred to as Tier I account.
At present, at least 85% of your pension wealth is invested in debt instruments and up to 15% in equity and equity linked mutual funds.
Any subscriber in NPS having an active Tier-I account has the option to open an investment and trading account referred to as 'Tier-II account' 26

27. TIER II Account
Tier II is a Pension Savings Account, with a facility for withdrawal to meet financial contingencies.
Interfacing entity for Tier II account
PFRDA has appointed various banks and financial institutes as Point of Presence – POP (similar to a PAO for your Tier I account). The registered branches of the POP are termed as Point of Presence Service Provider – POPSP (similar to a DDO for your Tier I account). The list of POPSPs and ktheir contact details are available in CRA website
Once you submit your Tier II activation request to a POP-SP, it becomes your associated POP-SP. For any request related to Tier II account, you need to contact your associated POPSP. However, you can submit your request for contribution to any POPSP of any POP.
At present there are more than 4000 POP-SPs located across the country. 27

28. Opening a Tier II account
Tier II account is a voluntary saving facility wherein the withdrawal is as per subscriber's choice. Any government employee who is mandatorily covered under NPS can activate the Tier II account by submitting duly filled from UOS-S10 along with the copy of PRAN Card and initial contribution of Rs.1000/- to any POP-SP. 28

29. Key features of Tier II account
You can enjoy unlimited number of withdrawals depending upon your requirements. The only criteria is that you have to maintain a minimum balance of Rs.2000 at the end of Financial Year i.e., as on March 31st
Minimum amount for contribution is Rs.250/- and minimum 04 contributions to be made in a financial year.
Separate nomination details and scheme preference at possible for Tier II
Contributions can be made through any POP/POP-SP
You can access your account details through internet and telephone using the same I-PIN and T-PIN received for Tier I account
You can have a consolidated account statement for Tier -I and Tier-II
For Tier -II account, no additional CRA charges for annual account maintenance 29

30. Choice of fund managers
NPS offers you a choice of six fund managers as well as two approaches to invest in your account
Scheme Preference :
NPS allows you to choose from any one of the following six entities to manage your pension fund :-
(1) ICICI Prudential Pension Funds Management Company Ltd
(2) IDFC Pension Fund Management Company Limited
(3) Kotak Mahindra Pension Fund Limited
(4) Reliance Capital Pension Fund Limited
(5) SBI Pension Funds Private Limited
(6) UTI Retirement Solutions Limited
The NPS offers you two approaches to invest in your account :-
(a) Active choice – Individual Funds
(b) Auto choice – Lifecycle Fund 30

31. Active choice–Individual Funds
You will have the option to actively decide as to how your NPS pension wealth is to be invested in the following three options :
E- "High return, medium risk " – investments in predominantly
equity market instruments
C -"Medium return, medium risk“ –investments in predominantly
fixed income bearing instruments
G -"Low return, Low risk" – investments in purely fixed income
instruments.
You can choose to invest your entire pension wealth in C or G asset classes and up to a maximum of 50% in equity (Asset class E). You can also distribute your pension wealth across E, C and G asset classes, subject to such conditions as may be prescribed by PFRDA.
In case you decide to actively exercise your chose about investment options, you shall be required to mandatorily indicate your choice of Pension Fund from among the six Pension Funds appointed by PFRDA. 31

32. Auto choice – Lifecycle Fund
NPS offers an easy option for those participants who do not with a specify the allocation for their NPS investments. In case you are unwilling to exercise any choice, your funds will be invested in accordance with the Auto Choice option. You will, however, be required to indicate your choice of PFM. In case you do not do so, your form shall not be accepted by the POP-SP.
In this option, the investments will be made in a life-cycle fund. Here, the percentage of funds invested across three asset classes will be determined by a pre-defined portfolio. At the lowest age of entry (18 years), the auto choice will entail investment of 50% of pension wealth in "E" Class, 30% in "C" Class and 20% in "G" Class. These ratios of investment will remain fixed for all contributions until the participant reaches the age of 36. From age 36 onwards, the weight in "E" and "C" asset class will decrease annual and the weight in "G" class will increase annually till it reaches 10% in "E", 10% in "C" and 80% in "G" class at age 55. The details of the asset allocation with respect to age is given in table in next slide. 32

