CONTRIBUTORY PENSION SCHEME -OLD GO

GOVERNMENT OF ANDHRA PRADESH
ABSTRACT
PUBLIC SERVICES – New Pension Scheme (Contributory Pension
Scheme) - Payment of interest @ 8% per annum on the CPS
contributions of the employees and matching contributions of the
Government for the legacy period from 01-09-2004 to 31-03-2011 –
Orders – Issued.
FINANCE (PENSION-I) DEPARTMENT
G.O.Ms.No. 226 Dated: 29.09.2011
Read the following:-
1. G.O.Ms.No.653, Finance (Pen.I) Department, dt. 22.09.2004.
2. G.O.Ms.No.655, Finance (Pen-I) Department, dt. 22.09.2004.
3. DTA, A.P., Hyderabad, Letter No.D2/10393/2009-11,
dated. 15.07.2011.
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O R D E R:
In the G.O. 1st read above, Government have introduced New
Pension Scheme (CPS) to the AP Government employees who were
appointed on or after 1-9-2004. In the G.O. 2nd read above, Government
have issued operational guidelines. In the New Pension scheme each
employee shall pay a monthly contribution of 10% basic pay + DA from
his salary and the Government will contribute an equal amount as its
share. Government have reviewed the progress of the implementation of
New Pension Scheme (Contributory Pension Scheme) and issued
instructions to the DTA/PAO, Hyderabad to complete the uploading
process of the data relating to the contributions to the individual
accounts of the employees concerned for legacy period i.e. from 01-09-
2004 to 31-3-2011 in a time bound manner. Further, the DTA was
directed to furnish necessary proposals to fix the rate of interest payable
on the CPS contributions of the employees and matching contributions of
the Government for the legacy period from 01-09-2004 to 31-03-2011 as
the said funds are with the State Government only.
2. In the reference 3rd read above, the Director of Treasuries and
Accounts duly obtaining information from the O/o the Principal
Accountant General (A&E)., A.P., Hyderabad has furnished a proposal for
fixation of interest rate @ 8% per annum on the CPS contributions of the
employees and matching contributions of the Government for the above
said legacy period on par with the interest rate being paid for GPF
contributions during the period from 01-09-2004 to 31-03-2011.
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3. Government, after careful consideration of the matter, hereby order
for payment of simple interest @ 8% per annum on yearly basis on the
CPS contributions of the employees and on the matching contributions of
the Government for the legacy period from 01-09-2004 to 31-03-2011 on
par with the interest rate being paid for GPF contributions during the
period from 2004.
4. The operational guidelines to the Drawing and Disbursing Officers
and Treasury Officers in this regard will be issued separately.
[BY ORDER AND IN THE NAME OF THE GOVERNOR OF ANDRHA PRADESH]
RANJEEV R. ACHARYA
PRINCIPAL SECRETARY TO GOVERNMENT (FP)
To
All the Departments of Secretariat.
All Heads of Departments.
The Director of Treasuries and Accounts, A.P., Hyderabad.
The Pay and Accounts Officer, Hyderabad.
The Director of Works and Projects, A.P., Hyderabad.
The Director of State Audit, A.P., Hyderabad.
Copy to P.S. to PFS.
Copy to the P.S. to PFS (FP).
SF/SC.
//FORWARDED : : BY ORDER//
SECTION OFFICER