J&K NPS employees suffer loss due to UT Govt’s decision

Excelsior Correspondent

JAMMU, Sept 17: The employees under New Pension Scheme (NPS) in the Jammu and Kashmir have been left to face huge losses due to the unpleasant and discriminatory decision of the UT Government.
All J&K NPS Employees Forum in a communication to the Lt Governor, Manoj Sinha have claimed that the decision of his administration regarding, implementation of the provisions of the Ministry of Finance vide notification dated 31-01-2019, has put the employees under NPS in J&K under tremendous losses.
They pointed out that Ministry of Finance (Deptt of Financial Services), vide notification dated 31-01-2019 bearing F.No. 1/3/2016-PR, makes amendments in the Ministry of Finance’s Gazetted Notification No. 5/7/2003-ECB–PR dated 22-12-2003, namely “ The monthly contribution would be 10 % of the salary and DA to be paid by the employee and matched by the Central Govt,” the words “ The monthly contribution would be 10 % of the basic pay plus DA by the Central Govt shall” be substituted.
This above notification containing 12 provisions came into force from Ist April, 2019. The Union Territory of Ladakh, Finance Department vide order No 251-F of 2020 dated 20-01-2021 has implemented the above provisions with effect from April Ist, 2019, but the UT of J&K implemented the provisions from 1-04-2020 vide SO No. 178 dated 20-5-2021, instead of 01-04-2019, there by causing huge loss to the NPS employees from J&K.
They termed the decision of the J&K UT as biased and discriminatory and urged upon the Lt Government to reconsider the decision and do justice with the NPS employees of the J&K UT. There is strong need to amend SO No. 178 of 20-05-2021, they maintained.