33. Table for Lifecycle Fund
Neither the Active Choice nor the Auto Choice provides assured returns.
While exercising an Active Choice, remember that your investment allocation is one of the most important factors affecting the growth of your pension wealth. Please refer to the offer document for details on the risk involved.
Age
Asset
Class - E
Class - C
Class - G
Class - E
Class -G
up to 35 years
50 %
30 %
20 %
46 years
28 %
19 %
53 %
36 years
48%
29%
23%
47 years
26 %
18 %
56 %
37 years
46 %
48 years
24 %
17 %
59 %
38 years
44 %
27 %
29 %
49 years
22 %
16 %
62 %
39 years
42 %
32 %
50 years
15 %
65 %
40 years
40 %
25 %
35 %
51 years
14 %
68 %
41 years
38 %
52 years
13 %
71 %
42 years
36 %
23 %
41 %
53 years
12 %
74 %
43 years
34 %
54 years
11 %
77 %
44 years
21 %
47 %
55 years & Above
10 %
80 %
45 years 33

34. Transactions in Tier II Account
Description
Contribution
You can contribute a minimum amount of Rs.250/- and the contribution request in NPS Contribution Instruction Slip can be deposited to any POP-SP.
Minimum number of contributions in a year is 04; however minimum of only 01 contribution is mandatory in case a subscriber joins in the last quarter of a financial year.
There will be a time lag between the time you deposit Cash/ Cheque / Demand Draft with the POP-SP and the time of credit of units to your Tier II account which may rang up to 7 working days contribution.
Withdrawal
At any given point of time you can avail withdrawal facility. The accumulated units in your account can be withdrawn as per your requirement. The steps for withdrawal from Tier II account is given below :
You are requested to submit a written request (Form-UOS-S12, available at the CRA website to the POP-SP with whom you are associated.
The correct details and the type of withdrawal (partial/complete) needs to be mentioned in the request form (Form-UOS-S12)
Redemption (units withdrawal) will happen on T or T+1 depending on authorization of request before or after 1.30 pm. T being the date of execution of your request by the POP-SP.
Latest available NAV will be considered for units' redemption. On T+3, funds will transferred to the bank account of Trustee.
Bank which will transfer the funds to your registered banks account provided by you during Tier-II activation. 34

35. Transactions in Tier II Account
Change of Subscriber details
You can change nomination details and bank details by submitting a duly filled UoS-S2 form to the associated POP-SP
Change of POP / POP-SP
You can change the associated POP-SP by either submitting a request to the POP-SP to whom the account is mapped or by submitting a request to the new POP-SP to whom you want the account to be associated with.
Change of Scheme Preference
You can switch from one option (PFMs, Investment approach and asset allocation) to another, but such transaction can be made only once a financial year. 35

36. Charges for Tier II * plus applicable taxes
The transaction charges of CRA as well as the POP charges are same as of Tier I Account as given below :
* plus applicable taxes
Intermediary
Charge head
Charges(Rs.)
Mode of recovery
CRA
A/C Opening Charge & AMC
Nil
Through cancellation of units on a quarterly basis.
Charge Per transaction 6*
POP (Maximum Permissible Charge for each Subscriber)
Charges for Tier II activation
20*
To be collected upfront 36

37. Employees joined before January 1, 2004 – Option of NPS
If you have joined service in Railways before January 1, 2004, you are not mandatorily covered under NPS. Nevertheless you can join NPS on your own under "All Citizens of India" through any ; Point of Presence Service Provider (POP-SP). At the time of joining, you can open only Tier I a/c or both Tier I & Tier II account together. The feature for your Tier I account will differ from those who joined service on or after January 1, However, all the features as mentioned above for Tier II account will be available to you. For details of the features of your Tier I account, please refer to the Offer Document for "All Citizens of India" on website The forms, list of POP-SPs and their contact details are also available in website.
No. E(NPS) 774/0 dated P.S.No.172/2010 Railway Board's letter No. 2009/AC-II/21/6 dt (RBA No.31/2010). 37

38. Pleas enter your 12 digit PRAN Number
: Subscriber Login
User ID
Pass word
Submit Reset
Forget password ?
Check Grievance Status
Check Status using Receipt Number
Help/ Instruction for login
Pleas enter your 12 digit PRAN Number 38

39. Change pass word First time / Expired
Your Password has expired. Please change your password.
* Mandatory Fields
Current Password *
New Password *
Confirm New Password *
Submit Reset 39

40. Welcome to Subsciber
Welcome subscriber XX-YYY-ZZZZ Home / Logout
Security Change Password Change Secret Q/A
Account Details Personal Details Statement of Transaction - T2
Grievance Log Grievance Request Grievance Status View
Views Scheme NAV Details Request Status - View Subscriber Tier-2 Details Statement of Transaction Pre Unitization SOT
User Maintenance Request Status View 40

