Benefits on retirement under rule 56 of fundamental rules or under the special voluntary retirement scheme: Rule 13 of CCS (NPS) Rules, 2021

 Benefits on retirement under rule 56 of fundamental rules or under the special voluntary retirement scheme: Rule 13 of CCS (NPS) Rules, 2021

MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES AND PENSIONS
(Department of Pension and Pensioners’ Welfare)

NOTIFICATION

New Delhi, the 30th March, 2021

13. Benefits on retirement under rule 56 of fundamental rules or under the special voluntary retirement scheme.- (1) A Subscriber,-

(i) who retires or is retired, in advance of the age of Compulsory retirement in accordance with rule 56 of the Fundamental Rules, 1922; or

(ii) who, on being declared surplus to the establishment in which he was serving, opts for Special Voluntary Retirement Scheme of Department of Personnel and Training as notified vide Office Memorandum No. 25013/6/2001-Estt. (A) dated the 28th February, 2002 as amended from time to time, shall be entitled to benefits as admissible under the Pension Fund Regulatory and Development Authority ( Exits and Withdrawals under National Pension System) Regulations, 2015 to the Subscriber retiring on superannuation :

Provided that a Subscriber who on being declared surplus to the establishment in which he was serving, opts for Special Voluntary Retirement Scheme of Department of Personnel and Training, shall also be entitled to the ex-gratia admissible under the Scheme in addition to benefits admissible under the Pension Fund Regulatory and Development Authority ( Exits and Withdrawals under National Pension System) Regulations, 2015.

(2) If the Subscriber intends to continue his Individual Pension Account or to defer payment of benefits under National Pension System beyond the date of retirement, he shall exercise an option in this regard in accordance with the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under National Pension System) Regulations, 2015.