Govt: Clear unsettled balance of NPS funds

Jaipur: The State Insurance Provident Fund (SIPF) has issued an order asking the officials to settle the unsettled balance (legacy data) of the New Pension Scheme (NPS) by depositing employees’ contribution in the General Provident Fund (GPF), 2004, and government’s contribution in the state’s budget head.
According to officials, the legacy data (the NPS funds that is to be deposited in NSDL) is around Rs 30 crore.
The SIPF order also stated that employees who retired before April 1, 2022, willing to opt for old pension scheme (OPS), and have already withdrawn pension under NPS, are required to deposit the amount in the state fund. It also stated that employees, who have not withdrawn money under NPS, are required to withdraw money from the NPS fund and deposit it again in the state fund.
The old pension scheme was restored in the state from April 1. On September 6, the finance department had issued a circular asking the state government employees — appointed on and after January 1, 2004 — who had withdrawn the money under the New Pension Scheme (NPS) between April 1, 2022 and August 28, 2022 to return the money by December 31, 2022. The date has now been extended up to March 31, 2023.
New Pension Scheme Employees’ Federation of Rajasthan state coordinator Vinod Kumar said, “We believe the government should ask the employees to deposit 50% of the total pension (government’s contribution) and not the employees’ contribution, which was withdrawn.”