NPS Rule Change: If you also want to get a big pension after your retirement, then National Pension System i.e. NPS can be a good option for you. Now the Central Government has issued new guidelines for contribution in NPS.
NPS Rule Change: The National Pension System (NPS) has emerged as a game-changing scheme for the retirement planning sector of India, launched on January 1, 2004. Now the Central Government has issued new guidelines for contribution in National Pension System (NPS). The Department of Pension and Pensioners, working under the Ministry of Personnel, Public Grievances and Pensions, has shared an Office Memorandum dated October 7, 2024, which gives information about the changes in the rules related to NPS contribution of employees.
According to a report by Financial Express, the guidelines also reiterate some existing provisions, including the requirement for a 10 per cent contribution from the monthly salary to be deposited in the NPS. The memorandum states that this contribution will be reviewed from time to time, but the amount will always be rounded up to the nearest whole rupee.
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Can continue contribution on suspension
If an employee is suspended, he will have the option to continue NPS contribution. If he rejoins service after the suspension is lifted, the contribution will be recalculated based on the salary at that time.
It is mandatory to make contribution even during probation
According to the new guidelines, it is mandatory for employees in probation period to make NPS contribution so that their pension savings can start as soon as possible.
If there is a delay in depositing the contribution, the full amount will be given along with interest. It has been clarified in the guidelines that if there is any mistake in the contribution, then it will be deposited in the pension account of the beneficiary along with interest.
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