Benefit on absorption in or under a corporation, company or body: Rule 15 of Central civil Service (National Pension System) Rules, 2021
Benefit on absorption in or under a corporation, company or body: Rule 15 of Central Civil Services (CCS) (Implementation of National Pension System NPS) Rules 2021
MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES AND PENSIONS
(Department of Pension and Pensioners’ Welfare)
NOTIFICATION
New Delhi, the 30th March, 2021
15. Benefit on absorption in or under a corporation, company or body.
(1) A Subscriber who has been permitted to be absorbed in a service or post in or under a Corporation or Company wholly or substantially owned or controlled by the Central Government or a State Government or in or under a Body controlled or financed by the Central Government or a State Government, shall be deemed to have retired from service from the date of such absorption and shall be eligible to receive benefits under the National Pension System in accordance with the Pension Fund Regulatory and Development Authority ( Exits and Withdrawals under National Pension System) Regulations, 2015 as admissible in the case of exit of Subscriber on superannuation:
Provided that the Subscriber shall continue to subscribe to the National Pension System with the same Permanent Retirement Account Number in the new organisation if the same system exists in the new organisation and in that case he shall not receive any benefit under the National Pension System at the time of such absorption but shall receive benefits after exit from the new body or organisation, etc. where Subscriber has been absorbed :
Provided further that where the employees of such autonomous or statutory body or public sector undertaking are not covered by the National Pension System, such subscriber may, at his option, continue to subscribe to the National Pension System with the same Permanent Retirement Account Number as a non-Government subscriber, in accordance with the regulations notified by the Authority.
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(2) The provisions under sub-rule (1) shall also apply to the Subscribers who, on conversion of the Government Department in which they were working, into a public sector undertaking or autonomous body controlled or financed by the Central Government, are absorbed in such public sector undertaking or autonomous body.
(3) The provisions under sub-rule (1) shall also apply to the Subscribers who are permitted to be absorbed in joint sector undertakings, wholly under the joint control of Central Government and State Governments or Union territory Administrations or under the joint control of two or more State Governments or Union territory Administrations.
Explanations to Rule 15 of Central civil Service (National Pension System) Rules, 2021
Explanation (1). – Date of absorption shall be, in case, a Subscriber, –
(i) joins a corporation or company or body on immediate absorption basis, the date on which he actually joins that corporation or company or body;
(ii) initially joins a corporation or company or body on foreign service terms, the date from which his unqualified resignation is accepted by the Government; and
(iii) joins a corporation or company or body on conversion of a Government department into a public sector undertaking or autonomous body, the date from which his option to be absorbed in that corporation or company or body is accepted by the Government.
Explanation (2). – For the purposes of this rule (Rule 15 of CCS (NPS) Rules 2021), body means autonomous body or statutory body.
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