Close Menu
Own News WireOwn News Wire
    What's Hot

    Chalet Hotels revenue jumps 21.3% in FY25 but profit drops on higher expenses and tax adjustments

    Punish bankrupt company owners who don’t cooperate in debt resolution, set up advance ruling to cut down delay: ICAI

    Samsung Galaxy Z Fold 7 tipped to outsize last-gen Z Fold 6: Check details

    Facebook X (Twitter) Instagram
    Own News WireOwn News Wire
    • Home
    • About
    • Contact
    • Privacy Policy
    • Terms and Conditions
    • Disclaimer
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Sports
    • Technology
    • Education
    • Money
    • Companies
    • Entertainment
    Subscribe
    Own News WireOwn News Wire
    You are at:Home » New NPS rule: Process NPS pension like OPS, pension accounting body tells authorities – key details
    Money

    New NPS rule: Process NPS pension like OPS, pension accounting body tells authorities – key details

    ONS EditorBy ONS EditorMarch 16, 2025No Comments2 Mins Read0 Views
    Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Reddit
    Share
    Facebook Twitter LinkedIn Pinterest WhatsApp Email


    The Central Pension Accounting Office (CPAO) on March 12 issued instructions to all relevant authorities to stick to its new guidelines of processing NPS pension cases in the same manner as the Old Pension Scheme (OPS).

    Earlier, on December 18, 2023, the CPAO had issued guidelines to implement the method in order to ensure timely pension disbursal to retired employees under the National Pension System (NPS). The March 12 Office Memorandum (OM) urges Pay and Accounts Offices (PAOs) to follow the order.

    What CPAO has said

    The CPAO noted that specifically in some cases, PAOs are submitting three copies of provisional PPOs while submitting NPS cases. The new instructions mandates them to submit two copies of PPO booklets, which are the pensioner portion and the disburser portion. This is causing unnecessary delays in disbursement of pension amounts.

    “It has been observed that while submitting such cases to CPAO, few PAOs have not followed the guidelines in submission of NPS cases as OPS cases. To be more specific, it has been noticed that three (03) copies of Provisional PPOs (used earlier for submission of NPS cases to CPAO) have been submitted by PAOs, while submitting NPS cases as OPS cases whereas only two (02) copies of PPO Booklets (Pensioner Portion & Disburser Portion) should be submitted along with cases to CPAO,” the CPAO said in its memorandum.

    The authority has urged CCAs and CAs to strictly adhere to the updated guidelines.

    “In view of the above, all the Pr. CCAs/CCAs/CAs (with independent charge)/AGs are requested to instruct the PAOs under their control to strictly adhere to the guidelines issued in the previous OM dated 18.12.2023 by CPAO. Similarly, all the CPPCs of the authorised Banks are also requested to go through the OMs issued by this office and subsequent orders in this regard and act accordingly,” it said.

    CPAO new pension rule

    Under the new rules of the CPAO, the processing of pensions of of employees retiring under NPS will be made similar to the process of OPS. This is aimed to make the pension disbursement faster and transparent. It will also help NPS beneficiaries receive their pension on time in a hassle-free manner.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Reddit WhatsApp Telegram Email
    Previous ArticleVirat Kohli backs family presence on India tours after BCCI’s new policy: ‘People who have no control…’
    Next Article Emergency OTT release: Did you know Kangana Ranaut sold her Mumbai house for this political drama? |
    ONS Editor

    Related Posts

    Investment word of the day: Total expense ratio — what is TER in mutual funds and how is it calculated?

    May 12, 2025

    Some credit and debit cards come with insurance, but be sure you’re eligible for it

    May 12, 2025

    Should you register for GST? Here’s everything you need to know.

    May 12, 2025

    Comments are closed.

    Editors Picks
    Latest Posts

    Subscribe to Updates

    Get the latest sports news from SportsSite about soccer, football and tennis.

    Your source for the serious news. This demo is crafted specifically to exhibit the use of the theme as a news site. Visit our main page for more demos.

    We're social. Connect with us:

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 ThemeSphere. Designed by ThemeSphere.
    • Home
    • About
    • Contact
    • Privacy Policy
    • Terms and Conditions
    • Disclaimer

    Type above and press Enter to search. Press Esc to cancel.

    Go to mobile version