41. Details of Drop box issues
Security Change pass word
2. Change Secret Q/A
Account details (click) 1. Personal details
2. Statement of transaction
Subscriber Details:
PRAN [Status: Active ] PAN ACIPY0936F
Name SHRI RITESH RAJENDRAPRASAD YADAV Father's Name RAJENDRAPRASAD SUKHURAM YADAV
Gender Male Date of Birth Jun-1986
Correspondence Address B-21 , JANPATH NAGAR , Permanent Address B-21 , JANPATH NAGAR , (Communication Address) DANTESHWAR DANTESHWAR, PRATAPNAGAR ,
PRATAPNAGAR, VADODARA VADODARA, Gujarat, India
Gujarat, India
Phone No Fax No.
Mobile No Id
SMS Subscription Flag No
 Current Status of Subscriber Remarks
Nominee 1
Name SMITHEERAVANTHI DHEVI  RAJENDRAPRASAD  YADAV  Date of Birth
Relationship MOTHER Percentage Share %
Major/Minor Major Guardian Name
Nominee Invalid Condition UPON MARRIAGE
Account No Bank Name BANK OF BARODA
Bank Branch PRATAPNAGAR BRANCH
Bank Address PRATAPNAGAR BRANCH VADODARA MICR Code Pin Code
Bank Account Type SAVINGS 41

42. Scheme Preference Type
DEFAULT SCHEME SET-UP
PFM Name PFM ID Scheme Name Scheme ID Percentage Contribution
SBI PENSION PFM SBI PENSION FUND SM
FUNDS PRIVATE SCHEME –
LIMITED CENTRAL GOVT
LIC PENSION PFM LIC PENSION FUND SM
FUND LIMITED SCHEME –
CENTRAL GOVT
UTI RETIREMENT PFM002 UTI RETIREMENT SM
SOLUTIONS PENSION FUND SCHEME-
LIMITED CENTRAL GOVT 42

43. Web details Grievances ----1. Log grievances request
2. Grievances status view
Views Scheme NAV (Net Asset Value) details Request status view
3. Subscriber tier -2 details
4. Statement of transaction
5. pre utilization SOT
User Maintenance Request status view 43

44. Statement sample
Transaction Statement for the period of April 1, 2008 to July 13, 2012
PRAN: Name: RITESH RAJENDRAPRASAD YADAV
Status: IRA compliant B-21 JANPATH NAGAR DANTESHWAR, PRATAPNAGAR, VADODARA, Gujarat – , India
Statement Date: Jul 14, :47 PM
From 01-Apr To 13-Jul-2012
Change in Subscriber Details - No Records Found in Selected Period
Tier-1 Details
Change in Tier details - No Records Found in Selected Period
A) Accumulated Contribution up to March 31, 2008 (Legacy Amount) : Rs No Records Found in Selected Period 44

45. Monthly transaction details-1
B) Transaction details - Regular (Monthly Contribution)
Date Contribution month Contribution Total (Rs.) SBI Pension Fund Pvt Ltd UTI Retirement Solution Ltd LIC Pension Fund Pvt Ltd
and year Emp (Rs.)Govt(Rs.) Amount(Rs.)NAV(Rs.)Units Amount(Rs.)NAV (Rs.)Units Amount(Rs.)NAV(Rs.)Units
17/9/ August
14/10/10 September
16/11/ October
09/12/10 November
TOTAL
C) Transaction details - Arrears Contribution
17/09/10 JULY CONTRIBUTION
09/12/ D.A
12/09/ PAY ARREAR
14/11/ D.A Arrear
D) Withdrawal details summary No Records Found in Selected Period 45

46. Monthly transaction details-2
(E) Present Value of Total Contribution
Particulars Total (Rs.) SBI Pension Fund Pvt Ltd UTI Retirement Solution Ltd LIC Pension Fund Pvt Ltd
Amount(Rs.)NAV(Rs.)Units Amount(Rs.)NAV (Rs.)Units Amount(Rs.)NAV(Rs.)Units
Total Accumulated
Balance as
on March
31, 2008 (Block A)
Total Regular
Contribution (Block B)
Total Arrears
Contribution (Block C)
Total Contribution as
on 13/07/
NAV as on 13/07/
Total value
as on 13/07/
 The Date appearing against the credit is the NAV date i.e., date of Investment. The units shown against the credits are calculated based on the NAV (as mentioned) as on that date.  
This is a computer generated statement and does not require any signature. 46

