Question: At which of the following places a conference on National Pension System (NPS) for Central Public Sector Enterprises (CPSE) was organized?
(a) Jaipur
(b) Bangalore
(c) Mumbai
(d) New Delhi
Answer: (d)
Related Facts:
- On October 10, 2017; a conference on National Pension System (NPS) for Central Public Sector Enterprises (CPSE) was organized at India Habitat Center, New Delhi.
- It was organized by the Pension Fund and Development Authority (PFRDA).
- Its objective was to make the Central Public Sector Enterprises aware of the benefits and characteristics of the National Pension System and to provide solutions to their queries related to the National Pension System.
- In this conference, the Public Enterprises Department has issued a notification ending the condition of term of retirement from minimum 15 years service and CPSE to obtain the benefit of the recommendation of the third pay revision committee.
- In addition to this, Government has also amended the Income Tax Act providing for tax free migration of superannuation funds to NPS.
- This provision will facilitate CPSE to implement NPS for its employees.
- This provision will facilitate the CPSEs to implement NPS for their employees. The total employee strength in CPSEs stood at 12.91 lakh (excluding contract workers) in 2014-15.
- The Conference saw an active participation of more than 55 CPSEs with around 150 participants.
- Individuals can now subscribe to NPS upto the age of 65 years and can defer the purchase of annuity to three more years post retirement and defer lump-sum withdrawal in phased manner over a period of 10 years.
Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=171552
http://pib.nic.in/newsite/PrintHindiRelease.aspx?relid=67583