FACTS & TRUTH ABOUT PENSION FUND - NEW PROSPECTIVE

[Niranjan Cn]

Sirs,

There is lot of discussion on pension funds and there are misinformation and gossips are widely circulated. Even some of the retiree originations are also not sharing the correct information to members. An effort has been made to make a write up on factual position -  highlighting the various issues /figures.  Many of the figures are not shared neither in WhatsApp or Youtube so far.  

I spent some time in culling out various data from Synopsis and Charts submitted by ARISE/AIBPARC to Supreme Court.  Some of the figures are taken from Annual Reports.

NPS figures for last four years is compared with contribution by Banks to  Pension Fund over the same period.

Hope the write up brings more clarity to the issue.. and at the same time new questions may come up.  

Please inform for any e & o if any.   

PLEASE PERUSE THE ATTACHED PDF (ONLY TWO PAGES) FOR DETAILS.

Niranjan

[Ramani Konnayar]

I think, the contribution to NPS Fund is far less than that for BEPR Pension Fund (despite those under NPS constituting 85% of the total workforce now) for the simple reason that the constitution and working of these Funds are entirely different from each other. In particular, as per my understanding, unlike OPS, NPS is not controlled by AS -15 norms and the pensions which are annuity based would be almost static as there is no DA payable too.

This is precisely why, in my earlier letter, I had remarked that BEPR pension now seems to be considered as a big burden on their resources by banks leading to their efforts to stall updation by all means.

K N RAMANI 

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