04 Jun, 2021 11:22a.m.

Entitlements of family on death of a govt. staff under NPS & opted for Old Pension benefits

entitlements-of-family-on-death-of-a-govt-staff-under-nps-opted-for-old-pension-benefits

Annexure-2

(1) Entitlements of family on death of a Government servant under National Pension System who had opted for benefits under Old Pension Scheme or in whose case, no option was exercised and the default option is Old Pension Scheme

  • Family Pension : Same as under Old Pension Scheme. In addition, employee’s contributions and returns thereon in the NPS pension Corpus shall also be paid to the family member. HOO will start process to sanction family pension and simultaneously close PRAN under NPS and Government contribution (and returns thereon) would be transferred into the Government account. Remaining amount would be paid in lump sum to the nominee or legal heir as per PFRDA regulations.
  • Death Gratuity : Same as under Old Pension Scheme
  • Cash equivalent of leave salary (Leave Encashment) : Same as under Old Pension Scheme
  • Central Government Employees Group Insurance Scheme (CGEGIS) : Same as under Old Pension Scheme

(2) Entitlements of family on death of a Government servant under National Pension System:

(i) who had specifically opted for benefits under NPS based on accumulated pension corpus or

(ii) who had opted for Old Pension Scheme or in whose case default option is Old Pension Scheme but there is no family member eligible for family pension under Old Pension Scheme

  • Benefits based on NPS Corpus: Concerned office would take action to close PRAN under NPS of the deceased Government servant and grant benefits of lump sum (maximum 20% of accumulated pension wealth) and annuity from the remaining pension wealth to the eligible family member from annuity service provider registered with PFRDA, in accordance with PFRDA (Exits and Withdrawals under NPS) Regulations, 2015
  • Death Gratuity : Same as under Old Pension Scheme
  • Cash equivalent of leave salary (Leave Encashment ) : Same as under Old Pension Scheme
  • Central Government Employees Group Insurance Scheme (CGEGIS) : Same as under Old Pension Scheme.





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