National Pension System

The National Pension System (NPS) is a savings-investment pension scheme initiated by the Government of India that guarantees market-based returns. The scheme aims to promote a systematic savings habit among citizens during their working life and develop a substantial fund over the long term through investments managed by professional pension fund managers. It operates under the guidelines of the Pension Fund Regulatory and Development Authority (PFRDA). In Rajasthan, NPS has been made mandatory for employees who joined service on or after January 1, 2004, as per the Finance Department's memorandum F13(1) FD/Rules/2003 dated January 28, 2004. It was also implemented for employees of government undertakings/autonomous bodies from the same date. The Rajasthan government issued the Rajasthan Civil Services (Contributory Pension) Rules, 2005, through notification F13(1) FD/Rules/2003 dated August 2, 2005. The state government adopted the PFRDA architecture in full for the implementation of NPS as per the order dated December 27, 2010. As of November 30, 2020, there are 497,570 active subscribers registered in the Central Record Keeping Agency (CRA) system, along with 29,361 Drawing and Disbursing Officers (DDOs), 40 District Treasury Officers (DTOs), and 10 District Treasury Assistants (DTAs). Subscribers contribute 10% of their basic salary and dearness allowance, matched by a 10% employer contribution (14% for All India Service officers), which is transferred monthly by the district offices to the CRA system. A consolidated corpus fund (pension fund) is created from the contributions and investment returns, from which subscribers can receive a maximum of 60% as a lump-sum payment upon retirement and a minimum of 40% as an annuity/pension. The entire process of withdrawal and disbursement is online.

• On retirement, subscribers will receive a maximum of 60% lump-sum payment of their corpus fund and will receive an annuity against a minimum of 40% of the corpus fund. Annuity payments can be made monthly, quarterly, or annually as per the beneficiary's choice.
• In the event of death or voluntary retirement, the nominee/subscriber will receive 20% lump-sum amount of the corpus fund and will receive an annuity against a minimum of 80% of the corpus fund. Annuity payments will also be made monthly, quarterly, or annually as per the beneficiary's choice.

1. Employees who joined service on or after January 1, 2004, as per the Finance Department's memorandum F13(1) FD/Rules/2003 dated January 28, 2004.
2. Employees of government undertakings/autonomous bodies appointed on or after January 1, 2004.

Online

1. Visit the official website: State Insurance & Provident Fund
2. Complete the application form available at: Application Form
3. Submit the required documents online.