47. Monthly transaction Note
On May 1, 2009, PFRDA had revised the allocation ratio of funds (contribution remitted by the PAOs/CDDOs) from 55:40:05 to 40:31:29 for the three PFMs - SBI, UTI and LIC respectively.
On July 19, 2010, PFRDA has revised the allocation ratio of funds (contribution remitted by the PAOs/CDDOs) from 40:31:29 to 33:32:35 for the three PFMs - SBI, UTI and LIC respectively.
On July 01, 2011, PFRDA has revised the allocation ratio of funds (contribution remitted by the PAOs/CDDOs) from 33:32:35 to 32.5:34:33.5 for the three PFMs - SBI, UTI and LIC respectively.
The balances reflecting in your account are based on the contribution amount uploaded by your uploading office (PAO/CDDO). In case there is no/less/excess contribution for any month, please contact your uploading office (PAO/CDDO).
The narration appearing in the Arrear contributions is as mentioned by your office at the time of giving/uploading information to CRA. In case you do not find clarity in the narration provided, you may kindly contact your PrAO/PAO/CDDO.
There may be more than one credit appearing against a month. This is due to monthly subscription contribution being sent through multiple fund transfers on different days by the PAO/CDDO.
In case you have not filled up S1 form for registration, please fill up the same and submit to your PAO/CDDO.
In case of any other queries, you may contact CRA toll free. helpline 47

48. Legends Term Description
Legacy Amount The contributions accumulated up to March 31, (except for
Department of Post) and transferred to NPS by your uploading office
(PrAO/PAO).For Department of Post, contributions accumulated up to
August 31, 2008 and transferred to NPS by your uploading office
(PrAO/PAO).
Arrears Contributions transferred to NPS as an arrear for the previous months
by your uploading office (PAO/CDDO) on account of pay, pay revision
etc. as reflected in the "Particular" column.
Residue amount Amount credited in your account for compensating the residue
generated amount generated against your contributions. Residue is generated
re-credited due to arithmetical limitation of distributing the contributions
exactly as per the allocation ratio to the PFMs. PFRDA has re-credited
residue amount to PRANs having residue of Re 1.00 and above.
NAV Net Asset Value is the underlying value of one unit, it is computed
daily based on the closing market prices of the securities in the fund's
portfolio. The daily NAV is available at Current value of Contribution in a Scheme = Current NAV of the scheme x Total Units in the Scheme. 48

49. NPS subscribers of Railway
Number of employee govern under NPS As on date:
Indian Railways : approximately 2,73,000 employees
Central & states: more than 16 lakhs
Number of employee will likely to govern under NPS :(in next two yrs)
Indian Railways : approximately 4,00,000 employees
Western Railway : approximately as on
HQ- 363 ; BCT-6410; BRC-2892; RTM-3617; ADI-3705; RJT-1375;
BVP- 1297; CCG S&C- 43 others : 200 approximately
Workshops: PL-782; PRTN-82; SBI-172; BVP-67; DHD-617

50. Rate of Returns of NPS Returns of NPS year wise : 2004-2008 08.00%% % % % %

51. Doubts & Quarry Place your queries one by one.
Place your doubts one by one.
Place your queries one by one.
Use reference letters & website for more details. 51

52. Comparison of New & Old Pension Scheme
S.N.
Details
Old Pension Scheme
NPS 01
Contribution of Employee
Nil
10% of Basic + DA +RA-NPA 02
Pension guarantee
Yes by Govt. No 03
Amount of Pension
50% of last Pay
As per share price 04
Pension decide by
Government
Share Market / PFMs 05
On Price rise
Dearness Relief given 06
Amount of Commutation
Up to 40% allowed 07
PF Eligibility
Yes 08
PF withdrawal
PF Temp: within 15 years
PF Final: After 15 years
Tier -I Nil, Tier-2 withdrawable

53. Comparison of New & Old Pension Scheme
S.N.
Details
Old Pension Scheme
New Pension scheme 09
On death of Pensioners
Family pension givens
Nothing, Now Provision subjected to Govt. decision 10
For Running staff
55% added to Basic Pay No 11
Fees and charges
Nil
Fees will be deducted for CRA (NSDL) & Pension Fund Managers 12
Gratuity
Yes, On death it is doubled
No.
Provisional allowed 13
Applicable from

54. Comparison of New & Old Pension Scheme
S.N.
Details
Old Pension Scheme
New Pension scheme 14
Tier & Account
Only one account in rly
Tier-I (Non-withdrawal) & II(withdrawal)- With CRA 15
Tax
Tax rebate on all deduction
Tax rebate on Tier-I & No Tax rebate on Tier-2 16
Pension
Spouse. Unmarried /widow/Divorce daughter, Mentally retarded Son/daughter, mother father
Spouse, mother father 17
Correction
Simple & within Rly
Tedious & with NSDLS 18
Regular / Voluntarily retirement
Equal benefit
On 60 yrs 60% paid
Prior to 60yrs only 20% paid

55. Comparison of New & Old Pension Scheme
S.N.
Details
Old Pension Scheme
New Pension scheme 19
Education
Easy even for illiterate
Hardship for illiterate 20
Responsibility
Associated Account
Transferable 21
Medical facility after Retirement
RELHS-97
RELHS-97 applicable & Mandatory
RELHS-97 applicable not applicable- Insurance is under consideration 22 23

56. The End
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