Eligibility

Several State Governments have adopted the National Pension System (NPS) framework and implemented it for their employees. This includes not only State Government employees, but also personnel working in Autonomous Bodies, State Public Sector Undertakings (PSUs), Corporations, Boards, and Nigams, with implementation effective from various dates.

To view the detailed implementation timelines and official notifications by each state, please refer to the link below:

Click here to view State Government NPS Notifications

Contribution for Employees of State Autonomous Bodies (SABs)

Under the National Pension System (NPS), employees working in State Autonomous Bodies (SABs) are required to contribute 10% of their Salary and Dearness Allowance (DA) every month. This amount is deducted directly from the employee's salary and is matched by an equal contribution from the respective employer (i.e., the State Autonomous Body).
These contributions, along with the investment returns, are credited to the Tier I account under the Permanent Retirement Account Number (PRAN) allotted to each employee.

Reference: Gazette Notifications issued by the respective State Governments.
 

Enrolment & Registration Process for State Autonomous Bodies (SABs)

For Organizations
State Autonomous Bodies (SABs) seeking to join the National Pension System (NPS) must submit a duly authorized Letter of Consent to PFRDA through the designated Nodal Offices, Ministries, or Heads of Departments, as outlined in the respective State Government’s NPS Notification.
Following this, the designated office is registered for communication with the Central Recordkeeping Agency (CRA)by submitting a Master Creation Form (MCF). Subsequent registration of oversight and administrative offices requires submission of the following physical forms to CRA:

• Form N1 for Directorate of Treasuries and Accounts (DTA)
• Form N2 for District Treasury Offices (DTO)
• Form N3 for Drawing and Disbursing Officers (DDO)

Download Forms:

• NSDL Forms - Click Here
• KFintech Forms - Click Here

For Subscribers (Employees)
Employees of State Autonomous Bodies covered under NPS must submit Form CSRF-1 physically to the CRA or CRA-Facilitation Centers (FCs) for registration under NPS.
Important: The respective Autonomous Body must be registered with CRA before the employee can apply for a Permanent Retirement Account Number (PRAN).
Download Forms:

• NSDL Forms - Click Here
• KFintech Forms - Click Here
   

Investment Choices & Pattern for Government Employees

Under the National Pension System (NPS) for Government employees, there is currently one default investment scheme applicable to Tier I accounts.
In this default scheme, contributions are distributed among three Pension Fund Managers (PFMs) in a predefined proportion:

• SBI Pension Funds Private Limited
• UTI Retirement Solutions Limited
• LIC Pension Fund Limited

Investment Allocation Pattern (Effective from 10.06.2015)
Each PFM is authorized to invest contributions in the following asset classes, up to the specified limits:

• Up to 50% in Government Securities and Related Investments
• Up to 45% in Debt Instruments and Related Investments
• Up to 5% in Short-term Debt Instruments and Related Investments
• Up to 15% in Equities and Related Investments
• Up to 5% in Asset-Backed, Trust-Structured, and Miscellaneous Investments

Refer to Circulars:

• PFRDA Circular No. PFRDA/2015/16/PFM/7 dated 03rd June 2015

About State Autonomous Bodies

Get all details here.

Withdrawal & Exit

For details on Withdrawal & Exit from NPS click here.