District Treasury Rajouri hosts workshop on NPS scheme

Rajouri, September, 16: To create awareness about National Pension System, a daylong workshop was organised here today for the DDOs and concerned accounts officials by the District Treasury.
At the outset of the workshop, the District Treasury Officer Imran Mehmood gave an elaborate view of NPS.
He briefed about various benefits of NPS through a power point presentation highlighting features like unique tax benefits, Unique 12-digit PRAN number, benefit of low cost, protection of subscriber's interest, transparency and portability. He also informed about the responsibilities of drawing and disbursing officers and treasury officers like registration of subscribers, uploading of information on the portal, transfer of funds in NPS account, maintenance of details, changing of nominees, handling and resolution of grievances of employees with respect to NPS, processing of exit case etc.
Master trainer Shoaib Saraf gave a detailed account of investment pattern of government sector and said that the employees have two choices i.e active and auto choice.
In active choice, the employees can decide where to invest money and in auto choice the decision regarding the investment of NPS amount is left with the government. He informed about two types of NPS accounts i.e Tier-I and Tier-II. He said that former is a salary linked account in which 10% amount is contributed by the employee himself and the same amount is contributed by the government in this account. He also said that it is a portable account meaning that it is issued once and can be ported if an employee joins another department. He added that the later is just a saving account with no tax benefit. In connection with the types of annuity plan (pension plan), Shoaib briefed about different types of annuity including annuity for life, annuity for life with return of purchase price on death, default annuity etc. He urged upon the employees to go for the best type of annuity plan to ensure their own safety and the safety of their family members.
Withdrawal pattern of NPS was also highlighted. It was informed that 25% amount of NPS can be withdrawn after the completion of three years of service by the employees in specific cases including higher education, marriage of children, disability, skill development etc. Usage of NPS mobile App, ways of effective implementation of NPS, handling of grievances of NPS employees and other important points were also discussed in detail.
Chief planning officer Shama-un Ahmed, Assistant Commissioner Revenue Mohd Ashraf, Additional treasury officer Naveed Anjum, Executive Engineer PWD Rajouri division, Mohammad Zubair, Executive Engineer PDD Rajouri division Munshi Khan, Executive Engineer REW Rajouri division Noor Ali and other concerned officers and officials were present on the occasion.