Govt enhances NPS contribution of employees to 14%
JAMMU, MAY 20: Meeting the demand of its employees working under National Pension System (NPS) the government today issued orders for enhancement of its monthly contribution to 14% from the month of April, 2020.
An S.O to this effect was issued by the Department of Finance today mentioning that “The Government shall make fourteen percent (14%) of matching contribution w.e.f. 01.04.2020”.
The move is going to benefit thousands of employees appointed by the government after 2010 who are being governed under this system.
Pertinent to mention here that government was making a monthly contribution equivalent to 10% of Basic pay and Dearness allowance of each employee which has now been increased to 14% w.e.f April, 2020 taking its employees at par with those employed by central government.
The employees were demanding the same and government has fulfilled it that also retrospectively from April, 2020 which is going to benefit substantially thousands of employees working under the National Pension System here.